HK Stock Market Move | ANTA SPORTS (02020) rises nearly 3%; the company becomes Puma's largest shareholder; Citi holds a positive view on integrating Puma's China business.

ANTA SPORTS (02020) rose nearly 3%, up 2.42% as of press time, at HK$74.2, with a turnover of HK$185 million. On the news front, ANTA SPORTS recently announced the completion of its acquisition of a 29.06% stake in Puma for EUR 1.51 billion, becoming its largest shareholder. Citi expects that ANTA SPORTS' management will provide substantive details on the strategic blueprint for Puma's China business in the future during its third-quarter retail sales conference call. The bank holds a positive view on the potential integration of Puma's China retail and distribution business following the completion of the deal. CLSA stated that the completed transaction adds another global brand to ANTA Group's brand portfolio. Currently, Puma's Greater China sales account for only about 7% of its total sales, well below the 17% to 30% range of global sportswear peers, leaving room for improvement. CLSA believes that Puma's third and fourth quarter sales can continue to improve, with gross margin expanding year-on-year in the second half. The bank currently expects ANTA SPORTS' adjusted net profit CAGR from 2026 to 2028 to be approximately 12%.