“Established by SYC since 1873” the slide says as SYC (Shanghai Yacht Club & Resort) claims which is a pretty neat trick. According to their website they were incorporated in 2004.
The Shanghai Cup was indeed competed for in 1973 run by the Shanghai Yacht Club which, as a club run by expatriates living in the various Shanghai concessions had no Chinese members.
The Shanghai Yacht Club ceased to exist in the mid 1930’s when the Japanese invaded Shanghai and there is no link (other than a re-use of the name) between the original club and the modern commercial Chinese entity.
They cannot even research their history accurately. The cup in the second photo was actually purchased in 1876 (receipt attached).
That’s the thing about a public lie, you better make sure that absolutely no one knows the real story.