Analyst

Steve Zhou, CFA

15 years of experience in both buy and sell-side in Asia.

Shenzhou Intl (2313 HK):  Nike's Inventories Declined By 10% Yoy in 1Q24

Shenzhou Intl (2313 HK):  Nike Guidance Cut Presents An Opportunity

Equity Bottom-Up

Shenzhou Intl Group Holdings / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shenzhou-intl-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:10415:1" rel="noopener">Shenzhou Intl Group Holdings (2313 HK)</a> reported 2023 results yesterday.  2H23 continued to be weak, with sales down 6% yoy.  Net profit grew 10% yoy in 2H23.</li>
<li>Most importantly, the company sounded quite bullish on 2024 during the results briefing, which greatly improves the visibility in the order recovery thesis of the company.</li>
<li>I continue to believe that Shenzhou is the best proxy for gaining exposure to the global sportswear sector, especially given the improved visibility now. </li>
</ul>



Shenzhou Intl Group Holdings (2313 HK) reported 2023 results yesterday.  2H23 continued to be weak, with sales down 6% yoy.  Net profit grew 10% yoy in 2H23.
Most importantly, the company sounded quite bullish on 2024 during the results briefing, which greatly improves the visibility in the order recovery thesis of the company.
I continue to believe that Shenzhou is the best proxy for gaining exposure to the global sportswear sector, especially given the improved visibility now. 


Shenzhou Intl (2313 HK):  Higher Visibility Into Restocking Cycle