Core Viewpoint - The report from Credit Lyonnais highlights Anta Sports (02020) as the top pick in the sportswear sector, with slight upward adjustments to sales and net profit forecasts for 2025-2027, and an increase in target price from HKD 114 to HKD 116, maintaining an "outperform" rating [1] Company Summary - Anta Sports is identified as the largest market share winner in the domestic sportswear market, with expectations that domestic brands will surpass international sports retailers in revenue and profitability [1] - The sales forecast for Anta Sports has been slightly increased by 2%, while net profit forecasts have been raised by 1% for the years 2025-2027 [1] Industry Summary - The report notes that domestic sportswear brands are continuing to expand their market share, with a year-on-year sales growth of 4.2% in the first half of the year, outperforming the apparel and accessories sector's growth of 3.1%, but still lagging behind the overall consumer goods growth of 5% [1] - The third quarter is expected to show improved retail sales on a quarterly basis due to a lower base, although discount pressures remain a concern [1] - Xtep International (01368) has seen a downward adjustment in sales forecasts by 1% to 2% and profit forecasts reduced by 3% to 5% for 2025-2027, but its target price has been raised from HKD 5.9 to HKD 6.3, maintaining an "outperform" rating based on risk-reward ratio [1]