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3 sports companies release 2017 interim report

By Chen Yaping 31 Aug 2017

Three Chinese sports companies, including China Sports Industry Group, Wisdom Sports and Vango Sports have released their first-half reports for 2017. All the reports reveal remarkable potential in net profit.

For the first half of 2017, China Sports Industry Group generated RMB 407 million in total revenue while the sports-related business earned the group RMB 130 million. Net profit attributable to the shareholders of the listed companies was RMB 13.48 million, an 89.48% year-on-year growth. Cash flow from operating activities reached RMB 128.6 million.

Wisdom Sports, a sports marketing and managing company in China, posted a total revenue of RMB 88.075 million in its interim report for the first half of 2017, which is down 54.4% year-on-year. Event sponsorships brought a revenue of RMB 51.168 million, representing a profit of RMB 22.658 million while the sports service business contributed RMB 36.907 million, a profit of RMB 28.838 million.

Vango Sports, a sports company specializing in fencing, reported a revenue of RMB 122 million, an increase of 58.39% in the first 6 months of 2017. Its major businesses revenue amounted to RMB 117 million, consisting of RMB 105 million in fencing training and event organization along with RMB 12.2 million in supporting facilities sales.

Source: & ifeng

Proofread by William Logsdon 

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