Changes in Hong Kong stocks | Anta Sports (02020) rose nearly 4%, with steady second-quarter turnover growth, Citi says its valuation is attractive

The Zhitong Finance App learned that Anta Sports (02020) rose nearly 4%. As of press release, it had risen 3.78% to HK$76.95, with a turnover of HK$427 million.

According to the news, Anta released business data announcements for the second quarter and the first half of the year. Anta's main brand turnover for the second quarter and the first half of the year respectively achieved growth in low and medium orders, showing strong resilience. In addition, the company's other brands, mainly Descente and Colon, performed well, with year-on-year increases of 25%-30% and 35%-40% in the second quarter and the first half of the year, respectively.

Citi believes that Anta's retail sales data for the second quarter is in line with expectations. Maintaining Anta's “Buy” rating, the target price is HK$108.8, corresponding to the projected price-earnings ratio of 20 times in 2026. Taking into account the slowdown in growth in the mainland sporting goods industry, Anta is still listed as the preferred stock for the Chinese sporting goods industry, and its valuation is attractive.