Bank of China International: Anta Sports (02020)'s mid-term performance is resilient and maintains a “buy” rating

The Zhitong Finance App learned that Bank of China International released a research report saying that retail sales in the second quarter of Anta Sports (02020) were still resilient under weak offline traffic, bad weather and fierce competition in the industry. Among them, the Anta brand and FILA both recorded low unit numbers of year-on-year increases, while other brands grew 25% to 30%, outperforming their peers. The bank believes this reflects Anta's healthy inventory, stable retail discounts, and continued market share support for high-end brands.

The bank also indicated that Anta Brand CEO Xu Yang resigned due to personal and family reasons and was represented by Group Co-CEO Lai Shixian. Management said it was a normal organizational adjustment. Referring to the FILA brand's growth acceleration after the CEO change in 2025, BOCI expects the change of direction to have limited impact on the business, maintaining Anta Sports's “buy” rating and target price of HK$89.2.