Lander Sports reports exponential growth in its sports business

Lander Sports has released its 2017 biannual interim report on August 27. The report shows a total revenue of RMB 996 million, a 23.36% year-on-year decrease and a net profit of approximately RMB 14.5 million, decreased by 37.18%.

After a three-year endeavor in the sports industry, the Shenzhen-listed company has made RMB 28.1574 million in sports revenue in the first half 2017, a 1002.69% year-on-year growth, accounting for 2.83% of the total revenue.

Lander also reports remarkable growth in its sports town projects for the first 6 months of 2017. It has signed 3 projects including Tonglu International Soccer Town, Hangzhou Puyang Town and Chengdu Gexian Mountain Sports and Leisure Town.

In addition to this, the company has also made a heavy investment in the construction of sports complex projects. It has started 3 of those projects during this interim report period for 2017, including Chongqing Panlong Sports Park, Jiaxing Xiuhu and Hangzhou Xianlingang. As of now, Lander has 2 sports complexes in operation and other 3 under construction.

The sports business has also operated or signed 14 fitness clubs and is the operator of the 2017 CBSA International 9-Ball Open Pengzhou Event, the National Family Fitness Challenge and the 2017 Lishui Half Marathon.

The interim report also says the company is looking to obtain more quality intellectual property regarding soccer, basketball and winter sports in the coming five years.

Source: news.china.com

Proofread by William Logsdon