ANTA

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Dolphin Research

Anta Sports: Controlling Discounts, Clearing Inventory, Can the 'Slimming Plan' Succeed?

On the afternoon of August 27th, Beijing time, Anta (2020.HK) released its performance for the first half of 2025. Since the company had previously provided the sales data, there was not much deviation from expectations. However, the core point of market concern lies in the company's downward revision of the full-year guidance for its main brand and the declining profit margin.

ANTA
安踏财务数据概览 单位:亿元,人民币 1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23 1H24 2H24 1H25 市场预期 G
450 单位:亿元 400 350 300 ONGBRIDGE.l 250 DolphinResearch 安踏半年度营业收入及增速 橋海豚投研 200 150
450 单位:亿元 400 350 安踏分品牌营业收入及增速 橋海豚投研 300 NGBRIDGE 250 DolphinResea 200 安踏 150 10+13
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Dolphin Research

Anta Sports: Revenue is sprinting ahead while profits are tripping over their laces

On the afternoon of March 19, Beijing time, Anta (2020.HK) released its full-year performance for 2024. Since Anta had already announced its operational performance for Q3 and Q4 of 2024 in January this year and October last year, the market's expectations for total revenue are relatively accurate. However, the core concern that has raised market worries is the decline in Anta's profitability

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