Anta Sports shares jump on strong first-half earnings

Chinese sportswear company Anta Sports saw its shares surge on Wednesday following the release of impressive first-half earnings. The company reported a robust 12.9% increase in revenue, reaching 43.51 billion yuan ($6.47 billion) for the six months ending June. Additionally, profit attributable to shareholders rose by 12.9% to 7.94 billion yuan, excluding a gain from its stake in Amer Sports.

Anta's shares on the Hong Kong stock exchange climbed 7.7% to HK$77.4, their highest level since August 4. The company met all its key operating targets for the period, driven by its multi-brand strategy and Brand+Retail business model. Anta's sportswear sales remained strong in China, outperforming overall consumer spending. Premium professional sports, outdoor categories, and women's sports demonstrated robust growth, while emerging markets like Southeast Asia presented potential for further international expansion.

Anta also announced an interim dividend of 1.51 Hong Kong dollars per share. As the largest shareholder of Amer Sports, Anta reported the latter's revenue increasing to 24.71 billion yuan in the first half, up from 19.86 billion yuan the previous year.