ANTA SPORTS(HK:02020) Ge Long Hui·2025-10-28 11:28Core Insights - Anta Group has demonstrated resilience in its growth amidst challenges faced by the apparel and textile industry, particularly in the sportswear sector, which has seen a decline in growth due to macroeconomic factors and unusual weather conditions [1][4] Group 1: Financial Performance - In Q3 2025, Anta's main brands, Anta and FILA, achieved low single-digit growth, aligning with the overall trend in the mass sports market, showcasing sustained growth resilience [3] - FILA's performance was bolstered by e-commerce, which continued to grow despite delays in autumn and winter product sales due to weather [3] - Other brands under Anta recorded a retail value increase of 45-50%, indicating strong growth momentum and the success of Anta's multi-brand strategy [3] Group 2: Market Position and Strategy - Anta's collective growth among its multiple brands during a period when competitors like Nike faced revenue declines highlights its operational resilience [4] - The company is well-positioned for future growth, as it has maintained healthy operational levels and controlled retail discounts, which supports its pricing power and brand value [1][3] Group 3: Seasonal Trends and Sales Performance - The onset of the fourth quarter has seen a recovery in terminal sales as temperatures drop, setting the stage for a strong autumn and winter sales season [5] - Anta's brands have performed well in the pre-sales for the "Double 11" shopping festival, with FILA ranking first in Tmall's sports and outdoor sales and Anta also performing strongly [7][9] Group 4: Long-term Outlook - The long-term demand for health and sports remains strong, supported by government policies aimed at enhancing sports consumption and developing the sports industry [9] - Anta's multi-brand strategy is expected to translate into sustained and robust growth momentum, maintaining both growth potential and certainty in the market [9]