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SMC Capital, Khorchin Rider sign JV agreement (2)

By Huang Ying  (China Daily)

13:28, August 28, 2012

"Our company focuses on three sectors in the horse industry - horse breeding, horse feed and recreational horse clubs," said Lang Lin, founder and chairman of Khorchin Rider Horse, which was established in 2006.

He added that the horse breeding business generates most of the profits, but declined to provide detailed figures.

Compared with domestic rivals, Lang said that in addition to its years of breeding experience and its high-quality management team, the low cost of feeding a horse is one of its biggest advantages.

"For example, the monthly cost for keeping a horse can be between 4,000 yuan and 5,000 yuan in Shanghai, while at Rider, it falls to 1,000 yuan," Lang said, adding that the location of the company, the local government's support and their management techniques make this possible.

"Before we decided to invest in Rider, we conducted a lot of market research and found that many horse industry clubs or companies are losing money, but Rider's performance grew significantly from last year," said Eng.

"Our horse sales doubled this year compared with 2011, which can be seen as an indicator of the industry's development. Also, the industry's boom is connected with China's economic development," Lang said.

"Industries related to people's lifestyle consumption upgrades are growing rapidly in China. After golf and wine investments boomed in the last few years, the horse industry is coming of age in China," said Ren Zhong, investment director of SMC Capital China.

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