Anta Sports Reports 2026 H1 Revenue Up 12.9%, Net Profit Surges 34.9%
Anta Sports reported 2026 first-half revenue of 435.1 billion RMB, up 12.9% year-on-year, and net profit attributable to shareholders of 94.9 billion RMB, up 34.9%. Adjusted net profit, excluding a one-time gain from the Amer Sports placement, rose 13% to 79.4 billion RMB, slightly exceeding market expectations. Huayuan Securities maintained a Buy rating, while CLSA named Anta a top pick with an Outperform rating and HK$110 target, citing multi-brand growth and strategic expansion including a 29% stake in Puma.
IllustrationEditorial responsibility
- No named human review is recorded for this page.
- Reports are grouped by semantic similarity and deterministic rules. Language models may assist titles, summaries, translation and cross-source analysis; the page reads the event directly, while its address stays stable when the title changes.
- Summary covers the current reports
Cross-source coverage
Reporting timeline
Huayuan Securities Maintains Buy Rating on Anta Sports, Citing Multi-Brand Quality Growth
Huayuan Securities released a research report maintaining a 'Buy' rating on Anta Sports (02020.HK) after its 2026 H1 earnings. The report highlights that Anta's revenue reached 435.1 billion RMB, up 12.9% year-on-year, while net profit attributable to shareholders was 94.9 billion RMB, up 34.9%. Excluding a one-time gain from the Amer Sports placement, adjusted net profit was 79.4 billion RMB, up 13%, slightly exceeding market expectations. Operating cash flow grew 20%, free cash flow surged 54%, and inventory turnover days improved by 6 days, validating multi-brand quality growth. The core Anta brand and FILA maintained stable fundamentals, with FILA's store efficiency rising 11% despite a 4% store count reduction. Outdoor brands Descente and Kolon Sport maintained high retail discounts and monthly store efficiency above 300 million and 280 million RMB respectively. The report also notes Anta's acquisition of a 29% stake in Puma SE, becoming its largest shareholder, to expand its global footprint. Huayuan Securities forecasts 2026-2028 net profits of 144/158/180 billion RMB, with current PE ratios of 12/11/10 times. Risks include weaker-than-expected terminal demand, lower-than-expected FILA profits, and lower-than-expected Puma equity acquisition outcomes.
Read sourceHuayuan Securities Maintains Buy Rating on Anta Sports, Citing Multi-Brand Quality Growth
Huayuan Securities released a research report maintaining a 'Buy' rating on Anta Sports (02020.HK) after the company published its 2026 first-half results. For the period, Anta reported revenue of 435.1 billion RMB, up 12.9% year-on-year, and net profit attributable to shareholders of 94.9 billion RMB, up 34.9% year-on-year. Excluding a one-time gain from the Amer Sports placement, adjusted net profit was 79.4 billion RMB, up 13% and slightly above market expectations. Operating cash flow rose 20% year-on-year, free cash flow increased 54%, and inventory turnover days improved by six days. The report highlighted solid performance from the Anta and FILA core brands, with FILA's store efficiency rising 11% despite a 4% reduction in store count. Outdoor brands Descente and Kolon maintained high retail discounts and monthly store efficiency above 300 million and 280 million RMB respectively. Huayuan also noted the accelerating contribution from Amer Sports and Anta's acquisition of a 29% stake in Puma SE. The brokerage forecasts net profit of 144, 158, and 180 billion RMB for 2026-2028, with PE ratios of 12, 11, and 10 times respectively. Risks include weaker-than-expected terminal demand, lower-than-expected FILA profit, and underperformance of the Puma equity acquisition.
Huayuan Securities Maintains Buy Rating on Anta Sports, Citing Multi-Brand Quality Growth
Huayuan Securities released a research report maintaining a 'Buy' rating on Anta Sports (02020) after the company published its 2026 H1 financial results. The report highlights that Anta's revenue reached 435.1 billion RMB, a 12.9% year-on-year increase, while net profit attributable to shareholders rose 34.9% to 94.9 billion RMB. Excluding a one-time gain from the Amer Sports placement, net profit was 79.4 billion RMB, up 13% and slightly exceeding market expectations. The analyst notes improvements in operating cash flow, free cash flow, and inventory turnover days, validating the company's multi-brand quality growth strategy. The report details strong performance from the Anta and FILA brands, with FILA showing improved operating margins despite store closures. Outdoor brands Descente and Kolon maintained high retail discounts and store efficiency. Additionally, the report mentions the accelerating benefits from Amer Sports and Anta's acquisition of a 29% stake in Puma. Huayuan Securities forecasts net profits of 144, 158, and 180 billion RMB for 2026-2028, with corresponding P/E ratios of 12, 11, and 10 times. Risks cited include weaker-than-expected terminal demand, lower-than-expected FILA profits, and underperformance of the Puma equity acquisition.
Read sourceShow 2 older updatesHide older updates
CLSA Names Anta Sports a Top Pick, Maintains Outperform Rating and HK$110 Target
CLSA (里昂) has released a research report maintaining an 'Outperform' rating on Anta Sports (02020.HK) with a target price of HK$110, naming the stock as one of its top picks. The brokerage cites Anta's global布局, strong execution capabilities, and robust balance sheet as key reasons for its positive outlook. CLSA forecasts that Anta will benefit from improved store productivity, outperformance of its outdoor brands, a potential turnaround of Jack Wolfskin's China business next year, and higher net profit from Amer Sports. The firm estimates Anta's revenue and adjusted net profit compound annual growth rates (CAGR) will be 7% and 12% respectively for fiscal years 2026 to 2028. CLSA notes that Anta's 29% stake in PUMA and ownership of Jack Wolfskin expand its addressable market in professional sports and mass outdoor segments. While third-quarter demand slowed compared to the first half, with July affected by extreme weather, sales improved in August and September. The Golden Week holiday and Singles' Day (Double 11) are seen as critical for Anta to meet its fiscal 2026 guidance. The report also notes that while international peers are increasing online discounts to clear inventory, Anta is strictly controlling its own discounts, and CLSA expects the competitive environment to normalize by 2027.
CLSA Names Anta Sports a Top Pick, Maintains Outperform Rating and HKD 110 Target
CLSA (via Zhitong Finance) released a research report maintaining an 'outperform' rating on Anta Sports (02020) with a target price of HKD 110, naming it a top pick. The firm cites Anta's global布局, strong execution, and solid balance sheet. CLSA forecasts a 7% revenue CAGR and 12% adjusted net profit CAGR for fiscal years 2026-2028, driven by improved store productivity, outperformance of outdoor brands, a potential turnaround of Jack Wolfskin's China business next year, and higher net profit from Amer Sports. The report notes that holdings in PUMA (29% equity) and Jack Wolfskin expand Anta's addressable market in professional sports and mass outdoor segments. While Q3 demand slowed versus H1 due to extreme weather in July, sales improved in August and September. Golden Week and Singles' Day are seen as key to meeting the FY2026 guidance. CLSA adds that Anta is strictly controlling discounts despite increased online discounting from international peers, and expects market competition to normalize by 2027.