Lander Sports Development (SHE:000558) partnered with certain entities to establish a 50 million yuan joint venture.
The venture, Chengdu Paizai Sichuan Film and Tourism Cultural Development, will offer film production services, tourism management, and advertising services.
Beijing Chunguanghao Cultural Media, Shanghai Linlinjiangzi Cultural Media and Chengdu China Youth Travel Service are the other joint venture partners.
The Chinese sports and leisure development company will invest 20 million yuan into the venture, owning 40% of its share capital.
The company's shares closed over 1% lower.
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