HK Stock Market Move | TOPSPORTS(06110) rebounds by nearly 10% recently. TOPSPORTS has recently urgently clarified the rumors of Nike terminating online authorization.

TOPSPORTS (06110) rebounded by nearly 10%, rising 7.47% to HK$1.87 as of the time of writing, with a turnover of HK$25.0728 million. On the news front, TOPSPORTS recently announced that the company has not received any formal notice from Nike regarding the termination of its online distribution arrangement in Mainland China. It emphasized that Nike and the company have been discussing various aspects of their business cooperation, including the status of their online sales arrangement. Earlier, there were market rumors that Nike intended to terminate all its online first-tier distribution authorizations in Mainland China from January 1, 2027. It is worth noting that for the fiscal year ended February 28, 2026, revenue from online sales of Nike products accounted for approximately 22% of TOPSPORTS' total revenue. In addition, TOPSPORTS has been continuously implementing a strategy of "store closure and streamlining" in recent years. Analysts pointed out that if the online authorization is revoked, the company will not only lose the 22% of revenue from Nike's online sales, but also the effectiveness of its strategy of "offsetting offline with online" will be lost.