(Yicai Global) Aug. 13 -- Shares of Chinese sporting goods giant Li Ning climbed after the firm reported a nearly tripled profit in the first half amid the increasing popularity of domestic fashion brands.

Li Ning [HKG: 2331] opened 4.1 percent higher at HKD90 (USD11.60) and was 1.1 percent up in the afternoon. The stock price has grown more than 60 percent this year.

The maker of clothing and apparel boosted its net profit by almost 200 percent to nearly CNY2 billion (USD302.6 million) in the six months from a year ago amid Chinese consumers' strong support for domestic brands, the Beijing-based company said in its earnings report today.

Revenue jumped 65 percent to almost CNY10.2 billion (USD1.6 billion) as consumers increasingly pursue healthy lifestyles and the Chinese government has been effective in controlling the Covid-19 pandemic, the firm added.

Li Ning's main business was clothing as such revenue climbed 72 percent to make up almost half of the total. Footwear accounted for 45 percent of all revenue.

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Li Ning's rivals Xtep International Holdings and Anta Sports Products have also been doing well. Quanzhou-based Xtep expects its net profit to have risen by no less than 65 percent in the first half from a year earlier, it said last month.

Meanwhile, retail sales of Anta's own brand climbed as much as 40 percent in the first half from the same period a year ago. Sales of Fila brand, which Fujian province-based Anta sells in China, surged from 50 percent to 55 percent, it added.

Founded in 1990 by famous gymnast Li Ning, the eponymous company had nearly 6,000 sales points in China as of June 2020. The firm also sells its products in Southeast Asia, India, Japan, North America, and Europe.

Editor: Emmi Laine, Xiao Yi