8月26日晚间，力盛体育（002858）发布2025年半年报。报告期内，公司实现营业收入2.72亿元，同比 增加21.94%；归母净利润1,532万元，同比增加11.97%。2025年第二季度，公司实现归母净利润与去年 同期相比暴涨319%。 上半年，力盛体育运营国际/亚洲级、国家级及区域级赛事共55场次，较去年同期增加10场次，主营业 务稳扎稳打。继续深耕赛车赛事IP的同时，公司积极探索大体育领域的新机遇，将IP运营拓展到高尔夫 领域。截至6月底，已成功举办7站赛事，吸引200多名国内外顶尖高尔夫选手参与。该赛事业务的拓展 将助力公司持续强化赛事运营能力，维护赛事品牌价值。 与此同时，随着海南自贸港封关进入倒计时，力盛体育加快推进海南国际赛车场项目的建设。未来，公 司将主导海南国际赛车场项目运营，力争实现社会效益与经济效益的双赢。 ...

(原标题：力盛体育（002858）2025上半年净利润同比增11.97%持续深化赛事运营能力) 赛事IP融合文旅，顺利拓展新赛道 分业务看，核心业务体育赛事经营上半年实现营业收入1.92亿元，同比增加30.2%，占营业收入的比例 进一步提升至70.62%。上半年，公司运营国际、亚洲级、国家级及区域级赛事共55场次，较去年同期 增加10场次，主营业务稳扎稳打。 随着海南自贸港封关进入倒计时，力盛体育加快推进海南国际赛车场项目的建设。2025年2月，海南新 能源汽车体验中心项目赛道、赛事综合楼工程(阶段性)正式动工，公司控股子公司海南智慧新能源汽车 发展中心有限公司针对该项目已投入专项资金1.84亿元，项目进入实质性建设阶段。 此外，体育场馆经营实现营业收入6717万元，同比增加22.74%，营业收入占比提升至24.72%。在现有 上海、株洲两大赛车场布局的基础上，力盛体育进一步开发海南地区发展潜力，各项业务有序推进中。 2025年上半年，力盛体育把握全球经济和体育市场战略，引入国际顶级赛事的同时，继续拓展公司在亚 洲中东地区、澳大利亚等海外国际顶级赛事，持续推动赛事运营服务能力出海，境外营业收入1.41亿 元， ...

8月26日晚间，力盛云动（上海）体育科技股份有限公司（简称：力盛体育 股票代码：002858.SZ）发 布2025年半年报。上半年，受益于新增海外赛事收入及场馆收入，公司实现营业收入2.72亿元，同比增 加21.94%；归母净利润1，532万元，同比增加11.97%。2025年第二季度表现亮眼，归母净利润与去年 同期相比暴涨319%。 分业务看，核心业务体育赛事经营上半年实现营业收入1.92亿元，同比增加30.2%，占营业收入的比例 进一步提升至70.62%。上半年，公司运营国际/亚洲级、国家级及区域级赛事共55场次，较去年同期增 加10场次，主营业务稳扎稳打。 其次，体育场馆经营实现营业收入6，717万元，同比增加22.74%，营业收入占比提升至24.72%。在现 有上海、株洲两大赛车场布局的基础上，力盛体育进一步开发海南地区发展潜力，各项业务有序推进 中。 赛事IP融合文旅，顺利拓展新赛道 2025年上半年，力盛体育把握全球经济和体育市场战略，引入国际顶级赛事的同时，继续拓展公司在亚 洲中东地区、澳大利亚等海外国际顶级赛事，持续推动赛事运营服务能力出海，境外营业收入1.41亿 元，同比增加16.41%，营 ...

Summary of Lisheng Sports Conference Call Company Overview - **Company**: Lisheng Sports - **Industry**: Sports Event Management and Operations Key Points and Arguments Financial Performance - Lisheng Sports achieved a record high total revenue of over 400 million yuan in 2024, despite facing long-term equity investment losses and goodwill impairment [2][8] - Core racing and event operations remained profitable, while emerging karting and digital sports businesses incurred losses [2][8] - The company expects improved performance in 2025 due to reduced risks and an employee stock ownership plan [2][8] Business Strategy and Expansion - The company is expanding its strategy from racing to a broader sports domain, having secured golf event authorization in 2025 and planning to extend into tennis, cycling, and marathons [2][4] - The golf business will encompass events, practice facilities, and equipment, with expected revenue contributions starting in 2025 and significant growth anticipated post-2026 [2][5] - The Haikou racetrack is projected to be completed by the end of 2026, contributing to revenue from 2026 to 2027, benefiting from Hainan's free trade zone operations and tourism consumption [2][6] Market Outlook - The company is optimistic about the golf market, predicting that a well-structured full industry chain could surpass the scale of its current racing business [2][7] - Long-term revenue target is set to exceed 1 billion yuan through a "5+4+2" model [2][7] Revenue Streams and Profitability - The commercial value of golf events includes sponsorship, registration fees, merchandise, and broadcasting rights, with significant profit potential once initial costs are covered [2][8] - The expected revenue for golf events is around 400 million yuan, with profits projected between 150 million to 200 million yuan [12] Future Developments - The company plans to explore other sports events like marathons and tennis in 2026, contingent on progress in 2025 [14] - Additional racetrack projects are planned outside Hainan, driven by the growing demand for performance cars in China [15] Challenges and Risks - The company faced challenges in the past year due to long-term equity investment losses and goodwill impairment, alongside losses in karting and digital sports due to high initial investments [8] - The focus for 2025 will be on ensuring profitability and avoiding large-scale loss-making investments, particularly in AI and digital sports [18] Market Comparison and Insights - Domestic golf event profitability is expected to improve through marketization, with potential comparisons to successful overseas models like the European Tour [9][10] - The company is analyzing the commercial viability of various sports events, considering market competition and audience characteristics [20] Important Milestones - Key milestones to watch in 2025 and 2026 include developments in the golf business, the construction of the Haikou racetrack, and the progress of the company's capital increase and buyback plans [21]

Group 1: Company Overview - Lisheng Yundong (Shanghai) Sports Technology Co., Ltd. is a leading automotive sports service provider in China, focusing on sports event management, venue operations, marketing services, and digital sports business [2]. - The company achieved a record revenue of CNY 441 million in 2024, representing a year-on-year growth of 8.77% [2]. - The sports event management segment generated CNY 270 million, up 20.79%, accounting for 61.24% of total revenue [2]. Group 2: Financial Performance - The operating profit from the sports event management segment reached CNY 73.06 million, a 46.79% increase [2]. - Revenue from venue operations was CNY 113 million, with a significant growth of 35.24%, and operating profit surged by 251.95% to CNY 12.89 million [2]. - The company also reported positive profit growth in Q1 2025 [2]. Group 3: Future Plans and Projects - In 2025, the company plans to host approximately 20 golf events across the country, having secured authorization from the China Golf Association [4]. - The Hainan racetrack project commenced construction in February 2025, with an expected completion date by the end of 2026 [5]. - The company is focusing on innovative golf events and the Hainan racetrack as key growth drivers for future financial performance [7]. Group 4: Employee and Market Strategies - The company has implemented an employee stock ownership plan to enhance team cohesion and promote long-term development [6]. - A share buyback plan is in place to stabilize market expectations and maintain company value [3]. - The company is actively pursuing innovative collaborations and investments in the sports industry to expand its business and increase shareholder returns [7]. Group 5: Supportive Policies - National policies are favorable for the company's growth, including initiatives promoting "event economy" and financial support for the sports industry [8]. - Relevant government documents outline plans for enhancing sports consumption and promoting health, which align with the company's strategic direction [8].