Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
In recent weeks, the stock market in China has undergone a huge depression. Stocks of sports-related companies are constantly falling. During the past fifteen days, the share prices of Teda, Sainty, SIPG, Sungkiang, and Evergrande have all experienced sharp decreases.
Compared to the stock prices of June 15, today’s stock prices have plummeted. Teda's stock price plunged 50% with Sainty’s share price tumbling from 19.99 to 10.70. Meanwhile Evergrande, the real estate co-owners and sponsors of the 2013 Asian Champions Guangzhou, who recently listed on trading board, also underwent a huge loss with its stock price diving from 8.40 to 4.33.
It is believed that the sharp fall in China’s stock prices would dampen sponsors’ enthusiasm to invest in sport. Sponsors may however gradually change their investment strategy with, some experts pointing out that the slump in the stock markets might be beneficial for Chinese football. They said that some great European soccer giants have hit rock bottom but survived during economic depressions, and that Chinese sponsors should face challenges optimistically.
Source: sports.china
Proofread by Raymond Fitzpatrick
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Related coverage
Nike to sponsor China national football team
26 Dec 2014
National Bureau Director Conference sets Chinese sports plans for 2015
30 Dec 2014
CSL football club launched club-themed mobile game
17 Jun 2015
Liga Adelante side seeks Chinese partners
10 Mar 2016
Hosa title-sponsored for 10km Marathon World Cup
16 Dec 2014
More from Yutang Sports
HealthAccord spotlights mental health and female athlete well-being
08 Feb 2024
Leading sports charity, Podium Analytics, announces Trusted Research Environment for Global Sport
11 Apr 2024
SPORTACCORD 2024 INSIGHTS: Touchdowns, Home Runs and Slam Dunks
12 Jun 2024
SportAccord scores Summit touchdown with NFL
18 Jan 2024
SportAccord 2024 - MediaAccord is ‘rare opportunity’ to meet before Paris 2024
08 Mar 2024
Yutang Sports
loading...