The Chinese sportswear brand’s net income attributable to shareholders was up 33% in the first half to RMB 401,435,000 ($62.2 mm) from RMB 301,966,000, as revenues climbed 16% to RMB 3,107,109,000 ($481.1 mm) from RMB 2,686,126,000. Profits exceeded 2019 levels by 9%, but sales were 4% lower than two years ago. Gross margin expanded by 400 basis points to 41.8%, and selling and distribution expenses jumped 31%, while administrative costs were up 15%. Profitability was helped by just RMB 2.5 million in impairment of trade receivables this year, compared to RMB 34.9 million, and a reduction in interest expense to ... Log in to view full article.