Chinese regulator has approved Shanghai Lisheng Racing Company to launch IPO. The racing company was in cooperation with Kumho Tire for three years during 2013-2015.
In an agreement signed in 2013, Humho Tire was the unique tire supplier for all the particiating teams in China Touring Car Championship (CTCC) from 2013 to 2015.
Meanwhile, Kumho Tire provided 3.5 million yuan sponsorship fees for Lisheng Sports.
Shanghai Lisheng Racing Company owns a few racing brands in China, including CTCC, Polo Cup, China Go-Kart Championship, etc., Shanghai Racing Club and a few race tracks in China.
Chinese celebrity Han Han is a core racing driver signed to Lisheng Racing. Han Han does not own any stake in Lisheng Racing.
