The Chinese sportswear maker saw a loss of RMB639,359,000 ($90.3 mm) over last year’s RMB 114,997,000 profit for the fiscal year ended Mar. 31 on revenue that was up 4% to RMB 1,744,023,000 ($246.2 mm) over RMB 1,678,916,000. Improving margins could not save the bottom line from a RMB 724 million loss from the investment segment compared to last year’s gain of RMB 131 million. Gross margin expanded 490 b.p. to 68.3%, while distribution expense ticked up 1% to RMB 1,038.6 million and administrative expense grew 5% to RMB 157.9 million.

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