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Anta Sports Posts Stronger Profit as E-Commerce Contributions Rise

   By Yongchang Chin 
 

Anta Sports Products Ltd. posted a stronger annual net profit amid higher contributions from its e-commerce business, the company said Tuesday.

Net profit for 2021 was 7.72 billion yuan ($1.21 billion), compared with CNY5.16 billion the previous year.

Revenue rose to CNY49.33 billion from CNY35.51 billion.

E-commerce revenue contributed 29% of the company's overall revenue, compared with a 26% contribution in 2020, Anta said, adding that e-commerce revenue rose 50% in absolute terms despite a high base.

"Consumer behaviors have changed as a result of the pandemic, and customers have grown accustomed to shopping on online platforms, making e-commerce the primary arena for consumer products," the company said.

Anta added that national policies from Beijing were broadly supportive of industry growth, pointing to the country's sports-development plan as well as China having hosted the Olympic Games.

 

Write to Yongchang Chin at yongchang.chin@wsj.com

 

(END) Dow Jones Newswires

March 22, 2022 00:52 ET (04:52 GMT)

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