Among the latest developments in the soccer world, shocking news came out of Beijing on May 23rd that Parma FC, a team relegated to Italy's second division, has thrown an olive branch to former Evergrande boss Carlo Cannavaro to cooperate with them. Meanwhile, Chinese Super League clubs, especially Guangzhou, are facing the challenge of strict cost control.
From the end of 2015 to the first half of 2020, Evergrande Group's accumulated losses have exceeded RMB 7.5 billion, according to relevant data. Between 2017 and 2019, its operating costs climbed sharply, soaring from 1.767 billion yuan to 2.89 billion yuan. Although revenues increased from RMB528 million to RMB950 million over the same period, this increase still could not match the rate of cost growth.In 2019, Evergrande's full-year loss was a whopping RMB1.94 billion.In the first half of 2020, hit by the New Crown outbreak, its main revenues sharply shrunk to a mere RMB10.13 million, while in the same period of the previous year the figure was as high as RMB352 million, representing a sharp drop in revenues of 97.1% .
