昂跑2025年Q3财报超预期，全球扩张加速获机构看好

Financial Performance - In Q3 2025, the company reported net sales of 794.4 million Swiss francs, a year-on-year increase of 24.9% (34.5% growth at constant exchange rates), exceeding market expectations [2] - Net profit saw a significant year-on-year increase of 289.8%, with gross margin rising to 65.7% [2] - The company raised its full-year guidance for 2025, expecting a 34% increase in net sales at constant exchange rates [2] Business Expansion - In November 2025, the company opened five new stores in Asia, the Middle East, Latin America, and Europe, marking its entry into the South Korean, Saudi Arabian, Mexican, and Spanish markets [3] - This expansion strategy aims to strengthen direct sales channels and community engagement, supporting the brand's international growth [3] Institutional Ratings - On December 30, 2025, UBS reiterated a "Buy" rating for the company with a target price of $85 [4] - The report highlighted an increase in global brand awareness from 13% in 2024 to 15%, with a significant rise in purchase intent for athletic shoes and apparel, suggesting potential market share growth in 2026 [4] Stock Performance - On January 5, 2026, the company's stock price surged by 5.03% in a single day, with a trading volume of 645,300 shares [5] - Institutional ratings indicate that 86% of participating brokers recommend a buy [5]