Zhi Tong Cai Jing·2025-08-28 09:36Core Viewpoint - Anta Sports (02020) reported a 14.5% year-on-year increase in adjusted net profit for the first half of the year, meeting expectations [1] - The management has raised forecasts for Descente and Kolon, indicating confidence in the multi-brand strategy [1] - The recent business developments related to Jack Wolfskin and Musinsa are expected to serve as long-term growth catalysts for the company [1] - The target price for Anta has been raised from HKD 106 to HKD 114.7, maintaining a "Buy" rating [1] Financial Performance - Adjusted net profit for the first half increased by 14.5% year-on-year, aligning with market expectations [1] Strategic Outlook - Management's upward revision of forecasts for Descente and Kolon reflects a positive outlook on the multi-brand strategy [1] - Anta's recent business developments with Jack Wolfskin and Musinsa are anticipated to drive long-term growth [1] Investment Rating - The investment bank maintains a "Buy" rating for Anta Sports, with an increased target price of HKD 114.7 from HKD 106 [1]