Net income attributable to shareholders jumped 35% to RMB 10,236 million ($1,444.9 mm) in 2023 from RMB 7,590 million on net sales that increased 16% to RMB 62,356 million ($8,802.4 mm) from RMB 53,651 million. The top line benefited from the PRC’s recovery and favorable government policy in the broader retail market following the end of Zero-Covid, along with prior DTC expansion investment paying dividends and success in e-commerce and wholesale.

Gross margin expanded 240 b.p. to 62.6% on DTC expansion at Anta and lower retail discounting at Fila, putting Anta up ... Log in to view full article.