Shanghai SIPG suffers RMB573m loss in first half of 2017

Shanghai International Port Group (SIPG), owner of Chinese Super League club, Shanghai SIPG, has reported an 8.45% year-on-year increase in the first half of 2017, with its revenue growing to RMB16.718 billion. Net profit reached RMB3.373 billion, reflecting a 15.62% growth in the same corresponding period of 2016.

Shanghai SIPG FC, a subsidiary of the group, generated revenues of RMB559 million in the first half of 2017, representing a loss of RMB573m in net profit attributable to the shareholders of the parent company.

Based in Xuhui, Shanghai, the club was founded in 2005 as Shanghai Dongya FC by former Chinese football coach Xu Genbao. Its home stadium is the Shanghai Stadium, which has a seating capacity of 56,842.

The club was promoted to the Chinese Super League at the end of the 2012 season after winning China League One. According to Forbes in 2015 the club was the third-most valuable football club in China, with a club value of US$159 million.

Source: Sohu

Proofread by Raymond Fitzpatrick