原标题：安踏集团上半年收入超385亿元 增长14.3% 安踏体育用品有限公司发布2025年上半年业绩公告：集团上半年业绩再创历史新高，以多品牌强矩 阵，持续扩大领先优势，收入同比增长14.3%至人民币385.4亿元，旗下所有品牌上半年收入均创新高。 集团收入在超大体量下仍保持稳健增长，连续12年正增长，连续4年中国市场排名第一。 安踏集团董事局主席丁世忠表示："2025年上半年，全球市场竞争激烈。我们以多品牌优势及'品牌 +零售'的独特商业价值，在全球市场的不确定性当中，迎难而上，收获积极稳健的增长。我们坚定'单 聚焦、多品牌、全球化'的战略不动摇，聚焦主业，以多品牌满足不同品类、不同场景的多元消费需 求；进一步加速全球化进程，在东南亚、中东、北非、北美、欧洲等重要市场深探。安踏集团以多品 牌、多赛道参与世界体育行业的发展，通过创新为全球的消费者提供最好的商品价值；我们助力36支中 国国家代表队，坚定不移地助力体育强国建设，这是我们的社会价值；集团的多品牌资产+卓越运营 +全球协同实现了可持续增长，这是安踏的企业价值。未来我们要在全球竞争中占据独特而有利的位 置，向成为世界领先的多品牌体育用品集团的目标迈进。 ...

据安踏集团2025年上半年业绩显示，营收同比增长14.3%至385.4亿元，集团经营利润增长17%至101.31 亿元，经营利润率提升0.6个百分点至26.3%，自由现金流达75.5亿元，现金储备规模达555.8亿元，显示 出稳健的财务健康度。 报告期内，集团多品牌矩阵协同效应显著，安踏主品牌收入同比增长5.4%至169.5亿元；FILA品牌收入 同比增长8.6%至141.8亿元，据悉，2025年上半年FILA打造"ONE FILA"的品牌整体形象认知，同时聚焦 中国消费者对运动时尚的感知，推动创新商品开发，形成以POLO、羽绒服、菁英跑鞋、老爹鞋为代表 的商品IP。 （安踏集团财报） 战略层面，安踏持续深化全球化布局。上半年完成对德国户外品牌JACK WOLFSKIN的收购，组建联合 管理团队推进3-5年复兴计划，旨在填补中端户外市场空白；同时与韩国时尚集团MUSINSA成立合资公 司"MUSINSA中国"（安踏持股40%），主导自有品牌及多品牌集合店业务在中国市场的拓展，进一步 贴近年轻消费趋势。由安踏控股的亚玛芬体育收入同比增长23.5%至27.09亿美元，大中华区收入增速达 42.4%，凸显国际化品牌 ...

Core Insights - Anta Group held its third Innovation Awards ceremony in Xiamen, awarding over 1 million in total prizes, recognizing 21 innovative achievements across various categories [1] - The awards aim to enhance brand value and consumer perception through innovative products, technologies, and business models, laying a solid foundation for long-term growth [1] - Anta Group's commitment to innovation is reflected in its goal to become a global benchmark for innovation by 2030, as stated by the company's Executive Director and Co-CEO [2] Group 1: Innovation Awards - The Innovation Awards received nearly 300 submissions this year, with 21 projects recognized, including 8 in product innovation, 7 in technology innovation, and 6 in business model innovation [1] - The "PG7" running project won the gold award for product innovation, while the "Polyimide Technology" thermal material project and the "AI Simulation Engine" project won gold in technology innovation [1] - The awards have been held for three consecutive years, encouraging participation from all employees across various brands and departments within the group [1] Group 2: Innovation Initiatives - Anta Group launched the industry's first sports goods industry innovation accelerator, inviting startups to participate in strategic research and commercial applications of cutting-edge sports technology [3] - The innovation accelerator focuses on three key areas: advanced materials, digital intelligence, and logistics innovation, aiming to attract innovative resources and lead industry technological advancements [3] - A strategic partnership was established with Yushutech and Hong Kong Polytechnic University to research humanoid robots in sports science, enhancing the open innovation ecosystem in China's sports industry [3] Group 3: Future Investment in Innovation - Anta Group has invested a total of 20 billion in innovation over the past decade and plans to invest an additional 20 billion in the next five years for independent research and development [4] - The company holds the highest number of patent applications in the industry, with 5,830 patents, and is the first in the world to receive ISO56001 international innovation management system certification [4] - Anta Group has established a global open innovation ecosystem involving 7 design and R&D centers, over 70 universities and research institutions, and a significant number of experts and suppliers [4]

Core Viewpoint - Anta's story is entering a new phase as it aims to overcome growth bottlenecks and refocus on its main brand after significant external brand acquisitions [2][4][10]. Group 1: Financial Performance - In 2024, Anta's revenue reached a new high, growing by 13.5% to 70.826 billion yuan, with total revenue exceeding 100 billion yuan when including the off-balance-sheet brand Amer Sports [2]. - Anta's net profit increased by 52.36% year-on-year to 15.596 billion yuan, driven by a one-time equity income from capital operations [16]. - FILA, a key brand under Anta, saw its revenue growth slow down, with only a 6.1% increase for the year, which is below expectations [20]. Group 2: Brand and Market Dynamics - Anta and FILA, with a combined scale exceeding 26 billion yuan, are approaching growth bottlenecks, while competition in the sports apparel market intensifies [4][6]. - The main brand, Anta, is expected to regain focus as the company aims to surpass Nike in China within three years [7][8]. - The market is witnessing a shift towards mid-range consumer segments, with competitors like 361 Degrees gaining traction by offering lower-priced products [24][25]. Group 3: Strategic Adjustments - Anta's CEO, Xu Yang, emphasizes the need for a marketing-focused approach to revitalize the main brand, which has a broad market positioning [34]. - The company plans to reduce the number of less efficient stores by 135-235 by 2025, focusing on high-performing store formats like "Anta Champion" and "Super Anta" [38][39]. - Anta's e-commerce business is projected to grow by 20.7% in 2024, although this shift may pressure overall profit margins due to higher online discounting [42][43]. Group 4: Future Outlook - Anta aims for high single-digit growth for its main brand and mid-single-digit growth for FILA in 2025, while maintaining over 30% growth for brands like Descente and Kolon [54]. - The company is investing significantly in overseas markets, targeting a 15% share of international sales within five years [49].