（文章来源：21世纪经济报道） 安踏体育在公告中表示，此次收购以推进其"单聚焦、多品牌及全球化"战略。彪马专业运动及潮流市场 定位与安踏现有品牌布局高度互补。同时，安踏亦有成熟的经验帮助彪马重新激活品牌价值。公告显 示，截至2025年6月30日的前6个月，目标集团收入40.18亿欧元，净亏损约2.47亿欧元。 1月27日，安踏体育（02020.HK）发布公告，1月26日，公司与Artémis订立购股协议，以每股35欧元， 合计约15.06亿欧元（约合人民币123亿元）的交易对价，计划收购PUMASE29.06%的股份，成为其最大 股东。 ...

安踏集团公众号27日早间发文称，安踏体育用品有限公司今日宣布，与Pinault家族的投资公司Groupe Artémis达成购股协议，收购运动品牌彪马（PUMA）所属公司PUMA SE29.06%的股权。现金对价为15 亿欧元（按当前汇率，约合人民币123.885亿元）。 安踏方面表示，本次交易预计有望于2026年底前完成，但仍需要得到相关监管部门批准及满足惯例交割 条件。此次股权收购资金全部来源于安踏集团的内部自有现金储备。 安踏集团董事局主席丁世忠表示，"收购彪马的股权成为最大股东，是安踏集团深入推进'单聚焦、多品 牌、全球化'发展战略的重要里程碑。" 来源：中 新经纬 ...

Core Viewpoint - Anta Group has announced the acquisition of a 29.06% stake in PUMA SE from Groupe Artémis for €1.5 billion, marking a significant step in its global strategy to enhance its influence and competitiveness in the sports goods market [1][4][7] Group 1 - The acquisition is part of Anta Group's strategy to deepen its global presence and is expected to enhance its brand recognition and market competitiveness [4][7] - PUMA is recognized for its strong brand assets and global influence, particularly in key sports markets such as Europe, Latin America, Africa, and India, with a focus on categories like football, running, training, basketball, and motorsports [4] - The transaction is anticipated to be completed by the end of 2026, pending regulatory approvals and customary closing conditions, with funding sourced entirely from Anta Group's internal cash reserves [4][7] Group 2 - Anta Group's Chairman, Ding Shizhong, emphasized that becoming the largest shareholder of PUMA is a milestone in the company's "single focus, multi-brand, globalization" development strategy [7] - The company aims to collaborate with PUMA to leverage its brand potential and contribute to the global sports industry's growth, creating long-term value for consumers and stakeholders [7] - Following the completion of the transaction, Anta Group plans to appoint suitable representatives to the supervisory board of PUMA, ensuring the preservation of PUMA's brand identity and exploring further cooperation opportunities [7]

Core Viewpoint - Anta Sports is acquiring a 29.06% stake in Puma SE for over €1.5 billion (approximately RMB 12.278 billion), making Anta the largest shareholder of Puma after the transaction is completed [1][8]. Group 1: Acquisition Details - The acquisition is expected to enhance Anta's position and brand recognition in the global sports goods market, thereby increasing its overall international competitiveness [6][13]. - The transaction is anticipated to be completed by the end of 2026, pending regulatory approvals and customary closing conditions [6][13]. - The funding for the acquisition will come entirely from Anta Group's internal cash reserves [6][13]. Group 2: Puma's Financial Performance - Puma has experienced a decline in performance, with a net profit of €360 million in 2023, dropping to €342 million in 2024, and reporting a net loss of €247 million in the first half of 2025 [5][13]. - In Q3 2025, Puma reported a net loss of €62.3 million and plans to cut approximately 900 white-collar jobs globally by the end of 2026 as part of cost-reduction measures [5][13]. Group 3: Anta's Recent Activities - Anta has been active in acquiring foreign brands, including the full acquisition of German outdoor brand Jack Wolfskin for $290 million (approximately RMB 2.1 billion) in April 2025 [6][14]. - Anta Sports is also the largest shareholder of Amer Sports Inc., having completed its acquisition in 2019, which includes brands like Arc'teryx and Salomon [7][14]. - For the first half of 2025, Anta reported a revenue of RMB 16.95 billion for its brand, a 5.4% year-on-year increase, and RMB 14.18 billion for the FILA brand, an 8.6% increase [7][15].

