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China’s Anta Sports posts strong growth in 2020 despite COVID-19

Abstract : China's largest sportswear company Anta Sports posted robust performance in the year 2020 despite the sluggish market caused by the COVID-19 pandemic.

FUZHOU, March 24 (Xinhua) — China’s largest sportswear company Anta Sports posted robust performance in the year 2020 despite the sluggish market caused by the COVID-19 pandemic.

The Fujian-based company raked in a total of 35.51 billion yuan (about 5.45 billion U.S. dollars) in revenue last year, up 4.7 percent year on year, maintaining growth for the seventh consecutive year, according to its annual financial results filed with Hong Kong stock exchange on Wednesday.

Its gross profit margin rose to 58.2 percent, the highest in the industry; cash, cash equivalents and deposits at the end of the reporting period reached 20.3 billion yuan, according to the report.

The Group’s highest market capitalization during the reporting period exceeded 300 billion HK dollars, and it was the first Chinese sports products company to be included in the HSI.

The company’s brands notably attracted more and more young consumers and successfully expanded their target groups, as the proportion of its online female shoppers increased to 50 percent and the total online members of ANTA and FILA exceeded 14 million, a year-on-year growth of 130 percent.

As part of its global ambition, Anta Sports has acquired a slew of global brands including Descente, Kolon Sport and Finland’s Amer Sports in recent years.

In 2009, Anta acquired franchises for Fila Group’s trademarks on the Chinese mainland as well as in Hong Kong and Macao.

Ding Shizhong, CEO of Anta Group, said the company will seize the opportunity of Tokyo 2020 and Beijing 2022, and he is confident that the retail sales of the company will reach 200 billion yuan by 2025.

With headquarters in Xiamen, east China’s Fujian Province, Anta Sports was listed on the Hong Kong Stock Exchange in 2007. Enditem

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Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy,BRI Trade,BRI Investment,Belt and Road weekly,Know Belt and Road,and the integrated information services for the Belt and Road Initiative (BRI).

Source: China’s Anta Sports posts strong growth in 2020 despite COVID-19

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