ANTA reported full year 2025 results on March 25, 2026, posting record revenue of RMB 80.22 billion (~$11.63 billion), a 13.3% increase year on year, while attributable profit fell 13% to RMB 13.59 billion from RMB 15.60 billion in 2024. The headline profit decline reflects the absence of a one off gain from the Amer Sports IPO that inflated the 2024 baseline; excluding that effect, profit attributable to shareholders rose 13.9% year on year.
Revenue Breakdown
Growth was broad based across all three portfolio segments. The core ANTA brand grew 3.7% to RMB 34.75 billion, FILA grew 6.9% to RMB 28.47 billion despite its large base, and the group’s other brands, including DESCENTE, KOLON SPORT, and SPRANDI, surged 59.2% to RMB 17.00 billion. DESCENTE’s retail sales surpassed RMB 10 billion for the first time, making it the group’s third brand to reach that milestone after ANTA and FILA.
Margins and Cash
Operating profit rose 15% to RMB 19.09 billion, with the operating profit margin widening 0.4 percentage points to 23.8%. Free cash flow reached RMB 16.11 billion, and the group closed 2025 with a net cash position of approximately RMB 31.72 billion.
Ding Shizhong, Executive Director and Board Chairman of ANTA Sports, said, “In 2025, amid a complex and rapidly changing environment, we once again delivered resilient growth by staying true to our ‘Single focus, Multi brand, Globalization’ strategy. The Group’s revenue surpassed RMB80 billion for the first time, reinforcing a competitive advantage built on a multi brand portfolio and strong operational capabilities.”
Market Position and Future Outlook
ANTA’s domestic market share reached a record 21.8% in 2025, cementing its position as China’s largest sportswear group, ahead of Nike and Adidas. The group’s Q1 2026 operational update, published April 13, flagged that revenue is expected to decline in the low single digits for the rest of the current quarter, reflecting a more cautious near term outlook as macro conditions in China remain uncertain.
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