Four Chinese sportswear brands, Anta, Li-Ning, Xtep and 361°, have released their 2017 annual results as of March 22.
From the perspectives of overall market value, revenue, net profit, gross margin and expenditure, Anta ranked in first place, Li-Ning reversed its years of loss while Xtep and 361°continued to widen their gap from the former two brands.
According to Luo Yingying of Jiemian, Anta’s overall market value has reached more than HKD100 bn (USD12.74bn), which is 3 times the aggregate market value of Li-Ning, Xtep and 361°.
Anta, Li-Ning, 361°and Xtep generated a revenue of CNY16.69bn (USD2.64bn), CNY8.87bn (USD1.4bn), CNY5.16bn (USD0.82bn) and CNY5.11bn (USD0.81bn) respectively. Xtep was the only brand that experienced a downturn in revenue, mainly due to strategic transformation and retail channel restructuring.
Anta and 361°reported CNY3.09bn (USD489.57m) and CNY0.457bn (USD72.41m) in net profit respectively, representing a growth in varying degrees.
Li-Ning generated CNY0.515bn (USD81.59m) in net profit, meaning a 19.9 percent year-on-year decrease. If excluding the 10 percent stake in Double Happiness sold to Viva China in the 2016 financial year, the sportswear brand made a 56 percent growth in net profit.
Xtep declined by 22.7 percent to CNY408.1m (USD64.66m) in net profit due to a one-time loss on a buy-back of inventories amounting to CNY120.8m (USD19.14m).
Proofread by William Logsdon