HK-listed sportswear group Xtep rises on strong FY revenue growth

Xtep International Holdings

22/03/2023 08:02

** Shares of Chinese sportswear group Xtep International
Holdings Ltd  1368.HK  surge as much as 6.6% to HK$8.77, their
highest since March 9; on track for second straight session of
gains 
    ** Fujian-based company says its 2022 revenue jumps 29.1%
year-on-year to 12.93 bln yuan ($1.88 bln yuan), with net profit
up  1.5% to 921.7 mln yuan  
    ** Xtep says it is optimistic about mainland China's
business outlook for 2023 on recent border reopening but remains
cautious on short-term outlook for overseas business in
athleisure segment
    ** Bigger rivals ANTA Sports  2020.HK  gains 2.1% and Li
Ning  2331.HK  rises 2.3%  
    ** Hang Seng Commerce & Industry Index  .HSNC  rises 1.4%
and Hang Seng Consumption Index  .HSCGSI  gains 1.1%
    ** Hang Seng Composite Index  .HSCI  climbs 1.4% and the
Hang Seng Index  .HSI  rises 1.7%
    


($1 = 6.8922 Chinese yuan renminbi)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))