Wisdom Holdings Group announce growth in sports sector

‍‍‍‍Wisdom Holdings Group has recently published its financial report for the first half of 2015, which shows that they have gained a 49.9% year-on-year growth in their sports events management business, earning RMB107m in revenues, according to a report on NetEase. 

The total revenue the company acquired in the first half of 2015 was RMB 295m, which means that the revenues from sports events management account for 36% of the total revenue of the company. 

The company also published an announcement regarding a change in the current company's name which will now be known as Wisdom Sports Group. The decision was taken at a stockholders meeting on Aug 21. 

The announcement said that its growth could be contributed to the increased number of new sporting events being organized alongside the existing sports events that Wisdom Holdings Group organized in the first half of 2015. 

Wisdom Holdings Group estimates that the number of participants in its various events could exceed 10m in the second half of 2015. They plan to cooperate with 14 provinces and cities in China comprising public sports such as basketball, running and football, etc. 

Source: NetEase 

Proofread by Raymond Fitzpatrick.