The bottom line at the Chinese sportswear maker swung back to a RMB 207,000,000 ($29.0 mm) profit from a loss of RMB 639,359,000 for the fiscal year ended Mar. 31 on revenue that was down 4% to RMB 1,680,135,000 ($235.2 mm) from RMB 1,744,023,000. Gross margin improved 30 b.p. to 68.6%, while distribution expense ticked up 1% to RMB 1,054.4 million, and administrative expense was cut by 17% to RMB 130.9 million. The bottom line further benefited from the investment segment, registering a RMB 271 million gain compared to losses of ... Log in to view full article.