Anta Sports Reports Profit Surge Driven by Paris Olympics 2024

Profit Surge Following Paris 2024 Olympics

Anta Sports Products, provider of the Chinese athletes’ podium uniforms for the Paris Olympics 2024, reported an impressive surge in its interim profits. Net profit leaped 62.6% to 7.7 billion yuan (US$1.08 billion) over the first six months of 2024, outperforming forecasts compiled by S&P Capital IQ.

Boost in Sales and Online Revenue

Sales topped 33.7 billion yuan, marking a 13.8% increase compared to last year. This increase can primarily be attributed to the excitement generated by the 2024 Paris Olympic Summer Games, which acted as a catalyst for the sportswear sector and stimulated wider public interest in sports.

• Anta’s tracksuit, known as the “Champions Dragon Outfit”, featured distinctive designs representing traditional Chinese motifs.
• Online sales rose 25.1%, contributing to 33.8% of total revenues.
• The growth is linked to optimizing traditional e-commerce channels like T-mall and JD.com while exploring new avenues through social media.

Future Growth and Brand Expansion

Anta has expressed optimism about sustained growth amid rising health consciousness and supportive policies. Eileen Gu, 2022 Beijing Winter Olympian, remains a key brand ambassador, bolstering Anta's image within competitive sports.

The company has also announced a share repurchase plan, allocating HK$10 billion for future buybacks, reaffirming its commitment to enhancing shareholder value.