安踏Q4业绩发布 多品牌韧性凸显 去年高端户外增长近50%

Core Viewpoint - Anta Group (2020.HK) reported strong retail performance for Q4 and the full year of 2025, achieving over 70 billion in total revenue despite macroeconomic challenges and insufficient consumer momentum [1] Group Performance - The company recorded high single-digit growth in Q4 revenue and low double-digit growth for the full year, indicating a solid performance [1] - The multi-brand strategy of Anta has demonstrated strong resilience and advantages, contributing to a robust fundamental base [1] Brand Highlights - The FILA brand achieved mid-single-digit positive growth for both the full year and Q4, showcasing strong growth resilience and industry leadership in a challenging market environment [1] - Other brands in the portfolio, such as DESCENTE and KOLON SPORT, performed exceptionally well, with full-year retail revenue growth of 45-50% and Q4 growth of 35-40% [1] Future Outlook - Short-term macroeconomic and climate factors are not expected to alter the long-term positive fundamentals of the sports consumption market [1] - Market perspectives suggest that as long as Anta continues to adhere to its multi-brand collaborative growth strategy, deepen the differentiated positioning of each brand, enhance product support through technological innovation, and improve operational efficiency and health, it can continue to outperform the industry and further expand its leading advantage [1]