Chang Jiang Shang Bao·2025-11-09 23:39Core Viewpoint - Anta Sports has faced ecological criticism due to its subsidiary Arc'teryx's involvement in an environmentally damaging fireworks event, yet its MSCI ESG rating has been upgraded from A to AA, raising questions about the company's commitment to ecological responsibility [2][3][5]. Group 1: ESG Rating and Environmental Issues - Anta Sports' MSCI ESG rating was upgraded from A to AA on October 17, 2023, despite ongoing ecological concerns related to its subsidiary Arc'teryx [3][5]. - The company has not publicly detailed its plans for ecological compensation and restoration following the environmental damage caused by the fireworks event [7]. - The fireworks event, held at a high-altitude location, has been deemed a human-induced disturbance with potential ecological risks that require monitoring [6]. Group 2: Financial Performance - In Q3 2025, Anta and FILA brands recorded low single-digit growth in retail sales compared to the same period in 2024, indicating a slowdown in growth [11]. - Over the past five years, Anta Sports' sales expenses have significantly increased, totaling approximately 1,087.4 billion, which is 35% of its total revenue of 3,102.17 billion [13]. - The company's revenue growth has slowed, with a reported revenue of 385.44 billion in the first half of 2025, reflecting a year-on-year increase of 14.3% [12].