Core Viewpoint - Jianyin International has raised the target price for Anta Sports (02020) to HKD 108, reflecting a positive outlook based on the company's performance in the first half of the year [1] Financial Performance - Anta Sports reported a net profit increase of 15% year-on-year, driven by a revenue growth of 14%, which aligns with expectations [1] - The revenue from the Anta brand specifically grew by 5% [1] - The operating profit margin for the Anta brand improved by 1.5 percentage points to 23.3%, aided by an increase in government subsidies [1] Strategic Developments - The group has announced a joint venture with the South Korean fashion platform Musinsa, which is expected to help tap into market opportunities among the younger generation in the long term [1] Target Price Adjustment - The target price for Anta Sports has been increased from HKD 106 to HKD 108, while maintaining an "outperform" rating [1]

Core Viewpoint - Anta Sports (02020) reported a 15% year-on-year increase in net profit for the first half of the year, driven by a 14% revenue growth, which largely met expectations [1] Financial Performance - Revenue growth of 14% contributed to the increase in net profit [1] - Anta brand revenue increased by 5% [1] - Operating profit margin for Anta brand improved by 1.5 percentage points to 23.3% due to increased government subsidies [1] Strategic Developments - The group announced a joint venture with South Korean fashion platform Musinsa, which is expected to help tap into market opportunities among the younger generation in the long term [1] Target Price and Rating - The target price for Anta Sports was raised from HKD 106 to HKD 108, maintaining an "outperform" rating [1]