Palm have been named the new major sponsor of West Brom.
The Express & Star says Chinese landscaping company Palm, with whom Lai has a long-standing association, will be the Baggies principal sponsor from next season with their logo featuring on the front of the club's shirt.
Formed in 1984, the company operates in more than 20 cities in China, Hong Kong and Europe.
Lai, who completed a £175 million takeover of Albion last August, was responsible for co-founding its eco-town development arm and Palm, which is valued at £1.8billion on the Chinese stock exchange, contributed to his buy-out of Jeremy Peace.
Lai said: “Palm and Albion are naturally aligned and I am thrilled to see this partnership become even stronger.
“I believe we have an exciting future and we can tackle it knowing we are stronger together."
Source: tribalfootball.com