Sports industry has witnessed a rapid growth in China, following an increasingly significant role of sports-related public welfare activities in social welfare undertakings.
Luo Jie, vice chairman and secretary general of the China Sporting Goods Federation (CSGF), stated that more and more companies are recognizing the importance of corporate social responsibility (CSR) and taking active measures to promote CSR, which contributes positively to the development of China's sports industry, and is in line with the concept of social responsibility (Social, S) in ESG.
In fact, the ESG performance of a company is also regarded as a key indicator by many investment funds thanks to the ever-growing ESG investing in the capital market in recent years. The core of ESG investing lies in that companies that actively practice ESG principles are often considered to feature stronger risk management capabilities and long-term sustainable development potential, which is similar to value investing in essence. Therefore, these companies are also more likely to attract investors' attention.
Following this logic, it deserves due attention of the value of sports-related companies that actively integrate ESG concepts with their own businesses and promote the development of sports-related public welfare activities.
Crazy Sports Group Limited, a leading digital sports entertainment operator and Internet sports industry leader in China, serves as a good observation sample. Let's start from here and see what efforts this excellent ESG performer has made.
Proactively Fulfilling "Triple Social Responsibility", Seeking Business for Good
Crazy Sports has always been committed to closely integrating sustainable development with corporate strategy, especially in social responsibility issues, and has received high recognition for its deep investment and positive contributions in this field.
Seen from its various actions in the past few years, social responsibility is the cornerstone and starting point for a digital sports and entertainment operator. The Group actively fulfills social responsibilities at a higher level in a broader sense, mainly reflected in three aspects.
1. Innovating to Meet Users' High Demand for Personalized Sports Content
Rapid screening and grasping of valuable sports content from massive amounts of information has become the core demand of sports enthusiasts in the current digital age. Therefore, the development and utilization of AI have an important bearing on the people's well-being and are the driving force for serving users.
Crazy Sports moves with the times and builds a powerful matrix of content + users + channels + AI big data on the basis of user purchasing behavior through leveraging the Group's sports community with nearly 200 million users as its core and more than 20 years of professional sports lottery big data on the Zu Cai Wang website. Based on AI big data models, the Group has developed multiple functions that both meet the needs of the market and users, and further improve the user experience.
The Group also boasts confidence in fulfilling its obligations to users and promoting sustainable development due to the ever-increasing importance of technological innovation as times change and core demands iterate.
At present, Crazy Sports holds rich experience in technological innovation while staying ahead in research and development. The Group continues to strengthen its ability of technological innovation and transformation, and implements innovative application results step-by-step. Its AI assistant "Ruyi" not only can filter information with fast but accurate results, but also further improve the efficiency of its users in obtaining and analyzing information. It is learned that "Ruyi" is the first domestic large model AI assistant tailored in specific for "Sports + Lottery" sector in China.
2. Closely Aligned with National Policies to Lead the Development of Cultural and Sports Industries
While providing users with a better experience, Crazy Sports is closely aligned with the national policies and employs its own endowments to drive the optimization and upgrading of related industries. In September of this year, the Group was once again recognized by local governments and professional organizations, and was selected for three consecutive years in the "Beijing Top 100 Private Enterprises in Cultural Industry".
Behind this, the Group has capitalized on its unique "Digital + Sports" and "Sports + Entertainment" resources advantages to successfully host significant sports IP events, such as the China Foshan WBC Professional Boxing Championship, which has achieved remarkable results in promoting the development of local tourism economy and carrying forward the traditional culture. More importantly, this move has made the sports economy a new driver for local development, thereby stimulating economic vitality.
In addition, the Group also upholds to the mission of "Let Sports Create Happiness", and makes effective contributions to promoting the integration of sports and education and the healthy development of young people through public welfare promotion activities such as the national karate team entering the campus and boxing champions entering the campus.
3. Exploring Distinctive Path of Public Welfare for High Social Value
Crazy Sports also keeps a close eye on the current social situation, actively participates in public welfare undertakings, and further conveys brand warmth and the power of goodness.
In practical terms, the Group has formed a social responsibility strategic system with its own characteristics. The 2024 "B.Duck Happy Run" at Chengde Mountain Resort Station hosted by the Group has contributed greater efforts to promoting healthy lifestyle behaviors in exceptional children and ensuring their rights to sport.
Furthermore, the Group responds to the revitalization of rural education and engages in the construction of quality education in rural schools. It has, for example, donated pianos and sports equipment to Wagou Village Primary School at Zhangfang Town of Fangshan District in Beijing.
In respect of education, Crazy Sports has further deepened its cooperation with Hainan Bielefeld University of Applied Sciences (BiUH) this year, paving the way for students' career development and promoting their comprehensive growth. In September, Hainan BiUH announced that the first batch of 13 students had the opportunity to intern at Crazy Sports. These students will have the chance to gain a deeper understanding of the cutting-edge developments in software development technology, participate in actual project development, and learn about the relevant knowledge of overseas product distribution, thereby broadening their international horizons and enhancing their practical work abilities.
These three aspects each have their own characteristics, while also having close internal connections, fully reflecting the feedback of Crazy Sports to stakeholders and its pursuit of business for good. Conclusion
Overall, Crazy Sports' practices in the "S" sector demonstrate its deep insight into ESG concepts with positive actions. These moves not only have a positive effect on the Group, but also bring confidence to investors and enhance the Group's market competitiveness. With the increasing attention of global capital markets to ESG investing, the practices of the Group are expected to further drive its performance in the investment market. 19/11/2024 Dissemination of a Financial Press Release, transmitted by EQS News. |
