Sportswear group 361 Degrees at over 1-1/2-year peak on upbeat H1 outlook

361 Degrees International

01/08/2023 04:38

** Shares of China home grown sportswear group 361 Degrees
International Ltd  1361.HK  rise as much as 8.6% to HK$4.53,
their highest since January 2022, and on course for sixth
consecutive session of gain
    ** Fujian-based company expects its H1 net profit to
increase by not less than 25% YoY amid steady increase of
revenue on market recovery in China, launch of more new
products, strengthening credit management on distributors and
government grants received 
    ** Hang Seng Commerce & Industry Index  .HSNC  climbs 0.4%,
Hang Seng Consumption Index  .HSCGSI  rises 0.5% and Hang Seng
Index  .HSI  adds 0.2%
    ** Bigger rivals ANTA Sports  2020.HK  and Li Ning Co Ltd
 2331.HK  fall 1.3% and 1.1% respectively
    ** As of last close, the stock had surged 28.8% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))