(Yicai Global) Dec. 2 -- The share price of China's Anli Material Technology rose this morning after the synthetic leather maker said that it will become a top supplier to French sporting goods retailer Decathlon.
Anli's [SHE: 300218] stock price rose 3.3 percent to CNY7.24 (US1) by noon. The ChiNext Index, on which the firm is listed, edged up 0.7 percent.
Decathlon has chosen Anli as its tier-one supplier after meeting the requirements of social responsibility and quality assurance, the Anhui province-based company said in a statement on Nov. 29. The parties will still need to sign a supplier contract, it added.
The deal will have a positive effect on Anli's development in the global sports and leisure wear market, it added.
Founded in 1994, Anli has an annual production capacity of 70,000 tons of polyurethane resin and 88.5 million square meters of functional PU leather, its website shows.
Villeneuve-d'Ascq-headquartered Decathlon has many retail centers in China and its Asian headquarters is in Shanghai.
Editor: Emmi Laine