安踏集团：上半年收入超385亿元，增长14.3%

Core Viewpoint - Anta Group reported strong financial performance in the first half of the year, with significant revenue and profit growth, indicating resilience and strategic positioning in a competitive global market [1][3][5]. Financial Performance - Revenue for the first half reached 38.544 billion yuan, a year-on-year increase of 14.3% [1] - Net profit was 7.031 billion yuan, up 14.5% year-on-year [1] - Operating profit grew by 17% to 10.131 billion yuan, with an operating profit margin of 26.3%, exceeding market expectations [1][5] Brand Performance - Anta brand revenue hit a record high, increasing by 5.4% to 16.95 billion yuan, outperforming the textile and apparel average [3] - FILA brand revenue also reached a record high, rising 8.6% to 14.18 billion yuan, surpassing market expectations [3] - Other brands saw a significant revenue increase of 61.1%, totaling 7.41 billion yuan [3] Strategic Initiatives - Anta completed the acquisition of the German outdoor brand JACK WOLFSKIN and is developing a 3-5 year revitalization plan [3] - The company announced a joint venture with South Korean fashion group MUSINSA, with Anta holding a 40% stake [4] - Amer Sports, controlled by Anta, reported a 23.5% revenue increase to 2.709 billion USD, with Greater China revenue up 42.4% to 856 million USD [4] Operational Efficiency - The company achieved a 17% increase in operating profit, with various brands showing strong operating profit margins: Anta at 23.3%, FILA at 27.7%, and other brands at 33.2% [5] - The net cash inflow from operations was 10.93 billion yuan, with free cash flow of 7.55 billion yuan, indicating stable cash generation capabilities [5] - As of June 30, the company held cash and cash equivalents totaling 55.58 billion yuan, providing a solid foundation for future investments [5] Innovation and Employment - Over the past decade, Anta has invested 20 billion yuan in innovation, with nearly 1 billion yuan allocated in the first half of the year for R&D [5] - The company employed approximately 65,500 staff, including over 1,000 new graduates, and indirectly created over 200,000 jobs in the supply chain [5] Social Responsibility - Anta and the He Min Foundation donated over 360 million yuan in the first half of the year, with total donations exceeding 3.04 billion yuan to date [6] - The foundation plans to donate over 1.13 billion yuan in 2025 [6]