China's top table tennis equipment producer, Double Happiness, awarded the gold-sweeping Chinese team with 1.2 million yuan (17,600 U.S. dollars) on Monday.

Double Happiness presented the prize money to the eight-member Chinese Olympic table tennis team at a ceremony that officially opened the company's newly-built headquarters in Shanghai.

The ceremony was also attended by International Table Tennis Federation President Adham Sharara, Chinese Table Tennis Association Chairman Xu Yinsheng, and Cai Zhenhua, deputy director of the State General Administration of Sport who used to be a table tennis player and head coach of the Chinese team, as well as gymnast-turned-entrepreneur Li Ning who owns 42.5 percent of Double Happiness' shares.

Double Happiness, which also makes weightlifting and badminton equipment, was an official equipment supplier to the Olympic table tennis, weightlifting and badminton competitions last month.

The all-mighty Chinese team swept all the four table tennis golds in the Olympics, sweeping the whole set of medals in men's and women's singles.

The ITTF chief Sharara spoke highly of Double Happiness' contributions to the sport, saying the company adds "fashion and modernity" to table tennis.

China's leading players Wang Hao, Wang Liqin and Wang Nan use Double Happiness' blades, while the other Chinese Olympians use the company's glue or rubber.

Source:Xinhua