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(Yicai Global) July 2 -- The success of the French national soccer team at this year's World Cup could lead to a hefty payout from its Chinese partner Vatti (SHE:002035), which saw stocks hit the A-share market's daily price fall limit of 10 percent at 2:07 p.m. today to close at CNY21.99 (USD3.3).
The French team defeated Argentina over the weekend to cruise into the last eight, while also raising concerns among investors in the Guangdong-based kitchen appliance maker over a potentially costly promotional promise made before the start of the competition in Russia.
Vatti, Les Bleus' official partner since March, has promised its customers full refunds on a range of products purchased in June if the team lifts the World Cup. The high-profile exits of football powerhouses such as Spain, Argentina and Germany are fueling French hopes that it will be their year.
Editor: William Clegg