NBA Official Chinese Partners Stop Cooperating CBA Concept Stocks Rise

category:Finance
 NBA Official Chinese Partners Stop Cooperating CBA Concept Stocks Rise


Of the 25 official NBA partners listed on the official NBA website, 11 are Chinese-funded. They are Anta, Changhong, Ctrip, Texas, Yihe Automobile, Master Kang, Mitsubishi, Mengniu, Migu Video, Wuzun, Win-win Technology. Up to submission, the above enterprises have announced termination or suspension of their cooperation with the NBA.

In addition to the official NBA certification partners, there are many Chinese companies, such as Ruisheng Coffee, vivo, Pudong Development Bank, you and I loan, Pick, Hero Mutual Entertainment and so on, publicly announce that they suspend or suspend their cooperation with the NBA, which had different levels of cooperation with the NBA in China before.

On the broadcasting platform, both CCTV Sports and Tencent Sports announced on October 8 that they had decided to suspend the broadcasting arrangements for NBA matches immediately. The Tiger Pop Sports, which started at the Basketball Match Forum, also said on October 6 that it would suspend live broadcasting, broadcasting and information coverage of events involving the Houston Rockets.

At the same time, the NBA China project established in China may not be immune. The NBA Center in Wuqing, Tianjin, is built by the cooperation of NBA China and Hongkun Real Estate Group. Relevant director of Hongkun Real Estate Group told China Business News that at present the center has removed all NBA commodities and suspended all NBA-related activities.

China has now become the largest overseas market for the NBA. Although the official NBA financial report does not disclose relevant data, according to the National Through Train statistics, the NBA leagues annual net profit is about $1.8 billion. China contributes about $150-200 million in net profit to the NBA each year, accounting for about 10% of the total revenue of the NBA. David Carter, executive director of the Sports Business Research Center at the University of Southern California, predicts that the proportion will reach 20% by 2030. There is no other market in the world that has so much room for NBA growth as China.

It is worth mentioning that Alexander, the former owner of the Rockets, in an interview with media reporters in 2006, said publicly: I want to thank Yao Ming and McGrady, especially Yao Ming, who brought me $1.2 billion in wealth. Because developing the Chinese market is my biggest business opportunity. Until 2017, when Alexander sold the Rockets, the transaction price was $2.2 billion, 25 times higher than when he bought them.

Alexander and Yao [email protected] China

But now CNN News points out that the NBA is in a tightrope state because of the Morey Incident. The economic losses caused by the withdrawal of Chinese capital to the NBA can not be ignored. Jason Wellock, a commentator on Fox News, even believes that the incident has made American fans aware of how much influence China has had on NBA matches.

Today, the opening of the Qingdao Double Star is closed again. Li Ning, the Hong Kong stock, rose 2.4% to HK$25.75 by the end of the issue, bringing its share price to a nine-year high.

Source: Author of Observer: Xu Qianang, Editor-in-Charge: Wang Honggui_NF7326