Net profits at China 's largest supplier of sportswear , Anta Sports ##wear , rose 34 % year on year to CNY1.9bn ( $ 280 m ) during H1 months , exceeding expectations and causing its shares to rise by as much as 8 % on 15 August . The company 's revenue was reported at CNY10.6bn ( $ 1.5bn ) , a surge of 34 % year on year . " Since the beginning of 2018 , it was clear to us that China has set itself the goal of becoming a sports powerhouse and the sportswear industry is entering a golden era of rapid growth with unprecedented infrastructure development , ” said z Shizhong , the company ’s founder and chairman .
Net profits at China's largest supplier of sportswear, Anta Sports Products, rose 34% year on year to CNY1.9bn ($280m) during H1 2018, beating expectations and causing its shares to rise by as much as 8% on 15 August. The company's revenue was reported at CNY10.6bn ($1.5bn), a surge of 44% year on year. "Since the beginning of 2018, it was clear to us that China has set itself the goal of becoming a sports powerhouse and the sportswear industry is entering a golden era of rapid growth with unprecedented infrastructure development,” said Ding Shizhong, the company’s founder and chairman.