Vango Sports reports 314.95% growth in net profit in 2017

Vango Sports, a sports company specializing in fencing training, has released its annual report for 2017 financial year.

As shown in the report, the company generated a revenue of CNY266m (USD42m), representing a 45.02% year-on-year growth. Vango attributes the growth to the fact that its training revenue grew by 44%

The net profit attributable to the shareholders of the listed company was CNY19.03m (USD3.01m), an increase of 314.95% compared with the previous year. This is mainly due to the rate of increase in operations revenue exceeding that of management and sales expenditures.

During the 2017 financial year, Vango Sports also experienced an increasing number of members, while Eastern China and Northern China are the main markets that contribute to the revenue growth.

The report also pointed out that Shanghai Vango Sports Center welcomed its first whole operation year in 2017 and that the company established 6 new fencing centers.

According to the report, Vango currently sees sports training as its major business, with the number of sports training coaches reaching 540. In addition to this, Vango also has rich venue resources, expanding such business across 14 venues in Chinese cities including Beijing, Shanghai, Shenzhen, Guangzhou, Hangzhou and Wuhan.

Source: Sohu

 Proofread by William Logsdon