Macro Data - The US PCE price index increased by 2.5% year-on-year in July, slightly below the expected 2.6% [1] - The US Q2 GDP annualized quarter-on-quarter growth was revised up to 3%, compared to the initial estimate of 2.8% [1] - Japan's Tokyo CPI rose by 2.6% year-on-year in August, exceeding expectations [1] - The Eurozone HICP preliminary value for August showed a year-on-year increase of 2.2%, the lowest since August 2021 [1] Company Performance - Anta Sports reported a 13.8% year-on-year increase in revenue for H1 2024, reaching 33.735 billion yuan, with a net profit of 7.721 billion yuan, up 62.6% [2][3] - The gross profit margin for Anta Sports improved to 64.1%, with a net profit margin of 22.9% [2][3] - Anta's brand revenue was 16.08 billion yuan, a 13.5% increase, while FILA's revenue was 13.06 billion yuan, up 6.8% [2][3] - China Tobacco Hong Kong reported a total revenue of 8.7 billion HKD for H1 2024, a 12.4% increase, with a net profit of 640 million HKD, up 40.8% [4] - Miniso achieved a revenue of 7.76 billion yuan in H1 2024, a 25% increase, with a net profit of 1.24 billion yuan, up 18% [5][6] Brand and Product Insights - Anta's footwear revenue increased by 18% to 14.64 billion yuan, while apparel revenue rose by 10.8% to 18.08 billion yuan [2][3] - The gross profit for Anta's brands increased by 15.3% to 21.618 billion yuan, achieving the highest gross profit margin in history [3] - China Tobacco's cigarette export revenue surged by 127.9% to 550 million HKD, driven by the recovery of duty-free market traffic [4] - Miniso's domestic same-store sales grew by 16%, outperforming the industry average [6] Market Trends - The S&P 500 Consumer Discretionary index showed a slight decline of 0.23%, while the Hang Seng Consumer index increased by 3.39% [8] - Notable stock performances included China Feihe, which rose by 19.37%, and Miniso, which increased by 5.61% [9]
海外消费行业周更新：安踏H1表现亮眼，中烟香港卷烟出口增长强劲
Guohai Securities·2024-09-02 06:34