The Ocean Park, founded in 1977, is Hong Kong's unique home grown theme park and has gained recognition for its animal husbandry, research and relationship with the community.[Photo/Xinhua]

Hong Kong Ocean Park announced on Wednesday that it will raise admission fee by 9 percent in January 2018.

Ocean Park today announced its financial results for the 2016/17 fiscal year ending 30 June 2017, which shows a slight increase in revenue to 1,619.8 million HK dollars ($207.66 million), while narrowing its deficit to 234.4 million HK dollars.

Hong Kong Ocean Park's Chairman Leo Kung said, to maintain competitiveness through investment and facility enhancement, balance cost pressures and keep the park's finances sustainable, Ocean Park will implement a new pricing scheme that will take effect on Jan 1, 2018.

Daytime admission tickets for adults and children will be raised to 480 HK dollars and 240 HK dollars respectively, while prices for annual passes will remain unchanged. Hong Kong residents can enjoy 2017 rates until Feb. 28, 2018.

The park recorded a marginal dip in park attendance to 5.8 million in the 2016/17 fiscal year, according to the park's financial results.

The Ocean Park, founded in 1977, is Hong Kong's unique home grown theme park and has gained recognition for its animal husbandry, research and relationship with the community.