It has been claimed in the Chinese media that the conglomerate and investment company Fosun International are in advanced talks with the Bundesliga club, who currently sit third in the German top-flight and will play Monaco in the quarter-finals of the Champions League next month.
Fosun International bought Wolves last summer in a deal thought to be worth £45m. In an open letter after selling the club, former owner Steve Morgan said Fosun had "made a commitment to invest between £20-£30m over the next two years" into the club.
The Chinese company are reportedly interested in building a network of sister clubs across Europe and have been in talks with several different Bundesliga sides since the autumn, but are now thought to be concentrating their efforts on Dortmund.
A report on the Chinese sports marketing website Yutang Sports claimed on Tuesday morning that Fosun and Dortmund are in advanced negotiations, although an initial offer had been declined.
"When the Finance Manager of Borussia Dortmund was interviewed by the local Ruhr magazine Reviersport, he indicated that Borussia Dortmund has just been having exploratory talks on the tourism business with Fosun International,” the report states.
"As for the buyout offer from Fosun International, he also clarified that Borussia Dortmund won't accept the request from Fosun International, who tried to increase capital investment in order to gain a majority shareholding in Borussia Dortmund."
The conglomerate and investment company has links with the football agent Jorge Mendes who represents José Mourinho and Cristiano Ronaldo. Fosun also has stakes in the travel agent Thomas Cook, among several other interests.
Borussia Dortmund are the only German club listed on the Frankfurt Stock Exchange, although German football's '50+1' ownership rule prevents clubs from being completely taken over by foreign investment companies.