Hangzhou-based Lander Sports Development Co. Ltd is negotiating an 8-billion-yuan deal that involves a sports town and major urban sports infrastructure, according to an official statement on Tuesday.
Founded in 1995 as a real estate company, Lander Sports has changed its main business fields to sports, real estate sales, renting and energy business since 2014.
As shown in a report by cfi.net.cn, Lander has already signed 4 sports town projects by investing over 20 billion yuan as of now.The overall market value of Lander Sports is 5.673 billion yuan, a decrease of nearly 3.4 billion yuan from August 28th, 2017.
In the sports business, the company focuses on the expansion of sports towns, urban sports complexes and fitness clubs. Lander’s sports businesses generated 28.1574 million yuan in the first half of 2017, accounting for 2.83% of the total revenue.
The report also points out that some experts believe that Lander Sports may adopt the Public Private Partnership model in the future to ensure a smooth proceeding of its sports projects.
Proofread by William Logsdon