New Third Board ushers in another Chinese sports company

The New Third Board, a Chinese national share transfer system for small and medium-sized enterprises, recently witnessed the listing of another domestic sports company on the trading platform.

Beijing Saidian Sports Investment Limited was listed on the New Third Board in late November, following the likes of the better known Guangzhou Evergrande Taobao FC and iRENA.

“We feel lucky that Saidian, as a new type of sports service provider based on mobile internet, has been listed on the New Third Board”, said Xu Linzhou, President at Saidian.

“It demonstrates that the company is making a fresh start. The company will certainly take advantage of the capital market to develop in the fast lane”, Xu added.

Founded in 2007, the company initially concentrated on providing sports-focused services for employees, which included fitness and health monitoring, events organization and sports training.

With the rapid growth of mobile internet, Saidian launched an online-to-offline platform named Bestdo, or Baidong, in 2013 in order to engage more sports consumers with their upgraded venue bookings and social networking opportunities through sport.

Source: Huanqiu

Proofread by John Devlin.