In today’s briefing:
- NWS (659 HK): Final Divvie Assured. NWD Vote Risk Remains
- Weekly Wrap – 13 Oct 2023
- Anta Sports (2020 HK): Strong 3Q23 Update
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NWS (659 HK): Final Divvie Assured. NWD Vote Risk Remains
- Accelerating the Offer timetable for NWS (659 HK) such that it closes before the dividend ex-date appeared stingy. But why pay dividends to shareholders that won’t hold the shares anymore?
- Those concerns have been put to rest with the despatch of NWS’ Composite Doc and New World (17 HK)‘s Circular, guaranteeing all shareholders the dividend, no matter the Offer outcome.
- The key risk now is NWD’s independent shareholder vote. On balance, this should get up.
Weekly Wrap – 13 Oct 2023
Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:
and more…
Anta Sports (2020 HK): Strong 3Q23 Update
- Anta Sports Products (2020 HK) announced a set of strong 3Q23 operating data yesterday after market close.
- Both Anta and Fila brands performed well in a challenging macro environment in China in 3Q23, with 3Q22 being a high base.
- Another bright spot is that other brands outside of Anta and Fila grew 45-50% yoy in 3Q23, with Descente up 40-45% yoy and Kolon up 65-70% yoy.