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 44% on 15 August. The company's revenue was reported at CNY10.6bn ($1.5bn), a surge of as much as 8% 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.
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.