ANTA Sports Products Ltd. (02020.HK) posted 20.24 percent growth in net profit for the first half amid recovery in the sports apparel and accessories sector.
Net profit surged to 965 million yuan (US$155.3 million) powered by same-store sales under its own brand which posted double-digit growth in the second quarter, according to the Hong Kong Economic Journal.
The company said orders have gown for nine consecutive quarters.
Chairman and chief executive Ding Shizhong said the company is targeting annual sales of 100 million pairs compared with 40 million pairs at present.
Ding said the company is seeking acquisition opportunities in the second half.
It is ramping up plans to develop its soccer-related sportswear business to boost its revenue contribution to 5 percent of sales, he said.
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