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<Research>Nomura Reiterates Buy on ANTA SPORTS w/ TP Raised to HKD125; Full-Yr Results Slightly Beat
Recommend 3 Positive 6 Negative 0 |
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According to a Nomura research report, ANTA SPORTS (02020.HK) slightly exceeded expectations for its 2025 results, with revenue growing by 13% YoY to RMB80.2 billion, surpassing both the market's and the broker's expectations. ANTA SPORTS' adjusted net profit (excluding profit share from joint venture Amer Sports and equity financing gains) was RMB12.4 billion, a YoY increase of 6%, also slightly above Nomura's expectations. By brand, revenues for ANTA, FILA, and other brands rose by 3.7%, 6.9%, and 59.2% YoY, respectively. FILA's operating profit margin improved by 0.8 ppts YoY, offsetting the 0.3 ppt decline in ANTA brand's operating profit margin due to investment in high-performance products and increased online channel revenue proportion. Nomura has kept a Buy rating for ANTA SPORTS and raised the target price from HKD116.3 to HKD125. AAStocks Financial News |
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