Anta Sports sees increase in revenue

The country's leading sportswear producer Anta Sports Products reported a 13.8 percent year-on-year increase in revenue to 33.74 billion yuan ($4.73 billion) in the first six months of this year.

According to the company's interim report for 2024, its main brand, Anta, saw a 13.5 percent rise in revenue to 16.08 billion yuan, and Fila's revenue grew by 6.8 percent to 13.06 billion yuan.

Revenue from other brands including Descente and Kolon Sport surged 41.8 percent year-on-year to 4.6 billion yuan. Amer Sports, acquired by Anta in collaborating with a consortium in 2019, has posted a 14 percent revenue growth in this period.

The group's profit attributable to equity shareholders rose by 17 percent year-on-year to 6.16 billion yuan. Operating profit margin maintained at 25.7 percent, with the Anta brand reaching at 21.8 percent, the FILA brand at 28.6 percent, and other brands at 29.9 percent.

The company's average inventory turnover days were 114 days, a decrease of 10 days compared with the same period of 2023.

Its e-commerce revenue grew by 25.1 percent year-on-year, accounting for 33.8 percent of the overall revenue of the group, a 3 percentage point increase from last year.

Lai Shixian, executive director & Co-CEO of Anta Sports, said the sportswear industry remains stable and positive.

The hosting of the Paris Olympic Games has successfully sparked public interest and participation in sports, boosting industry demand, he said.

The company said on Tuesday it will spend up to $1.28 billion to buy back up to 10 percent of its shares in a bid to protect shareholders' interests. The share repurchase will take place in the next 18 months.

wangzhuoqiong@chinadaily.com.cns