By Bingyan Wang


Anta Sports Products Ltd.'s revenue rose in 2022 with higher contributions from its e-commerce business amid the coronavirus pandemic, the company said Tuesday.

Revenue rose to 53.65 billion yuan ($7.80 billion) from CNY49.33 billion the year before.

Net profit for 2022 was CNY7.59 billion, slightly lower from CNY7.72 billion the previous year due to higher costs of sales and other expenses.

Its e-commerce business accounted for 34% of the company's overall revenue, compared with a 29% contribution in 2021, as the pandemic prompted the company to expedite its digitalization progress, Anta said. It added that its e-commerce revenue rose 31% in absolute terms despite a high base.

As China reopens, the company believes "the opportunities in the year of 2023 are unfolding." "The competition in the sportswear market has been increasingly heterogeneous," and the company will advance its globalization strategies, enhance corporate governance and management efficiency, Anta said.


Write to Bingyan Wang at bingyan.wang@wsj.com


(END) Dow Jones Newswires

03-21-23 0105ET