(Yicai Global) March 28 -- Haichang Ocean Park Holdings Ltd. will officially open its CNY5 billion Shanghai Ocean Park at the end of September this year, marking the eastern city's third major amusement park following Happy Valley and Disneyland.

The Dalian-based firm's latest park will span an area of almost area of 300,000 square meters in the city's Pudong New Area and consist of five theme areas and a resort hotel, it said in a press briefing.

Haichang aims to nurture competitive but cooperative relationship with nearby Disneyland and hopes to benefit from Disney's influence to bring in more customers. Shanghai Disney Resort, which opened in June 2016, has not only brought significant benefits to the city's tourism industry but also led to the coordinated development of other theme parks, engineering projects and other industries, states a report from local tourism board Shanghai Information Center issued last year.

The park will publish fares in May this year and will commence trial operations in August, Haichang said. The park aims to draw some 3.2 million visitors in the first year and 5 to 6 million in the following years.

The company will also draw on Disney's development model to create its own intellectual property system, including animation, picture books, derivative products, stage plays and theme restaurants and hotels, said Haichang Executive Director Gao Jie.

Domestic theme park operators Happy Valley and Haichang Ocean Park are still weak in IP revenue compared with overseas brands, and the proportion of their derivative income is often less than 10 percent, an industry analyst pointed out. For Disney, however, park tickets are no longer its main source of income, with derivatives accounting for more than half of total revenue.