ANTA reports 29.4 percent growth of net profit in 2017

Chinese sportswear manufacturer ANTA Sports reported on Tuesday that its revenue grew 25.1 percent to 16.69 billion yuan, while profits attributable to shareholders rose 29.4 percentage points to a record 3.09 billion yuan.

The company’s net profit jumped 29.4 percent to 3.088 billion yuan by December 2017, from 2.385 billion yuan in the previous year. This means the Chinese brand has seen record annual net profit for a third straight year.

As shown in the annual report, ANTA, with over 10,000 locations around the world, sold more than 60 million shoes and 80 million clothes in 2017, directly providing 100,000 employment positions. Meanwhile, the market value of ANTA Sports broke the HK $100 billion mark, reaching the third place of its industry all over the world.

The year 2017 marked the 10th anniversary since ANTA was listed in the Hong Kong stock exchange and also means drastic transformation from a traditional private company.

“Our ‘Single-Focus, Multi-Brand, and Omni-Channel’ strategy has laid a solid and sound foundation,” As Ding Shizhong, Chairman and CEO of ANTA Sports, said, “However, we are not satisfied with only being a leading multi-brand company in China. Through our multi-brand strategy, we aspire to become a competitive global multi-brand company with newly added brands including KINGKOW and KOLON SPORT. ”

Source: dnkb.com.cn

Proofread by William Logsdon