ANTA SPORTS (2020 HK) Shows the resilience of the leader under the epidemic September 10, 2020 74

PSR Recommendation: BUY Status: Initiation
Target Price: HKDHKD94.90

Investment Summary
Anta Sports, a leading domestic brand sportswear company, was established in 1991 in Jinjiang, Fujian. Its main business involves the design, development, manufacturing and marketing of sportswear. At the beginning of its establishment, the company was mainly a shoe OEM factory. Since 1999, it has changed from manufacturing to brand wholesale, launching its own clothing and sports accessories products. In FY19, the company’s annual revenue reached RMB 33.9 billion, and grew at a CAGR of 18% over the past ten years, leading the industry in the industry. In the same year, it was also ranked 21st in Brand Finance’s “2019 World’s Most Valuable Apparel Brands” ranking and was selected as the “BrandZ™ 2019 Top 100 Most Valuable Chinese Brands” released by WPP and Kantar China, becoming the only one selected in the sporting goods industry. The brand ranks first in the “Apparel” category.
In 2016, the company put forward the strategic policy of ‘Single-Focus, Multi-Brand and Omni-Channel’, taking sports as the company’s development focus, expanding the company’s brand matrix, and comprehensively deploying street shops, shopping malls, department stores, and Outlet and e-commerce platforms. Through the synergy between multi-brand strategies, Anta can cover different needs in all aspects, from mass to high-end, from fashion to sports, from children to adults.

About the author

Profile photo of Timothy Chong

Timothy Chong
Analyst
Research

Timothy Chong received Bachelor’s Degree with first class honor in Banking and Finance from University of Leicester. He is currently studying Master of investment management in Hong Kong Polytechnic University. Before joining Phillip Securities, Timothy worked at BOCOM international and he is equipped with years of experience in the capital market. Timothy is now a licensed research analyst at Phillip Securities and covers Consumer / Property Management sectors.

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