智通财经网·2026-02-11 08:45Core Viewpoint - Citi's report indicates that investors are questioning whether Anta Sports' acquisition of Puma will enhance or hinder its business in China, maintaining a target price of HKD 107 and a buy rating for Anta [1] Group 1: Acquisition Impact - The report suggests that the acquisition could lead to rapid growth in brand revenue by restructuring Puma's business in China [1] - Anta is expected to merge Puma's retail and distribution operations in China, despite only holding a 29% stake, which could result in significant upside potential [1] - Anta's strong retail expertise in China is anticipated to drive rapid growth in Puma's distribution and retail business [1] Group 2: Investor Sentiment - Citi believes that investors may be underestimating the positive impact of Puma's business on Anta following the completion of the acquisition [1]