In today’s briefing:
- Quiddity Leaderboard F100/250 Dec 23: ~7 Changes Possible; LONG Playtech SHORT 888 Interesting
- Xtep International (1368 HK): Strong 3Q23 Retail Sales But At The Expense Of Higher Discounts
- Anta Sports (2020 HK): Bucking the Challenging Trend
- 5 in 5 with EuroSports Global – Revving Up Sustainable Urban Mobility
Quiddity Leaderboard F100/250 Dec 23: ~7 Changes Possible; LONG Playtech SHORT 888 Interesting
- In this insight, we take a look at the potential index changes for F100 and F250 in the run-up to the December 2023 Rebalance.
- Dechra Pharmaceuticals (DPH LN) and Network International Holdings (NETW LN) are currently involved in takeover situations. When those deals close, intra-review changes can be triggered.
- Including these changes, there could be up to one F100 change and seven F250 changes between now and the end of the year.
Xtep International (1368 HK): Strong 3Q23 Retail Sales But At The Expense Of Higher Discounts
- Xtep International (1368 HK) announced yesterday strong retail sales of high-teens growth in 3Q23.
- Though the growth was at the expense of slightly higher overall discounts of 25-30% off during the quarter.
- I prefer Anta over Xtep given higher visibility in Anta’s bottom line, as Xtep’s growth continues to be of lesser quality than Anta’s.
Anta Sports (2020 HK): Bucking the Challenging Trend
- Anta Sports Products (2020 HK) achieved a decent 3Q23 with sales performance of major brands outperformed. With a low comparison base, 4Q23 sales will be even more impressive.
- Indications are that sales for the Golden Week are satisfactory and “double-11” sales are optimistic. The acquisition of MAIA ACTIVE will further add to its product portfolio.
- Amer’s IPO is another catalyst and reports are that this has been filed in the US. Anta Sports’ stake may be valued at US$4bn, almost 12% of its market cap.
5 in 5 with EuroSports Global – Revving Up Sustainable Urban Mobility
5 in 5 with EuroSports Global – Revving Up Sustainable Urban Mobility
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