Core Viewpoint - Anta Sports (02020) has acquired a 29.06% stake in PUMA SE from Artémis for a total consideration of €1.506 billion (approximately ¥12.278 billion), which is expected to enhance its position and brand recognition in the global sports goods market [1] Group 1: Acquisition Details - Anta Sports purchased 43.0148 million shares of PUMA SE at €35 per share [1] - The acquisition makes Anta the largest shareholder of PUMA SE, which is significant for strategic positioning [1] Group 2: PUMA SE Overview - PUMA SE is engaged in the development and sale of various sports and lifestyle products, including footwear, apparel, and accessories under the PUMA brand [1] - PUMA's shares are listed on the Frankfurt Stock Exchange and other regulated markets in Germany [1]

Core Viewpoint - Anta Sports has acquired a 29.06% stake in PUMA SE from Artémis for a total consideration of €1.506 billion (approximately ¥12.278 billion), which is expected to enhance its position in the global sports goods market and increase brand recognition [1]. Group 1: Acquisition Details - Anta Sports purchased 43.0148 million shares of PUMA SE at a price of €35 per share [1]. - The acquisition makes Anta the largest shareholder of PUMA SE, indicating a significant strategic move [1]. Group 2: Market Impact - Following the announcement, Anta Sports' stock price increased by over 3%, reaching HK$78.6 with a trading volume of HK$333 million [1]. - The acquisition is anticipated to strengthen Anta's overall international competitiveness in the sports goods sector [1]. Group 3: PUMA SE Overview - PUMA SE is engaged in the development and sale of various sports and lifestyle products, including footwear, apparel, and accessories under the PUMA brand [1]. - PUMA's shares are listed on the Frankfurt Stock Exchange and are traded in several regulated markets across Germany [1].

Core Viewpoint - Anta Sports has announced a share purchase agreement with Groupe Artémis, acquiring a 29.06% stake in Puma SE for €1.5 billion, marking a significant step in its global strategy to enhance its influence, visibility, and competitiveness in the global sports goods market [1]. Group 1 - Anta Sports is advancing its globalization strategy through the acquisition of a stake in Puma [1]. - The cash consideration for the acquisition is €1.5 billion [1]. - This acquisition is expected to elevate Anta's presence in the global sports goods market [1].

Core Viewpoint - Anta Sports (02020.HK) has announced the acquisition of a 29.06% stake in Puma SE for €1.5 billion, leading to a 1.51% increase in its stock price [1] Company Summary - Anta Sports is acquiring a significant minority stake in Puma SE, which indicates a strategic move to strengthen its position in the global sportswear market [1] - The acquisition amount is €1.5 billion, reflecting Anta's commitment to expanding its portfolio and influence in the industry [1] Industry Summary - The acquisition highlights ongoing consolidation trends within the sportswear industry, as companies seek to enhance their market share and competitive edge [1] - This move may impact market dynamics, potentially leading to increased competition among major players in the sportswear sector [1]

Core Viewpoint - Anta Group has reached an agreement to acquire a 29.06% stake in Puma SE from the Pinault family's investment company Groupe Artémis for €1.5 billion, marking a significant milestone in Anta's strategy of "single focus, multi-brand, globalization" [2] Group 1: Acquisition Details - The transaction is expected to be completed by the end of 2026, pending regulatory approvals and customary closing conditions [2] - The acquisition will be funded entirely from Anta's internal cash reserves [2] - Anta's Chairman, Ding Shizhong, emphasized the importance of respecting Puma's management culture and governance structure post-acquisition [2] Group 2: Financial Implications - Anta stated that the acquisition price is appropriate based on Puma's brand influence and will not affect the dividend distribution for 2025 [3] - Puma's sales decreased by 10.4% to €1.9557 billion in Q3 2025, with wholesale business down 15.4% to €1.3857 billion, while direct-to-consumer (DTC) sales grew by 4.5% to €570 million [7] Group 3: Strategic Outlook - Anta is confident in Puma's long-term value and potential, believing that Puma's recent stock price does not reflect its brand value [9] - Anta's acquisition strategy focuses on brands with strong value and potential for strategic transformation, as well as investing in high-potential emerging brands [9] - Anta's globalization strategy includes three steps: establishing international brands in China, managing global brands, and promoting the Anta brand internationally [10] Group 4: Operational Model - Anta employs a decentralized governance model where each brand's CEO is responsible for profitability, allowing for strategic consensus while maintaining brand uniqueness [13] - The company adheres to a principle of "acquisition without replacement," trusting existing management teams of international brands to maintain operational effectiveness [13] - Anta's approach is seen as a reference for the domestic sports market and corporate development amid fluctuations [14]

Group 1 - The core viewpoint of the article is that Anta Sports has signed a share purchase agreement with Artemis, the major shareholder of Puma, to acquire a 29.06% stake in Puma SE for €35 per share, totaling €1.506 billion (approximately RMB 12.278 billion) [1] - This acquisition is strategically significant as it positions Anta Sports as the largest shareholder of Puma, which is expected to enhance its global market position and brand recognition in the sports goods sector [1]