HK Stock Market Move | ANTA SPORTS (02020) rose nearly 4% with steady revenue growth in the second quarter. Citigroup considers its valuation attractive.

ANTA SPORTS(02020) has risen by nearly 4%, reaching 3.78% at the time of publication, trading at 76.95 Hong Kong dollars, with a turnover of 427 million Hong Kong dollars. On the news front, ANTA released its operating data for the second quarter and first half of the year, with its main brand achieving low to mid-single-digit growth in revenue in the second quarter and first half of the year, demonstrating strong resilience. In addition, the company's other brands, such as Descente and KOLON, performed well in terms of revenue, with year-on-year growth of 25%-30% in the second quarter and 35%-40% in the first half of the year. Citi believes that ANTA's second-quarter retail sales data are in line with expectations. It maintains a "buy" rating on ANTA with a target price of 108.8 Hong Kong dollars, corresponding to a forward price-to-earnings ratio of 20 times in 2026, taking into account the slowdown in the growth of the mainland sporting goods industry. It still considers ANTA a top pick in the Chinese sporting goods industry and believes that its valuation is attractive.