August 17 – Xtep International Holdings (1368.HK) posted a 26-percent increase in sales revenues for the first half of 2011 to 2.57 billion yuan, reports yicai.com, citing a company filing. Operating profits hit 564 million yuan, an increase of 25 percent, and interim dividends were HK$0.13, up 30 percent. All percentage changes cited in this story are year-on-year.

Inventory grew 92 percent to 887 million yuan, while inventory of finished goods hit 474 million yuan, a significant jump from the 84 million yuan recorded same period a year ago.

Accounts receivable totaled 913 million yuan, up 25.6 percent. According to some industry experts, the growth in revenue might be due in part to an increase in accounts receivable. Cash flows generated from operations during the half year were negative 335 million yuan.

Chinese sporting goods companies usually sell their products in the form of futures, with each firm holding order conferences in March and April.

Source:CapitalVue