ANTA Shares Plunge Over 4% Amid Arc’teryx Himalayas Fireworks Controversy

On September 22, ANTA Sports (02020.HK) opened down 4.60%, trading at HKD 92.35 and wiping HKD 12.5 billion off its market capitalization. The steep decline came in the wake of a highly publicized fireworks display staged by Arc’teryx, a brand owned by Amer Sports in which ANTA is a major investor, and acclaimed artist Cai Guoqiang in the Himalayas.

On September 19, Arc’teryx and Cai Guoqiang jointly launched the “Soaring Dragon” fireworks show high above the Tibetan plateau. Videos of the event quickly spread online and provoked sharp criticism from environmental advocates and netizens who argued the spectacle showed disregard for the fragile Himalayan ecosystem.

By the early hours of September 21, the “Cloud Everest” WeChat account in Tibet reported that the Shigatse Municipal Party Committee and government had taken the matter seriously, dispatching an investigative team to the site to verify conditions. Authorities pledged to handle any violations in strict accordance with applicable regulations.

Later that morning, Arc’teryx issued an apology on its official Weibo account, expressing regret for public concern and promising full cooperation with government oversight. The company committed to working with the artist’s team and independent environmental specialists to reassess the project’s ecological impact and to carry out any necessary remedial measures. It also announced plans to accelerate broader environmental protection and cultural initiatives in the Tibetan region.

Cai Guoqiang’s studio followed with a statement on its WeChat platform, acknowledging public criticism and pledging proactive collaboration with third-party agencies and relevant authorities. The studio affirmed its intention to remedy any confirmed environmental damage and to support ecological conservation and cultural tourism in Jiangzi County. Future artistic projects, the statement concluded, will undergo more rigorous environmental impact assessments.

The Arc’teryx fireworks incident and the ensuing governmental inquiry have directly impacted investor sentiment toward ANTA Sports, highlighting the reputational and financial risks tied to high-profile brand initiatives.