VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023 18:33
Four Chinese sportswear brands, Anta, Li-Ning, Xtep and 361°, have released their 2017 annual results as of March 22.
From the perspectives of overall market value, revenue, net profit, gross margin and expenditure, Anta ranked in first place, Li-Ning reversed its years of loss while Xtep and 361°continued to widen their gap from the former two brands.
According to Luo Yingying of Jiemian, Anta’s overall market value has reached more than HKD100 bn (USD12.74bn), which is 3 times the aggregate market value of Li-Ning, Xtep and 361°.
Anta, Li-Ning, 361°and Xtep generated a revenue of CNY16.69bn (USD2.64bn), CNY8.87bn (USD1.4bn), CNY5.16bn (USD0.82bn) and CNY5.11bn (USD0.81bn) respectively. Xtep was the only brand that experienced a downturn in revenue, mainly due to strategic transformation and retail channel restructuring.
Anta and 361°reported CNY3.09bn (USD489.57m) and CNY0.457bn (USD72.41m) in net profit respectively, representing a growth in varying degrees.
Li-Ning generated CNY0.515bn (USD81.59m) in net profit, meaning a 19.9 percent year-on-year decrease. If excluding the 10 percent stake in Double Happiness sold to Viva China in the 2016 financial year, the sportswear brand made a 56 percent growth in net profit.
Xtep declined by 22.7 percent to CNY408.1m (USD64.66m) in net profit due to a one-time loss on a buy-back of inventories amounting to CNY120.8m (USD19.14m).
Source:Sohu
Proofread by William Logsdon
Related coverage
Spartan Race releases its 2018 event plan for China
07 Feb 2018
Xtep reports a 5.2 percent revenue decrease in 2017
22 Mar 2018
361 Degrees to launch new line of football boots
13 May 2015
ANTA named China’s most valuable sportswear brand for sixth consecutive year
03 Jun 2015
ANTA to set up joint venture company with Kolon Sport
23 Oct 2017
More from Yutang Sports
SportAccord 2024 - combating online abuse ‘chance for sport to show its power’
22 Mar 2024
Reasons why Leading Gold Partner Sport Event Denmark returns to SportAccord every year
08 Feb 2024
Leading legal minds tackle athlete representation and rules for transgender athletes at LawAccord
16 Feb 2024
HealthAccord spotlights mental health and female athlete well-being
08 Feb 2024
SportAccord Bronze Partners Make Their Mark on Global Stage
08 Mar 2024
Yutang Sports
loading...