Changes in Hong Kong stocks | Anta Sports (02020) rose more than 3%, PUMA's market sales in Greater China began to recover, and Nomura maintains the company as the first choice for the Chinese sportswear sector

The Zhitong Finance App learned that Anta Sports (02020) rose more than 3%. As of press release, it had risen 2.32% to HK$79.3, with a turnover of HK$549 million.

According to the news, Nomura released a research report stating that it maintains Anta Sports as the preferred stock in China's sportswear sector, indicating that Anta has completed the acquisition of PUMA shares, became its largest shareholder and long-term strategic partner, and maintained Anta's “buy” rating, with a target price of HK$91.4. The bank believes that Anta Sports will benefit from long-term structural growth opportunities, multi-brand strategies, and attractive valuation levels.

Nomura pointed out that PUMA's third-quarter revenue fell 6.3% year-on-year to 1.78 billion euros at a fixed exchange rate, slightly higher than market expectations of 1.76 billion euros; gross margin rose 4.2 percentage points to 49.5% year-on-year, better than market expectations of 48.5%, mainly driven by lower procurement costs, tariff refunds, and improved channel mix. During the period, sales in the core markets Europe, Middle East, Africa and America continued to decline, but sales in the Greater China market began to recover. Revenue increased 3.5% year-on-year, faster than 0.9% in the second quarter, mainly driven by double-digit year-on-year growth in direct-to-consumer (DTC) business.