The Chinese sportswear brand’s net income attributable to shareholders increased 37% to RMB 550.9 million ($83.3 mm) in the first half from RMB 401.4 million, as revenues grew 18% to RMB 3,653.8 million ($552.3 mm) from RMB 3,107.1 million. Gross margin contracted 30 basis points to 41.5%, despite significant price hikes implemented to keep up with rising production costs. A big increased in advertising and promotion spending helped send selling and distribution expenses up 31%, but it held the line on administrative expenses, which grew just 2%. Total SG&A was up ... Log in to view full article.