Anta Group 2025 Financial Report: Annual revenue increased by 13.3% to 80.2 billion yuan, Descente's revenue surpasses 10 billion yuan

On March 25, 2026, Anta Sports Products Limited (Stock Code: Hong Kong Counter 2020.HK, RMB Counter 82020.HK, and its subsidiaries collectively referred to as “Anta Group” or “the Group”) announced its full-year 2025 results: the Group achieved a new record high, surpassing market expectations. Revenue increased by 13.3% year-over-year to RMB 80.219 billion, maintaining the top position in China’s industry for four consecutive years, and remaining among the top three globally. The overall growth rate led the industry significantly, with healthy and robust core operating indicators, continuous market share growth, and an enhanced market leadership position. Including Amer Sports, the Group’s total revenue is approximately RMB 127.8 billion.

Chairman Ding Shizhong of Anta Group stated: “The external environment in 2025 was complex and volatile. Under the strategic guidance of ‘Focus, Multi-Brand, Globalization,’ Anta Group has built competitive advantages in ‘Winning with Products and Operations,’ with differentiated brands and resilient growth. Our multi-brand strategy focuses on long-term deployment. ‘Good Buying, Good Management, Strong Operations’ form the foundation for solidifying brand positioning, improving operational quality, and enhancing brand value. The Group’s unique ‘Brand + Retail’ business model, along with its three core competencies in branding, retail, and global resource integration, enables each brand to fully realize its value and potential. Over the past 35 years, Anta has navigated multiple industry fluctuations and consumer cycles. We are confident in strengthening technological innovation, maintaining resilience, health, and vitality, and building on the Chinese market as our foundation to become a global leader—‘Anta of the World.’”

Anta Innovation Leads Steady Growth

The Anta brand adheres to the core strategy of “Mass Market Positioning, Professional Breakthrough, Brand Elevation,” with revenue up 3.7% year-over-year to RMB 34.754 billion, showing steady progress and outperforming the average growth of similar-sized brands. Anta Kids consolidates its position as a “Professional Children’s Sports” brand, leading the industry in market share.

Anta ranked 55th among the most valuable Chinese brands in BrandZ 2025, the only sportswear brand on the list. Strengthening technological innovation, autonomous tech products frequently become bestsellers: PG7 running shoes sold over 4 million pairs annually, and C-series professional running shoes sold over 1.2 million pairs annually. The brand continues to optimize channel layouts, enhancing differentiated formats and retail combinations in mainstream commercial districts. Innovative store formats such as ARENA Anta Arena, Palace Anta Hall, and Anta Lighthouse Stores improve end-user experience and achieve store efficiency breakthroughs. Anta basketball shoes ranked fourth in playing time during the NBA 2024-25 regular season. In November 2025, Anta became one of the top 10 brands in Amazon’s monthly running shoe sales.

At the 2026 Milan Ice and Snow Festival, Anta Group supported 13 Chinese national teams, including 10 sponsored by the Anta brand. Using self-developed core technologies combined with multiple innovative techniques, the Group upgraded professional competition and training equipment, helping Chinese athletes win gold and silver medals and achieve the best overseas competition results.

FILA Outperforms Industry, Strengthening Its Position in the Online Market

During the reporting period, FILA’s revenue grew 6.9% year-over-year to RMB 28.469 billion, outperforming the industry in growth on a large scale, with healthy operational indicators. Maintaining its high-end sports fashion positioning, the brand returned to its core demographic, focusing on female consumers, and emphasized tennis and golf as key sports and fashion trends. The brand’s BEI (Brand Equity Index) reached a new high. FILA launched the “Tennis 360” strategy, becoming the exclusive official sponsor of tennis shoes and apparel for the China Open, continuously building a tennis ecosystem, and increasing investment in golf resources.

Focusing on product innovation and category breakthroughs, FILA expanded its best-selling product matrix driven by IP. The new Heritage series sold out at launch, with a higher sell-through rate than the overall brand; the new VETTA dad shoes drove nearly 10 million pairs sold throughout the year; and the Unbounded Polo category sold 2 million pieces annually. Retail iteration and upgrades include the creation of the new “Yihou Store,” building a new billion-yuan store model, and establishing dedicated IP in children’s amusement parks at Beijing Universal Studios and Shanghai Disney. The golf Master Lingyu brand centers around the Elite 360 lifestyle, transforming retail scenes into immersive experience spaces.

Multi-Brand Powerhouse Achieves New Billion-Yuan Milestones

In 2025, revenue from all other brands of the Group grew 59.2% year-over-year to RMB 16.996 billion, nearly sevenfold since 2020, with only a few new stores added annually, driven by high store efficiency and rapid growth. These multi-brand brands have become new engines of high growth for the Group, laying a foundation for long-term high-quality development.

