HK's ANTA Sports falls most in nearly 8 weeks on slower Q3, Nomura cut PT

Topsports International Holdings

19/10/2021 03:05

** Shares of China's home grown sportswear group  2020.HK 
fall as much as 6.4% to HK$118.70, the biggest daily pct decline
since Aug. 25
    ** Stock last down 1.3%, the fifth biggest pct decliner on
both the Hang Seng China Enterprises Index  .HSCE  and the
benchmark index  .HSI  
    ** Co says retail sales value of ANTA branded products for
Q3 2021 recorded low-teens positive growth compared with a year
earlier, and retail sales value of FILA branded products
recorded mid-single digit positive growth in Q3  urn:newsml:reuters.com:*:nFWN2RC01M
    ** Citi says Fila's retail sales growth slowed sharply to
mid-single digit in Q3 from 75%-80% in Q1 and 30%-35% in Q2, and
is below market expectation
    ** Citi says it expects ANTA biz to be under margin pressure
in H2 given operating deleverage and it continue to prefer
Topsports  6110.HK  and Li Ning  2331.HK  to ANTA 
    ** Nomura trims ANTA's PT to HK$194.6 from HK$205.1 while
maintains "buy" on stock, saying it expects Q4 to improve 
    ** Shares of Topsports slip 0.3% and Li Ning falls 1.6%
    ** Hang Seng consumer goods and services index  .HSCGSI 
gains 0.8%
    ** Hang Seng China Enterprises Index  .HSCE  and Hang Seng
Index  .HSI  both rise 1.2%


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