ANTA SPORTS (02020) released its annual performance, with revenue increasing by 13.3% year-on-year to 80.219 billion yuan, and its market share in China rising to 21.8%.

ANTA SPORTS (02020) released its annual performance for the year ending December 31, 2025, with a year-on-year increase in revenue of 13.3% to RMB 80.219 billion. Excluding gains from the listing of Amer Sports and the dilution of equity from the Amer Sports share issuance in 2024, net profit attributable to shareholders increased by 13.9% to RMB 13.588 billion. During this fiscal year, the Group recorded a net cash inflow from operating activities of RMB 20.996 billion, and free cash flow of RMB 16.106 billion, maintaining a stable cash generation capability. The final dividend per ordinary share is HKD 1.08. In 2025, it was a year of resilient growth for ANTA SPORTS. Despite the complex and ever-changing macro environment and ongoing industry competition, the group maintained its strategic focus, not chasing short-term fluctuations but instead concentrating on improving operational quality and long-term capabilities. In the past year, the group's revenue surpassed RMB 80 billion for the first time, achieving positive growth for the 12th consecutive year in the context of a large base. According to international authoritative institutions, ANTA SPORTS increased its market share in China's sports goods market to 21.8% (2024: 20.8%), maintaining a leading position in the industry, and ranking among the top three globally. At the same time, the company continued to optimize profit structure and cash flow quality, maintain stable asset-liability levels, and ensure sufficient liquidity to handle uncertainties in the market cycle. ANTA SPORTS remains steadfast in its "single focus, multiple brands, globalization" strategy. Sports consumption is transitioning from mass market to professional and scenario-driven, and the multi-brand strategy is a long-term response to changes in consumer structure. The company responds to the diverse demands of global consumers through multiple brands, strengthening brand positioning and building growth models for each brand. From ANTA's main brand to multiple brands, including FILA, which has grown to over RMB 30 billion in revenue in over a decade, DESCENTE, which achieved over RMB 10 billion in revenue in nearly ten years, KOLON SPORT, moving towards a hundred billion scale, and Amer Sports, which achieved high-quality and high-speed growth through ANTA SPORTS before listing, the company continues to promote international cooperation and brand investment, forming a brand matrix covering different sports scenarios and price ranges, providing the group with a more robust growth structure and stronger cycle capabilities. The company believes that "buying well" determines the starting point, "managing well" determines efficiency, and "cooperating well" determines long-term value. The group adheres to a brand-centric governance model, empowering brands to make independent decisions, allowing each brand to maintain uniqueness and creativity. At the same time, ANTA SPORTS' unique "brand + retail" business model is a transferable and replicable global operating management system. From managing global brands to promoting the globalization of ANTA's main brand, the company continues to strengthen three core capabilities: multi-brand collaborative management, multi-brand retail operations, global operations, and resource integration. The group has built a lean and efficient management model that guides healthy growth for each brand in areas such as brand, product, retail, inventory, channels, costs, and cash flow management. This globally validated practice has allowed Chinese models and experiences to evolve into replicable global models. The shared platform set up by the company has formed scale advantages and collaborative efficiencies in the supply chain, digitization, finance, human resources, and risk management in the middle and back-office fields. The combination of "brand vitality" and "platform efficiency" is the core competitive advantage that sets ANTA SPORTS apart from traditional single-brand companies.