Group 1 - Anta Sports (02020.HK) experienced a decline of 4.60%, closing at HKD 92.35 per share, resulting in a market capitalization loss of HKD 12.5 billion [1] - The outdoor brand Arc'teryx, owned by Anta, faced backlash for an event involving a large fireworks display in the Himalayas, which was criticized for environmental insensitivity [3] - Following the criticism, both Arc'teryx and artist Cai Guoqiang issued apologies, and local authorities in Shigatse have initiated an investigation into the incident [3]

针对近期旗下户外品牌始祖鸟的烟花秀争议，9月22日，控股公司安踏体育官方客服向南都湾财社记者 表示，对此事表示抱歉，并称已将采访问题转达给相关部门。 同日，就此次始祖鸟营销活动是否有更多环保科学论证等问题，南都湾财社记者发送采访邮件至安踏体 育官方及投资者关系处，截至发稿前均未得到回应。 9月22日，安踏体育（2020.HK）开盘报92.350港元，而上一交易日收市报96.800港元，截至9月22日上 午9:50，安踏体育报91.650港元，跌5.32%。 近段时间，始祖鸟联合艺术家蔡国强在西藏喜马拉雅山脉江孜热龙地区燃放烟花一事持续在社交平台发 酵，尽管始祖鸟海内外官方账号都针对此事发布致歉信，但未能平息公众情绪。南都湾财社记者注意 到，在社交平台上，部分网友发文抵制退货，还有部分KOL发文称不与始祖鸟进行合作。 据"云端珠峰"9月21日通报，就始祖鸟烟花秀争议，日喀则市委、市政府高度重视，已成立调查组第一 时间赶赴现场核查，后续将根据核查结果依法依规处理。 安踏体育为始祖鸟（Arc'teryx）母公司亚玛芬体育（Amer Sports,Inc.）的控股股东。安踏体育今年半年 报显示，今年上半年，集团营收同 ...

作为始祖鸟母公司亚玛芬体育的重要投资方，安踏体育的股价出现明显波动，今日早间开盘下跌逾 4%。 （文章来源：新华财经） ...

9月21日，蔡国强工作室和始祖鸟分别发表声明致歉。"云端珠峰"微信公众号发布情况通报指出，日喀 则市委、市政府高度重视，已成立调查组第一时间赶赴现场核查，后续将根据核查结果依法依规处理。 转自：北京日报客户端 9月22日，安踏体育（02020.HK）跌4.60%报92.35港元/股，总市值蒸发125亿港元。 9月19日，户外品牌始祖鸟与艺术家蔡国强联合在西藏喜马拉雅山脉点燃大型烟花《升龙》。网友指责 上述活动欠缺考虑，无视喜马拉雅山脉环境。 据公开资料，始祖鸟为安踏旗下品牌。 来源：智通财经 ...

9月22日，港股安踏体育低开4.6%。21日，安踏旗下始祖鸟品牌因"赞助艺术家在喜马拉雅放烟花"致 歉。 | 安踏体育(2020) | < W | | | --- | --- | --- | | 集合竞价 09-22 09:20:58 通 | | | | 92.350 额 9378万 股本 28.07亿 市盈 15.9 | | | | 万得 | 20 | | | 市值1 2592亿 市净 3.71 | -4.450 -4.60% 换 0.04% | | | 人民币柜台 88.150 0.000 0.00% | | | | 分时 | 五昌 日K | 甲名 ( | | 盘目 成交 | 叠加 | 均价:93.179 | | 4.96% 卖10 92.800 3400(5) | 101.600 | | | 卖9 92.750 1000(1) | | | | 卖8 92.700 2400(1) | | | | 卖7 92.650 -- (0) | | | | 卖6 92.600 1.70万(1) | | | | 0.000 25 92.550 2.907(2) | 96.800 | | | 卖4 92.500 3.30 ...

Core Viewpoint - The recent fireworks event by the outdoor brand Arc'teryx in the Himalayas, in collaboration with artist Cai Guo-Qiang, has sparked significant public controversy regarding environmental concerns, leading to a notable decline in the stock price of its parent company, Anta Sports, which fell over 4% in early trading [1][2]. Group 1: Company Impact - Anta Sports' stock price dropped by more than 4% following the controversy surrounding the Arc'teryx fireworks event [1]. - The company's market capitalization is reported at 259.2 billion, with a price-to-earnings ratio of 16.11 and a price-to-book ratio of 3.71 [2]. Group 2: Environmental Concerns - The fireworks event on September 19 led to widespread criticism from netizens and outdoor enthusiasts regarding its environmental impact [2]. - In response to the backlash, Arc'teryx issued an apology and committed to cooperating with government oversight and third-party environmental assessments [3][6]. - Cai Guo-Qiang's studio also expressed a commitment to evaluate the ecological impact of the event and take remedial actions if necessary [6][7].

