China's ANTA Sports jumps most in over 5 months on upbeat earnings forecast

Xtep International Holdings

20/01/2022 04:13

** Shares of homegrown Chinese sportswear group ANTA Sports
Products Ltd  2020.HK  jump 6.7% to HK$120.3, their biggest
daily pct gain since July 28
    ** Stock hit the highest since Dec. 31; third-biggest gainer
in Hang Seng Commerce & Industry Index  .HSNC  and fifth biggest
in the benchmark Hang Seng Index  .HSI 
    ** Co expects its 2021 profit to rise not less than 45%
year-on-year after taking into account the share of loss of a
joint venture with overall revenue to jump not less than 35% as
sales rebound as impact of pandemic on China's retail alleviated
 urn:newsml:reuters.com:*:nFWN2TZ0MQ
    ** CMB International maintains "buy" rating on ANTA, but
trims TP to HK$132.66 from HK$156.06 on concern over margins 
with brand momentum seen taking a while to pick up, dragging
short-term margins 
    ** Stock of smaller rivals Li Ning Co Ltd  2331.HK  jumps as
much as 6.4% in its best day since Nov. 3, while Xtep
International  1368.HK  surges 4% 
    ** The Hang Seng Commerce & Industry Index  .HSNC  soars 
3.2% and the Hang Seng consumer goods and services index
 .HSCGSI  rises 1.6%
    ** The Hang Seng China Enterprises Index  .HSCE  jumps 2.8%
and the benchmark index  .HSI  surges 2.3%


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