Brogent Technologies, Inc. – Flying Theatre Manufacturer

Brogent Inc. (5263) held a shareholders' meeting today (May 27th). Brogent's consolidated revenue for FY2021 was NT$787 million, a decrease of approximately 25% from NT$1.06 billion in FY2020. In terms of the international travel market in 2021, there has been an overall decline in the tourism due to the rapid spread of the COVID-19 variants Delta and Omicron worldwide, resulting in stagnant revenue for tourist attractions and theme park industries around the world. Despite the impact of the COVID-19 pandemic on revenue last year, the travel market is experiencing a steep rise in growth as a rebound in travel is observed around the world.

Last year marked the 20th anniversary of Brogent. During the epidemic, all employees of Brogent strove to overcome all kinds of difficulties and challenges and successfully built 21 medium to large scale interactive entertainment ride systems in 13 locations around the world. The Company assisted its client theme parks and major shopping malls in the U.S., Japan, Denmark, the U.K. and Vietnam in opening their i-Ride flying theaters, which are set to welcome tourist crowds after reopening when the lockdown restrictions are lifted. During the pandemic, the R&D team also continued to build momentum and actively developed richer and more diverse high-end products, such as new forms of flying theater featuring a 8K LED dome screen and a breathtaking hot air balloon simulator.

Brogent has a long history in the immersive entertainment ride market and is a global leader in flying theater equipment. According to statistics, the global market size of international theme parks and single-site tourist attractions is more than 4,000, so there is still a lot of room for growth in the market. In terms of outlook for 2022, Brogent will continue to create maximum value for our shareholders through product diversification, revenue diversification, development of cutting edge technology and strengthening competitive advantages. For the strategic planning of the immersive entertainment ride and amusement equipment market, in addition to the existing international market, Brogent will also cultivate the high-end product segment, with products costs tens of millions of dollars to billions of dollars. The Company is also actively developing more diversified and rich new equipment with innovative technology to increase market penetration with diversified product lineups. In addition to revenue from equipment, Brogent is also actively expanding its global operations and strengthening its digital content video database to become a video content licensing provider, thus diversifying its revenue stream. In recent years, Brogent has gradually developed into a turnkey solutions provider, offering professional services including amusement ride design, venue design, digital content production and on-site operation to customers worldwide, expanding the scope of business services and contributing new revenue.

Brogent remains fully committed to changing the way people experience the world through innovative technology. In the future, when metaverse is gradually realized in the theme park environment, the development of amusement ride will also change from multimedia ride to a more immersive and interactive simulator system. The cutting edge immersive simulation technology developed by Brogent allows humans to enter the world of "metaverse" that seems to blend the virtual world with the real. Brogent’s achievements and breakthroughs in the research and development of immersive simulation system technology, combined with 5G, AIoT, block chain and other technologies, will contribute to realizing an exciting new world of closer virtual and real integration.

Although the COVID-19 pandemic has had an unprecedented impact on the amusement park industry, Brogent is confident in the future prospects of the industry. With the increase in vaccine coverage and the reopening of theme parks around the world and considering the human desire to go out, to be free, and to have fun will never subside, the market outlook for theme parks and entertainment remains positive in the long run. Brogent will continue to embrace the philosophy of "Fun is Our Business" and bring joy to the world empowered by technology.