Chinese sportswear group Li Ning has released its interim report 2017. The company said by June 30, its net profit increased by 67 percent to RMB 189 million with a revenue of 3.996 billion, up by 11 per cent.
Meanwhile, its gross profit margin grew from 46.7 percent to 47.7 per cent. It is worth noting that its revenue of the core brand LI-NING was RMB 3.966 billion, accounting for 99 percent of goup revenue.
Anta, Li Ning’s rival, grew its revenue by 19.2 percent to RMB 7.32 billion in the first half, which demonstrates its strong brand strength. Profit attributable to equity shareholders for the period increased by 28.5 percent to RMB 1.45 billion. Gross margin has reached 50.6 percent for the first time, with a growth of 2.7 percentage point.
Another Chinese sportswear company, 361 Degrees, launched its second quarter report on Monday. It shows a high unit growth year over year in its core brand, children's wear brand and ONE WAY.
In the first quarter, sales of 361 Degrees core brand and children's wear brand rose by 7 percent and 7.4 percent respectively, with the number of company-operated stores expanding to 3643 and 1069 accordingly.
Proofread by William Logsdon