(Yicai Global) March 12 -- The government of Chongli district in Zhangjiakou, one of the venues for the 2022 Beijing Winter Olympics, will commission two firms, including Messe Munchen’s Chinese unit, to hold annual sport exhibitions over the next five years to boost local winter sports and summer outdoor sports.
The Chongli authorities, Messe Munchen Shanghai, and Chinese outdoor sports equipment supplier Sanfo Outdoor Products inked a framework cooperation agreement in this regard today, Beijing-based Sanfo announced.
Under the agreement, Chongli will hold a summer outdoor sports exhibition and a winter sports exhibition each year until 2025, with Messe Munchen Shanghai overseeing the drafting and implementation of business cooperation plans and ancillary cultural events.
Shares of Sanfo [SHE: 002780] rose 1.9 percent today to close at CNY18.35 (USD2.81) each.
It will be responsible for the planning and organization of various activities, including ancillary events, as well as the development and implementation of some business cooperation plans for the exhibitions and events. It will also be in charge of government promotional activities for exhibitions, Sanfo said.
The statement did not give financial details about the exhibitions, saying only that the contracting parties will pen separate deals on specific businesses and items.
Chongli will take the opportunity of being a major venue for the Beijing Winter Olympics to enhance its global visibility for winter and outdoor sports, the statement noted. It hopes to attract more well-known domestic and foreign sports brands to the district and promote development of the local sports industry.
Chongli will hold the biathlon, cross-country skiing, ski jumping, Nordic combined, freestyle skiing, and snowboarding events for the Beijing Winter Olympics.
Sanfo is a listed company that sells outdoor sportswear and gear and provides outdoor sports services. As a sales agent, it represents Swiss outdoor clothing and equipment brand Mammut and technology fashion sports brand X-Bionic, US functional backpack brand Mystery Ranch, and Italian outdoor sports equipment brand La Sportiva.
Editor: Peter Thomas