[ET Net News Agency, 26 August 2020] Daiwa Research raised its target price for Anta
Sports Products (02020) to HK$100 from HK$78 and maintained its "buy" rating.
The research house said Anta's 1H net profit of CNY1.66bn (-28.6%) was well within its
guidance. Management plans to revamp Anta's business via the direct-to-consumer (DTC)
channel in certain regions in China, a move which Daiwa believes will help accelerate the
company's digitalisation and O2O integration, and enhance its operational efficiency in
the long run.
In 2020, management expects the revenue to fall by CNY1bn and operating profit by
CNY200-300m, while in 2021, it expects to see a CNY2-3bn lift in revenue, improvement in
GPM and operating profit accretion. Daiwa cut its 2020 EPS forecast by 8% mainly on higher
JV losses, but raised its 2021-22 EPS estimates by 1-2% to factor in the DTC impact. (KL)
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02020 ANTA SPORTS
Nominal 
82.700 -2.250 (-2.649%) Research Report
26/08/2020 10:38
{I-bank focus}Daiwa raises Anta Sports (02020) to HK$100
| Remark: | Real time quote last updated: 19/04/2024 11:08 |
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