Q4 2025 ANTA Sports Products Ltd Corporate Sales Call Transcript
(technical difficulty) and Wei, our Vice President, and then the agenda today will be short and neat. We will first talk about -- Wei will first talk about the highlights for each of the brands in Q4, and then we will go to the Q&A sections. Yeah. So Wei, thank you.
Okay. Hello, everyone. Again, good morning, good afternoon, good evening, depending on wherever you're joining us from. Before we begin, on behalf of the managing team and our colleagues across the Group, I want to extend a belated New Year's greeting and wish everyone a happy, healthy, and prosperous 2026.
I do want to begin with the macro and consumer environment in China. On this slide, looking at the overall consumption data in China from Jan to December '25, the total retail sales of consumer goods grew by approximately 3.7%. This is slightly better than the same period 2024.
However, when we zoom in further to a quarterly and monthly perspective, it becomes clear that consumer momentum has
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