Goldman Sachs: Anta Sports (02020) maintains a “buy” rating as expected in the second quarter

The Zhitong Finance App learned that Goldman Sachs released a research report saying that the retail performance of Anta Sports (02020) in the second quarter was healthy, in line with Goldman Sachs's previous management communication results, and also in line with market expectations. The retail sales of the Anta brand and FILA recorded low unit growth in the second quarter respectively during the period. Other brands grew 25% to 30%. The growth rate was slower than in the first quarter, mainly affected by factors such as the Lunar New Year schedule, the extension of the 618 promotion period, and unfavorable weather. However, Goldman Sachs pointed out that Anta's performance continued to outperform its peers. It raised its 2026-2028 revenue forecast by up to 1.5%, raised its profit forecast by up to 1%, and kept the target price unchanged at HK$108. It reiterated its “buy” rating, and was optimistic about the Group's ability to operate multiple brands and cross the cycle.