Anta profits surge on strong sales

Fujian-based sportswear giant Anta Sports Product Ltd posted its best-ever annual sales performance on Wednesday, after its initial public offering in Hong Kong in 2007.

The Hong Kong-listed sportswear manufacturer saw sales hit 8.9 billion yuan ($1.42 billion) in 2014, a 22.5 percent increase from the levels seen in 2013. Gross profit exceeded 4 billion yuan, with a 32.5 percent year-on-year growth.

The company also announced a dividend payout ratio of 71 percent of the profit attributed to equity shareholders for the year, thanks to its strong cash flows.