Complex sentence: The team was founded in November 2000 by Xi'an Dongsheng Group (西安东盛 (企业) 集团, Pinyin: Xīān Dōngshèng (Qǐyè) Jítuán), and in August 2001 they won the "B" league championship and were promoted to the CBA.
Split into simpler sentences: The team was founded in November 2000 by the Xi'an Dongsheng Group (西安东盛 (企业) 集团, Pinyin: Xīān Dōngshèng (Qǐyè) Jítuán). In August 2001, they won the "B" league championship, and were "promoted" to the CBA.