深夜，股价暴涨！

Core Viewpoint - Puma's stock surged over 16% amid reports that Chinese companies Anta and Li Ning are considering a potential acquisition of the struggling German sportswear brand [2][4]. Group 1: Puma's Current Situation - Puma is in a "restart phase" as its sales growth has significantly slowed after a brief increase during the pandemic, leading to high inventory issues [6]. - The company's stock recently hit a 10-year low, with a year-to-date decline exceeding 50% due to intensified competition in the sportswear market and tariff impacts on consumer sentiment [6]. - Puma's CEO, Arthur Hoeld, is tasked with revitalizing the brand, implementing a turnaround plan that includes layoffs, product line reductions, and improved marketing efficiency [6][7]. Group 2: Financial Performance and Projections - In the most recent quarter, Puma reported a double-digit decline in sales and has adjusted its 2025 performance guidance from a previously expected low to mid-single-digit sales growth to a forecast of low double-digit sales decline [9]. - The company anticipates an operating loss in 2025, contrasting sharply with earlier projections of operating profits between €445 million and €525 million, primarily due to tariff impacts [10]. Group 3: Acquisition Interest - Anta Sports, listed in Hong Kong, is weighing the possibility of making a bid for Puma, which could serve as a gateway for Anta into Western markets [6]. - Other potential suitors for Puma may include Chinese brand Li Ning and Japanese company ASICS, although Li Ning has stated it is not currently engaged in any substantial negotiations regarding the acquisition [6][8].