China’s largest sportswear maker Anta Sports Products Ltd. reported better-than-expected revenue for the first half of the year as it continues to tap Chinese consumers’ growing post-pandemic health awareness.
Revenue rose 14% to 38.5 billion yuan ($5.38 billion) in the first six months of the year, according to an earnings statement Wednesday, surpassing analysts’ estimate of 38.1 billion yuan. Half-year net profit declined 8.9% to 7.03 billion yuan while operating profit margin rose to 26.3%.
Anta Sports is riding a wave of enthusiasm for outdoor sports in China after the Covid-19 pandemic by offering a host of multibrand products aimed at the mass market to premium consumers. Its niche outdoor sportswear brands, including Descente and Kolon Sport, have experienced robust growth desp