HK Stock Market Move | TOPSPORTS (06110) falls more than 4% again, with the company pointing to increased fluctuations in terminal demand since December. The full-year financial guidance is conservative.

TOPSPORTS (06110) fell by over 4%, dropping by 4.32% as of the time of publication, to 2.88 Hong Kong dollars, with a transaction amount of 17.4752 million Hong Kong dollars. In terms of news, TOPSPORTS had previously announced that in the third quarter of the 2025/26 fiscal year, the total sales amount of the retail and wholesale business of the group had decreased by a high single-digit percentage year-on-year. As of November 30, 2025, the gross sales area of directly-operated stores decreased by 1.3% compared to the end of the previous quarter, and decreased by 13.4% compared to the same period last year. Cinda stated that the total sales amount of the company's retail and wholesale business in the third quarter decreased by a high single-digit percentage year-on-year, which is consistent with the previous performance guidance trend. In terms of channel and operational performance, the retail business continued to outperform the wholesale business, with discount and inventory situations under control, reflecting the company's strong retail management capabilities. In terms of financial guidance, the company pointed out that since entering December, there has been an increase in fluctuation in end-demand, significantly increasing operational pressure, and the previously set goal of "flat net profit year-on-year" is expected to show a deviation within a manageable range. In the future, the company maintains a "short-term cautious, long-term optimistic" attitude.