Carnival Group International Holdings, an operator of all-encompassing large-scale leisure and entertainment complex projects, has announced its unaudited interim results for the six months ended June 30, 2014.

The group has turned around its business to achieve a profit during the period under review, with profit attributable to owners of the company reaching HK$8.6m ($1.1m), mainly attributable to the increase in gain from sales of properties and the reduction of selling and administrative expenses and finance costs.

During the period, Carnival expedited a transformation of its business and is planning for the launch of its integrated tourism project in Qingdao, eastern China. Set to open in mid-2015, the Rio Carnival complex is targeted at China's growing consumer markets.

To cater for growing demand of visitors to high-end tourism sites, the project comprises integrated facilities including discount shopping centres for international premium brands, indoor and outdoor theme parks, hotels, a themed restaurant area and a convention centre.

Commenting on the group's current strategy, King Pak Fu, chairman of Carnival Group, said: "Driven by China's continuous economic growth and the increasing spending power of its families, the demand for leisure and entertainment has continuously risen.

"In light of this, Carnival Group International has created a new concept of integrated tourism and shopping in the Greater China region. We aim to design, develop, operate and manage large-scale tourism and shopping complex projects featuring a theme park, hotel, shopping and leisure functions in major cities of China."

King said the group is currently studying the feasibility of replicating similar large-scale tourism projects in the first- and second-tier cities or key provinces and cities outside Qingdao to capture the opportunities brought about by the strong consumption power, particularly the escalating demand for tourism and shopping in China.