(Yicai) March 26 -- Shares of Anta Sports Products rose after the Chinese sportswear giant said its net profit surged 35 percent last year from the previous one.

Anta [HKG: 2020] closed 3.2 percent up at HKD83.55 (USD10.68) in Hong Kong today.

Net profit was CNY10.2 billion (USD1.4 billion) in the 12 months ended Dec. 31, compared with CNY7.6 billion (USD1.1 billion) the year before, the Jinjiang-based company announced today. Revenue rose 16 percent to a new record-high of CNY62.4 billion.

Anta’s operating profit margin and gross profit margin widened 3.7 percentage points and 2.4 percentage points to 24.6 percent and 62.6 percent, respectively, in the period, with the latter achieving a five-year high.

Revenue from the Anta brand jumped 9.3 percent to CNY30.3 billion last year from 2022, while that from Fila soared 17 percent to CNY25.1 billion. Revenue from other brands surged 58 percent to nearly CNY7 billion.

Anta’s net cash flow from operating activities rose 62 percent to CNY19.6 billion, and its free cash flow increased 71 percent to CNY17.8 billion in the period. The company’s average weekly inventory decreased by 15 days to 123 days.

Editor: Futura Costaglione