ANTA Sports Products Limited
ANPDY · OTC
Company research
ANTA Sports Products Limited (OTCMKTS: ANPDY) is a leading Chinese multinational sportswear corporation founded in 1991 and headquartered in Jinjiang, Fujian Province, China, that ranks as the world's third-largest sportswear company by revenue, behind only Nike and Adidas. The company is principally engaged in the research, design, development, manufacturing, marketing, and sales of professional sports footwear, apparel, and accessories, operating across a diversified portfolio of brands including ANTA, FILA, DESCENTE, KOLON SPORT, JACK WOLFSKIN, and MAIA ACTIVE, catering to both mass-market and premium consumer segments. ANTA Sports also serves as the largest shareholder of Amer Sports, Inc., a globally recognized group of iconic outdoor and sports brands — including Arc'teryx, Salomon, Wilson, Peak Performance, and Atomic — listed on the New York Stock Exchange (NYSE: AS). With over 69,000 full-time employees, an extensive retail network spanning thousands of outlets across China and internationally, and a market capitalization of approximately $26.4 billion USD, ANTA Sports operates as a subsidiary of Anta International Group Holdings Limited and is publicly traded on the Hong Kong Stock Exchange as a constituent of the Hang Seng Index.
Research reports
This results review reports 1H25 revenue and adjusted net profit up roughly 14% year‑on‑year, driven by strong growth in Descente and Kolon, and maintains a BUY rating while raising the target price from HK$110 to HK$115, implying around 17–23% upside depending on price reference. The report highlights deepening online discounting, changing channel mix, and execution risk around Anta and FILA store formats as key risks, but views outdoor segment momentum, disciplined operating costs, and stable margins as supportive of continued earnings growth and shareholder returns.
CMB International Global Markets (CMBIGM) · July 16, 2025Anta Sports (2020 HK) – Anta brand’s miss offset by other brands’ beatThis company update reviews slightly weaker‑than‑expected 2Q25 retail sales at the core Anta brand, offset by very strong growth at outdoor labels such as Descente and Kolon, and maintains a BUY rating while trimming FY25–27 net profit forecasts by about 3–5% and cutting the target price to HK$111.54, implying roughly 24% upside from the report date. It flags deepening discounts and gross‑margin pressure, plus near‑term disruption from e‑commerce and store reforms as key risks, but argues that operational improvements, tight control of A&P and staff costs, and the group’s competitive advantages support a positive medium‑term earnings outlook and justify the valuation.