Chinese sportswear giant Anta posts rising revenue, profit in H1

FUZHOU, Aug. 23 (Xinhua) -- China's leading sportswear producer Anta Sports reported double-digit growth in both revenue and profit in the first half of this year.

The group's revenue reached 29.6 billion yuan (about 4.1 billion U.S. dollars), marking a 14.2 percent rise year on year and a 100.2 percent increase from the same period of 2019, Anta said in its half-year results.

Among the revenue, the Anta brand contributed about 14.2 billion yuan, while the Fila brand contributed 12.2 billion yuan.

The profit of the Fujian-based company in the first six months rose by 34 percent year on year to about 5.3 billion yuan. The group's operational profit margin increased to 25.7 percent during the period.

Chinese sports enterprises such as Anta, Xtep, and Li-Ning enjoyed considerable growth in 2022, boosted by the Winter Olympics and their increasing appeal to young Chinese consumers. Anta's full-year revenue rose 8.8 percent year-on-year to 53.65 billion yuan last year.