Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Recently, Malon Sports released its first half report for 2016. The net loss was up to 4.226 Million RMB. By the end of June 2016, the total assets of Malon Sports were 15.01 Million RMB with the cash flow decreasing by 9.45 Million RMB.
There are several factors contributing to this loss. Firstly, to improve its competitiveness, Malon Sports invested a huge amount of money on purchasing, producing and promoting the intellectual property for new events. Secondly, to operate the new events, Malon Sports hired more staff and enlarged their working offices. The expenditure on staff wages and office rental increased dramatically.
Malon Sports hold the rights to many projects such as Forestmarathon mimics Olympians, 2016 YES CITY-TO-CITY Run & Music Party, Royal Canal Open Regatta and G.O.Fores. However, during the process of the operation, it cannot control the cost of these projects. For example, 2016 YES CITY-TO-CITY Run & Music Party combined running with a music concert, but the concert’s cost was too expensive, while the running was almost neglected. In the fiercely competitive sports industry, Malon Sports should really think carefully about its future.
Proofread by Sean O Diobhilin
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Related coverage
New business 'cycle' for LeTV with smart bikes
12 Aug 2015
Shanghai to build Xujiahui Sports Park
27 Sep 2017
Chinese company officially took over Sochaux
07 Jul 2015
China’s guideline for companies to issue special bonds in sports
18 Aug 2017
SWRH to invest RMB 250m in sports and culture
15 Jan 2016
More from Yutang Sports
SPORTACCORD 2024 INSIGHTS: How Gaming is Changing our World
07 May 2024
SportAccord 2024 - combating online abuse ‘chance for sport to show its power’
22 Mar 2024
Gender equality will be reflected at OBS's coverage of the Paris 2024 Olympic Games
16 Apr 2024
Interview with Andreas Zagklis: to keep popularization of basketball with all-round strategy
08 Jul 2024
SportAccord's interview with Sarah Gregorius: proactive actions are necessary to tackle online abuse
28 Apr 2024
Yutang Sports
loading...