{"id":52173,"date":"2023-08-23T19:22:46","date_gmt":"2023-08-23T23:22:46","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/anta-sports-shares-rise-on-strong-first-half-results\/"},"modified":"2023-08-23T19:22:48","modified_gmt":"2023-08-23T23:22:48","slug":"anta-sports-shares-rise-on-strong-first-half-results","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=52173","title":{"rendered":"Anta Sports Shares Rise on Strong First-Half Results"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"MW-BT-CO-20230822-711010\" role=\"document\">\n<p>By Sherry Qin<\/p>\n<pre><\/pre>\n<p>Anta Sports Products shares rose sharply early Wednesday after the Chinese sports-products maker reported a jump in first-half earnings.<\/p>\n<p>Anta&#8217;s shares were up 11% at 86.15 Hong Kong dollars (US$10.99), their biggest intraday rise since March 2023. However, the stock was still down 16% year to date.<\/p>\n<div class=\"paywall\">\n<p>Anta said Tuesday after the market closed that its first-half net profit with the effect of share of profit or loss of a joint venture rose to 4.75 billion yuan (US$651.3 million) from CNY3.59 billion a year earlier. The company&#8217;s gross profit margin gained 1.3% to an all-time high of 63%.<\/p>\n<p>Citigroup said in a research report that Anta&#8217;s net profit was 5% above their expectation. The company&#8217;s operating profit margin for its Fila business, which rose 7.2% on year to a high of 29.7%, contributed to the higher net profit, Citi analysts Xiaopo Wei and Vincent Yang said.<\/p>\n<p>Despite the stellar results, management said retail sales were weaker than expected in May and June and such sales weakness continued into July and August. Management expects Fila&#8217;s operating profit margin to normalize to 25%-30% in 2023.<\/p>\n<p>The analysts expect the company&#8217;s second-half earnings growth to significantly moderate from the first half, with uncertain topline growth and lower Ebit margin.<\/p>\n<pre><\/pre>\n<p>Write to Sherry Qin at sherry.qin@wsj.com<\/p>\n<pre><\/pre>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/anta-sports-shares-rise-on-strong-first-half-results-149d6213?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Sherry Qin Anta Sports Products shares rose sharply early Wednesday after the Chinese sports-products maker reported a jump in first-half earnings. Anta&#8217;s shares were up 11% at 86.15 Hong Kong dollars (US$10.99), their biggest intraday rise since March 2023. However, the stock was still down 16% year to date. Anta said Tuesday after the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-52173","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Anta Sports Shares Rise on Strong First-Half Results | iFintechWorld<\/title>\n<meta name=\"description\" content=\"By Sherry Qin Anta Sports Products shares rose sharply early Wednesday after the Chinese sports-products maker reported a jump in first-half earnings.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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