Investment Rating - The report maintains a "Buy" rating for key companies in the textile and apparel sector, including Anta Sports, Li Ning, and Xtep International [19][44]. Core Insights - Amer Sports reported a strong performance in Q2 2025, with adjusted net profit increasing by 46% and revenue growing by 23% year-on-year to $1.2 billion [1][24]. - The company expects revenue growth of 20%-21% for 2025, with specific segments like Technical Apparel and Outdoor Performance projected to grow by 22%-25% [2][24]. - The report highlights a positive outlook for the sportswear segment, with a focus on companies demonstrating robust operational fundamentals [40]. Summary by Sections Company Performance - Amer Sports' Q2 2025 revenue reached $1.2 billion, with significant regional growth: Americas (+6%), Greater China (+42%), EMEA (+18%), and Asia-Pacific (+45%) [1][24]. - The Technical Apparel segment saw a 23% revenue increase to $509 million, with a direct-to-consumer (DTC) channel growth of 31% [2][29]. - The Outdoor Performance segment, led by Salomon, experienced a 35% revenue increase to $414 million, driven by new store openings and strong DTC sales growth of 63% [3][33]. - The Ball & Racquet segment reported an 11% revenue increase to $314 million, with growth primarily from apparel and racquet products [4][35]. Market Outlook - The report anticipates a continued recovery in consumer spending in Q3 2025, with the sportswear segment expected to outperform the broader textile and apparel market [40]. - The overall health of inventory turnover ratios for major sports brands remains stable at 4-5, indicating a positive market environment [40]. Key Recommendations - The report recommends focusing on leading companies with strong performance metrics, such as Anta Sports, Li Ning, and Xtep International, which are expected to deliver sustainable growth [44]. - It also highlights the importance of companies with solid operational fundamentals and growth potential in the textile and apparel sector [40].