Chinese sportswear giant Anta posts rising revenue, profit in H1

FUZHOU -- 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 ($4.1 billion), 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.