Topsports International Holdings Ltd

06110: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Topsports: Weak Demand, Slower Recovery Drive 8% Valuation Cut; Nike Risk Looms

Ivan Su , Junhao Yang

Jun 26, 2026

Topsports' fiscal first quarter (ended May) sales fell by the low teens year over year, reflecting weak demand and deeper discounting. Shares were briefly halted on market talk that Nike may cancel distributors’ online sales rights in China from 2027, with trading set to resume on June 26.

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Topsports International Holdings Ltd

Topsports: Weak Demand, Slower Recovery Drive 8% Valuation Cut; Nike Risk Looms

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