China Sports International, the sports fashion footwear and apparel company based in China, today reported net profit for the first quarter ended 31 March 2010 (1Q10) declined 47.6% to RMB26 million ($5.3 million) from RMB49.7 million in 1Q09.

Group revenue declined 28.9% to RMB377.2 million from RMB530.4 million. The decrease in revenue was mainly attributable to the increasing competition of footwear products, leading to weaker demand and the lowering of average selling price (ASP) for footwear products by distributors to maintain competitiveness.

Footwear remained the main contributor to group revenue, accounting 79.6% in 1Q10 compared to 78.4% in 1Q09. Apparel accounted for 19.3%, down from 20.7%. Accessories’ contribution remained stable at around 1.1%.

Additionally, the delay in partial shipment of YELI apparel and accessories from 1Q10 to 2Q10 also impacted group revenue.