港股安踏体育股价下跌4.6%，旗下始祖鸟联合蔡国强在喜马拉雅山的烟花秀惹争议。 来源：滚动播报 ...

【#安踏集团暂无回应始祖鸟烟花秀事件#】户外品牌始祖鸟联手艺术家蔡国强在喜马拉雅山脉燃放艺术 烟花一事持续引发热议。9月21日凌晨，日喀则市官方微信公众号"云端珠峰"发布情况通报称，已成立 调查组第一时间赶赴现场核查。随后，蔡国强和始祖鸟也先后发布了致歉信。其中，始祖鸟在国内发布 致歉信的同时在海外社交媒体平台也发布了英文致歉信，但内容与国内版本有差异。 2019年，亚玛芬体育被安踏集团领衔的财团所收购。此次争议事件也波及安踏集团。新京报贝壳财经记 者注意到，多个名称带有"安踏"的社交平台账号都有网友涌入留言，其中安踏集团官方微博已设置关注 及评论限制，用户无法关注或评论其以往发布内容；其抖音账号多条视频也被隐藏。截至发稿，安踏集 团尚未对上述事件公开表态。 另外，在始祖鸟烟花秀事件后，多家户外品牌发声表态尊重自然。#官方通报蔡国强烟花秀# 始祖鸟在国内社媒平台致歉称，对艺术表达边界评估要更专业、对自然要更谦卑，承诺在政府监管下， 配合团队复核项目生态影响，邀请第三方评估并依结果补救，同时推进藏地环保计划与文化公益项目。 而在其海外社交账号上则称，对青藏高原烟花表演深感遗憾，此行为与品牌环保价值观及期望不符， ...

Investment Rating - The report maintains a positive outlook on the textile and apparel industry, particularly highlighting the potential in the sports sector due to recent policy support for sports events [3][10]. Core Insights - The textile and apparel sector underperformed the market, with the SW textile and apparel index declining by 0.3% from September 15 to September 19, 2025, while the SW apparel and home textiles index rose by 0.7% [3][4]. - Recent industry data indicates that from January to August 2025, the total retail sales of clothing, shoes, and textiles reached 940 billion yuan, reflecting a year-on-year growth of 2.9% [3][21]. - The report emphasizes the importance of domestic demand recovery as a key investment theme for 2025, with a focus on quality domestic brands that are expected to rebound from current challenges [3][11]. Summary by Sections Textile Sector - Vietnam's textile and footwear exports fell in August, with a decline of 4.8% and 3.9% respectively, attributed to preemptive order completions to avoid tariff increases [9]. - The report suggests focusing on high-quality manufacturers with diversified global production capacities [9]. - The cotton price index in China was reported at 15,200 yuan per ton, down 0.3% week-on-week, while international cotton prices showed slight increases [34]. Apparel Sector - The government has introduced policies to boost service consumption, particularly in sports events, which is expected to enhance the performance of the sports apparel segment [10][11]. - The report highlights the potential for new consumption growth points through the integration of sports events with tourism and local commerce [10][11]. - Retail innovation is accelerating, with brands like Anta and 361 Degrees expanding their store formats to capture new consumer trends [11]. Key Recommendations - The report recommends investing in outdoor sports brands such as Anta, Li Ning, and 361 Degrees, as well as discount retailers like Hailan Home [3][11]. - It also suggests monitoring companies involved in the non-woven fabric supply chain, particularly Nobon and Jeya, which are expected to benefit from market recovery [9].

Core Viewpoint - Anta Group's subsidiary, Arc'teryx, issued inconsistent apology statements regarding a controversial fireworks event in the Tibetan Plateau, highlighting a disconnect between their values and actions [1][2]. Group 1: Apology Statements - Arc'teryx's overseas statement on Instagram acknowledged that the fireworks event contradicted their values and expressed regret, emphasizing their commitment to environmental principles and community engagement [1]. - The domestic statement recognized public concerns and accepted criticism, stating that the project aimed to raise awareness of local culture but deviated from its intent, and committed to a thorough environmental impact review [2]. Group 2: Public Reaction - Foreign netizens expressed skepticism towards the sincerity of the apologies, questioning the approval processes that allowed the event to occur and demanding actionable changes rather than mere public relations statements [4][5]. - Local environmental authorities indicated that the event complied with regulations, citing the use of eco-friendly materials for the fireworks, but experts highlighted the ecological sensitivity of the Tibetan Plateau, emphasizing the fragility of its environment [5].