CITIC Lyon: Gives XTEP INT'L a "Outperform" rating with a target price of HKD 6.3

CITIC Lyon published a report stating that XTEP INT'L's fiscal year 2025 performance guidance remains unchanged. The firm expects that the store upgrades for both brands will continue, the channel diversification of XTEP's core brand will be further promoted, and the product categories of Saucony will continue to expand, all of which will drive sales growth. The firm has given the stock an "outperform" rating with a target price of HKD 6.3. The report noted that XTEP's stock price fell 3.5% on October 17 after the update in the third quarter of 2025, with sales trends for the core brand and Saucony remaining stable compared to the previous quarter. Although comparable sales have declined, XTEP's core brand retail sales remained flat compared to the second quarter. Online sales grew by double digits year-on-year, still outperforming offline sales