Net income attributable to shareholders jumped by 50% to RMB 7,720 million ($1,197.1 mm) at the Chinese sportswear giant, from RMB 5,162 million prior, as revenues increased 39% to RMB 49,328 million ($7,648.9 mm) from RMB 35,512 million with strong growth from both Anta and Fila. Anta thrived despite some of the same headwinds western brands faced, including retail and factory shutdowns as part of China’s strict, Zero Covid policy. Of course, Anta and other local brand benefitted from the widespread boycotts of Western brands over their refusal to source cotton or labor from Xinjiang.

Overall gross margin expanded by 350 ... Log in to view full article.