BUZZ-HK-listed ANTA Sports jumps on strong growth in retail sales value

Reuters2021-07-09

** Shares of China's home grown sportswear maker ANTA Sports Products Ltd jump 7.7% to HK$186.90, the highest since June 30

** Stock on course for the best day since March 25; the fourth biggest percentage gainer in the Hang Seng Composite Index and among the 30 most actively traded by turnover

** Fujian-based company says retail sales value of ANTA branded products for Q2 grew 35-40% as compared to the same period in 2020, FILA branded products rose 30-35% and all other branded products jumped 70-75%

** Says retail sales value of ANTA branded products for H1 grew 35-40% as compared to a year ago period, FILA branded products surged 50-55%, and all other branded products soared 90-95%

** CMB International maintains "buy" on the stock and lifts TP to HK$212.74 from HK$198.84, saying it is impressed by ANTA's fastest ever new 5-year target

** As of last close, ANTA shares had surged 41.2% this year

** Smaller rivals Li Ning climbs as much as 3.8%, Xtep International rises 4.3% to record high at HK$16.32, and 361 Degrees gains 2.4%

** Both the Hang Seng Composite Index and China Enterprises Index gain 0.3% and the benchmark index

rises 0.5%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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