"Single-focus, Multi-brand, Globalisation" strategy manifested results with overall revenue for the financial period increased by 14.2 per cent year-on-year to RMB29.65 billion, doubling the revenue compared with the same period of 2019, and continuing to increase its market share. Compared with the same period of 2019, Anta and Fila segment revenues have grown by over 85 per cent each and all other brand total revenue has experienced an impressive growth of over 3.5 times.

Anta segment revenue grew by 6.1 per cent year-on-year to RMB14.17 billion. Fila segment revenue increased by 13.5 per cent year-on-year to RMB12.23 billion. The multi-brands strategy has yielded fruitful results. Descente and Kolon Sport have sustained their rapid upswing, and the total revenue of all other brands surged 77.6 per cent year-on-year to RMB3.25 billion, the company said in a press release.

The board has declared an interim dividend of HK82 cents per ordinary share for the six months ended June 30, 2023, representing an increase of 32.3 per cent year-on-year. The financial position continues to be stable, the cash generating ability was greatly improved and the cash flow was abundant. The free cash inflow in the first half of the year was RMB9.52 billion, an increase of 131.8 per cent over the same period of last year. As of June 30, 2023, the aggregate amount of cash and cash equivalents, fixed deposits held at banks with maturity over three months and pledged deposits registered RMB45.40 billion;

The company cooperated with several universities to build national academic workstations and postdoctoral research stations, and invested nearly RMB700 million in R&D activities during the financial period.

The company published "Supplier Sustainability Management Handbook" and "Labour Policy" which assists suppliers in fostering and maintaining a safe, healthy and compliant manufacturing environment, as well as creating an equitable, inclusive, healthy and safe working environment for the employees. It also implemented a training system for diversified talent development to create a brighter future.

"In the first half of this year, Anta Sports continued to advance its strategy of "Single-focus, Multi-brand, Globalisation" by leveraging its strategic advantages. The group adheres to a long-term vision and shows greater resilience in the ever-evolving market environment, while increasing investments for the future. Moving into the second half of the year, with the government's issuance of the “Guideline on Boosting the Growth of the Private Economy”, which includes several favourable policies for the sports industry, we maintain an optimistic outlook about the consumption prospects of the sportswear sector. The group will persist in supporting the real economy, deepening the multi-brand synergy model, elevating corporate governance standards, and upholding its leading position in the industry through technological innovation and refined operation,” Lai Shixian, co-CEO of Anta Sports, said.

Fibre2Fashion News Desk (RR)