DESCENTE, a high-end professional sports brand focusing on skiing, golf, and triathlon, achieved dual leadership in high-end “skiing and golf” branding. Increased R&D investment has built a differentiated product system, with annual revenue surpassing RMB 10 billion for the first time. The flagship city landmark store “Future City” opened in Beijing’s CBD; online flagship stores for golf, children’s products, and BLANC entered the Tmall luxury segment, precisely reaching core consumers and achieving high-speed, high-quality efficiency.

KOLONSPORT, a leading outdoor lifestyle brand, experienced rapid growth in revenue, store performance, and same-store sales, becoming the fastest-growing brand within the Group. The brand signed the Chinese national climbing team, significantly enhancing its brand awareness; it improved its full-category layout with footwear and apparel, strengthening its apparel market advantage, and launched professional products such as hiking shoes and cross-country running shoes. Focusing on key cities, it opened flagship experience stores like “KOLON ATLAS” and “KOLON KRAFT.”

MAIA ACTIVE, focused on women’s yoga, is in accelerated incubation, emphasizing brand value and product development. JACK WOLFSKIN has set a five-year global brand revival plan, positioning as a full-scenario professional hiking brand, with matching products and channels to unlock brand value and drive growth.

Multi-Brand Operations and Globalization Take Shape

The Group established an International Business Division to fully promote globalization and overseas expansion. In regional deployment, Anta’s multi-brand presence expanded in Singapore and Southeast Asia, forming an initial “bridgehead” for globalization. In South Asia, partnerships with international retailer Brandman Retail enabled distribution and physical stores in India. The Anta main brand expanded into the Middle East and Africa, covering countries such as the UAE, Saudi Arabia, Qatar, Egypt, and Kenya. In North America and Europe, collaborations with Foot Locker, DSG, JD Sports, and Amazon, along with the opening of the first North American flagship in Beverly Hills, Los Angeles, marked a new milestone for Anta’s international influence. By the 2025 fiscal year, Anta had opened over 460 single-brand stores outside China, with plans to open 1,000 Anta retail outlets in Southeast Asia by 2028.

In 2025, the Group completed the full acquisition of the internationally leading outdoor brand JACK WOLFSKIN and invested with the international fashion group MUSINSA to establish MUSINSA China, supporting its own brands “MUSINSA STANDARD” and multi-brand stores “MusinsaStore” in Shanghai. In 2026, the Group announced the acquisition of a 29.06% stake in PUMA SE, the parent company of the iconic global sports brand PUMA. The Group’s “multi-brand, strong operation” management model has cultivated a replicable and evolvable global multi-brand management paradigm.

Autonomous Innovation and AI Empowerment Drive Breakthroughs

The Group’s annual R&D investment increased from RMB 350 million in 2016 to RMB 2.2 billion in 2025, a more than fivefold increase over ten years. The Group upgraded its global open innovation network, collaborating with 96 universities and research institutes worldwide, resulting in self-developed products like “Fur-Free Anta Membrane” and “Six Degrees Core Insulation Technology,” with international competitiveness.

The Group launched the “AI365 Strategy,” focusing on “Quality Improvement, Experience Enhancement, and Growth Driving,” and introduced China’s first dedicated AI design large model, “Linglong Design Model,” significantly improving product design efficiency and shortening design cycles. AI is deeply applied across six major fields: marketing, design, products, supply chain, retail, and operations. Over the next three years, AI utilization is expected to exceed 50%, generating over RMB 5 billion in value.

Deepening Global Symbiosis and Achieving Multi-Dimensional Breakthroughs

This year, Anta Group continued to expand its influence in creating shared value.

In employee relations: the Group employs approximately 69,100 staff, has recruited over 1,000 university graduates, and created nearly 300,000 jobs across the supply chain. In 2025, it invested over RMB 480 million to enhance employee benefits and training. It was awarded the “Best Workplaces™” in Greater China by Great Place To Work™ in 2025, the first Chinese industry company to receive this honor; for the fifth consecutive year, it was named a Forbes Global Best Employer.

In environmental sustainability: the Group was included in the Hang Seng ESG 50 Index for the first time, ranking among the top 50 Hong Kong-listed companies in ESG performance. Its MSCI ESG rating has improved four levels over three years to AA, gaining high recognition from international capital markets. It received a Grade A rating for climate change performance from the CDP and was listed on the A List, with only 2% of companies worldwide achieving this honor.

In social responsibility: Anta Group’s philanthropy and Hemei Foundation established a “Five-in-One” dual philanthropy platform. By the end of 2025, total donations exceeded RMB 3.5 billion. The “Anta Youth Sports Development Program” has donated RMB 1.4 billion, benefiting nearly 10 million youth in underdeveloped areas. The Hemei Foundation released its first charity report since inception, with total donations exceeding RMB 1.2 billion.