Wisdom Sports publishes its income statement

Wisdom Sports has published a statement that up to December 31st 2016, it had revenues of 480 million Yuan, a decrease of 29.4% compared with that at the end of 2015. It had profit attributable to shareholders of 93.363 million Yuan, an increase of 83.8% compared with that at the end of 2015, and 0.06 Yuan earnings per share with no dividend.

In the announcement, the reason of decreased total revenue was said to be because there were less revenue from its film/TV business.

The announcement reveals that Wisdom Sports had increased income in event operation by 28.9% to 445 million Yuan in 2016. The growth was mostly gained from areas of operating mass-participating events, marathons and acting as the commercial partner of the NBL.

Wisdom’s Income from film/TV business has reduced by about 89.4% to 35.8 million Yuan, due to strategic changes that they no longer treat traditional advertising as its core business.

Source:Zhitongcaijing

Proofread by Sean O Diobhilin