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ANTA Sports Products Ltd 02020

Rating as of

Morningstar’s Analysis

Valuation
Currency in HKD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Stewardship

PREMIUM

Anta Continues Post-Pandemic Rebound, but Recent Share Price Rally Leaves Limited Upside

Ivan Su Equity Analyst

Analyst Note

| Ivan Su |

Narrow-moat Anta announced solid third-quarter retail sales numbers led by fast-expanding Descente. Overall, the group recorded an estimated 16% increase in third-quarter sales, marking an acceleration from the 7% rate booked in the previous quarter. While we are glad to see a continuation of the post-coronavirus recovery, the group's 16% retail sales growth still trails the pre-COVID-19 level of 30%. Anta's stocks are now trading in 3-star territory; we see limited upside in its share price.

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Company Profile

Business Description

Anta Sports is the largest Chinese sportswear company, engaging in the design, manufacturing, and marketing of sportswear. Brands under Anta’s management include the Anta core brand, Fila, Descente, Sprandi, Kolon, and KingKow. As of the end of June 2019, the company had 12,479 stores, of which 10,223 were Anta stores and 1,788 were Fila stores.

Contact
Anta Headquarters Building, Dongshan Industrial Zone, Chidian Town
Jinjiang, 362212, Cayman Islands
T +86 59585929999
Sector Consumer Cyclical
Industry Leisure
Most Recent Earnings
Fiscal Year End Dec 31, 2020
Stock Type
Employees 30,800