ANTA Sports_ Investor Feedback on Stock Pullback
2025-03-31 02:41
更多资料加入知识星球：水木调研纪要 关注公众号：水木Alpha March 25, 2025 03:50 AM GMT ANTA Sports | Asia Pacific M Update Investor Feedback on Stock Pullback Key Takeaways Market concerns: ANTA and FILA's GPM was down 1.6ppt and 3.3ppt y/y, respectively, in 2H24. ANTA's opex ratio was up 4.0ppt y/y in 2H24 while FILA's opex ratio was flat. The GPM contraction was due to 1) weak consumer demand (3Q in particular) and traffic shift to online and factory outlets, leading to more discounts, 2) exploration for new products which increase ...