SPORTACCORD 2024 INSIGHTS: Sport’s Perfect Storm
23 May 2024 14:34
China United Travel CO., Ltd, a public-listed company focusing on resorts and tourism businesses, has its subsidiary established an investment fund for the sports industry with two other companies. The parties signed relevant documents on October 9.
The other two companies belong to a financial management group Huashe Wealth. The subsidiary of China United Travel offers 10 million yuan and owns 20 percent of the fund; the other two companies together own 80 percent of the fund with a price of 40 million yuan.
The newly established center is named as Suzhou Industrial Park Hualv Xinji Sports Investment Centre.
The fund is targeted at the following kinds of businesses: sports marketing and sports media companies; sports advertisement companies; event management, event broadcasting rights, market development and advertisement representation; operation of sports avenues; and other relevant Chinese and overseas sports properties.
China United Travel say that this is used to improve the business structure of the company itself, to create its competitiveness in the sports industry, and to make contributions to the Chinese sports industry.
Source: cs.com.cn
Related coverage
China’s Sports Industry worth RMB 1.7 trillion in 2015
28 Dec 2016
Beijing Guoan FC, a valuable property in Chinese soccer
07 Jan 2016
CSIG back to Share Market after suspension
05 Dec 2016
China to build 20,000 schools with football as specialty
17 Jan 2015
Lander E-sports to buy 19% shares in Chinese company
25 Dec 2015
More from Yutang Sports
Interview with Yiannis Exarchos: to narrate Olympic story in new ways and promote positive values
01 Jul 2024
Interview with Thomas Lund: to follow new trends and bring younger generations to the sport
17 Jun 2024
Hisense Named Official Partner of FIFA Club World Cup 2025
01 Nov 2024
SPORTACCORD 2024 INSIGHTS: Major Technology Trends Shaping Sports Sector
03 Jun 2024
Interview with Andreas Zagklis: to keep popularization of basketball with all-round strategy
08 Jul 2024
Yutang Sports
loading...