Xtep International Holdings Limited (HK:1368)
:1368
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Xtep International Holdings
(1368)
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Rating:69Neutral
Price Target:
HK$5.00
▼(-4.03% Downside)
Action:DowngradedDate:03/28/26
The score is driven primarily by solid financial performance and an attractive valuation (low P/E and high dividend yield). These positives are tempered by weak technicals, with the stock trading below key moving averages and showing negative momentum indicators.
Positive Factors
Multi-year Revenue & Gross Margin
Consistent multi-year revenue expansion and a sustained ~41% gross margin indicate durable product demand and pricing power in core footwear and apparel. This stability supports continued investment in brand, product development and channel expansion, underpinning long-term margin resilience and reinvestment capacity.
Negative Factors
2025 Margin Compression
Observed margin compression in 2025 versus 2024 weakens earnings quality and reduces operating leverage. If sustained, lower gross and operating margins will erode cash generation, limit reinvestment or dividend capacity, and increase sensitivity to input-cost or pricing shocks over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year Revenue & Gross Margin
Consistent multi-year revenue expansion and a sustained ~41% gross margin indicate durable product demand and pricing power in core footwear and apparel. This stability supports continued investment in brand, product development and channel expansion, underpinning long-term margin resilience and reinvestment capacity.
Read all positive factors
Xtep International Holdings (1368) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$12.26B
Dividend Yield4.94%
Average Volume (3M)8.61M
Price to Earnings (P/E)9.5
Beta (1Y)0.97
Revenue Growth-12.29%
EPS Growth21.00%
CountryHK
Employees8,900
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Retail
Share Statistics
EPS (TTM)0.18
Shares Outstanding2,806,072,300
10 Day Avg. Volume7,864,409
30 Day Avg. Volume8,606,806
Financial Highlights & Ratios
PEG Ratio-4.86
Price to Book (P/B)1.26
Price to Sales (P/S)0.92
P/FCF Ratio17.99
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$6.31Price Target Upside21.15% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering15
EPS Forecast (FY)0.48
Revenue Forecast (FY)HK$14.90B
Xtep International Holdings Business Overview & Revenue Model
Company Description
Xtep International Holdings Limited engages in the design, development, manufacture, sale, marketing, and brand management of sports footwear, apparel, and accessories. The company operates in three segments: Mass Market, Athleisure, and Professio...
How the Company Makes Money
Xtep makes money primarily by selling sportswear products—especially athletic footwear and apparel—under its brand portfolio. The company’s revenue model is largely built on (1) sales of branded products through wholesale and distribution: it supp...
Xtep International Holdings Financial Statement Overview
Summary
Income Statement
73
Positive
Balance Sheet
78
Positive
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 13.78B | 13.58B | 14.35B | 12.93B | 10.01B |
| Gross Profit | 5.62B | 5.87B | 6.05B | 5.29B | 4.18B |
| EBITDA | 1.75B | 2.09B | 1.93B | 1.72B | 1.55B |
| Net Income | 1.34B | 1.24B | 1.03B | 921.69M | 908.34M |
Balance Sheet | |||||
| Total Assets | 16.91B | 15.97B | 17.33B | 16.49B | 14.62B |
| Cash, Cash Equivalents and Short-Term Investments | 4.14B | 2.98B | 3.29B | 3.91B | 3.93B |
| Total Debt | 2.76B | 3.10B | 3.80B | 3.47B | 2.74B |
| Total Liabilities | 6.78B | 7.27B | 8.40B | 8.19B | 6.63B |
| Stockholders Equity | 10.10B | 8.70B | 8.86B | 8.24B | 7.93B |
Cash Flow | |||||
| Free Cash Flow | 708.12M | 909.58M | 759.21M | 193.03M | 33.96M |
| Operating Cash Flow | 965.40M | 1.23B | 1.25B | 571.83M | 701.35M |
| Investing Cash Flow | -415.38M | 651.40M | -915.03M | -872.60M | -328.63M |
| Financing Cash Flow | -437.95M | -2.20B | -461.44M | -236.10M | 96.26M |
Xtep International Holdings Technical Analysis
Negative
5.21
Price Trends
5.09
Negative
5.31
Negative
5.54
Negative
Market Momentum
-0.17
Positive
34.10
Neutral
16.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1368, the sentiment is Negative. The current price of 5.21 is above the 20-day moving average (MA) of 4.90, above the 50-day MA of 5.09, and below the 200-day MA of 5.54, indicating a bearish trend. The MACD of -0.17 indicates Positive momentum. The RSI at 34.10 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1368.
Xtep International Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | HK$4.28B | 11.87 | 8.63% | 4.83% | -7.34% | -28.66% | |
69 Neutral | HK$12.26B | 9.54 | 9.08% | 4.94% | -12.29% | 21.00% | |
68 Neutral | HK$16.99B | 5.77 | 13.24% | 9.65% | -5.66% | -31.36% | |
62 Neutral | HK$2.38B | 10.65 | 10.57% | 9.18% | 3.78% | -21.19% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
54 Neutral | HK$266.00M | 8.11 | 4.46% | ― | -7.95% | 98.95% | |
42 Neutral | HK$4.16B | -44.65 | -5.51% | 0.32% | 1.21% | -5.68% |
* Consumer Cyclical Sector Average
HK:1368
Xtep International Holdings
4.58
-0.15
-3.17%
HK:0709
Giordano International
1.47
0.26
21.69%
HK:1223
Symphony Holdings Limited
1.40
0.60
75.00%
HK:1817
Mulsanne Group Holding Limited
0.28
-0.13
-30.86%
HK:3709
EEKA Fashion Holdings Limited
6.24
-0.34
-5.17%
HK:6110
Topsports International Holdings Limited
2.74
0.16
6.20%
Xtep International Holdings Corporate Events
Xtep lifts 2025 profit and cash as pro sports segment accelerates
Mar 26, 2026
Xtep International Holdings reported a 4.2% increase in revenue from continuing operations to RMB14.15 billion in 2025, driven by steady growth of its core Xtep brand and a strong 30.8% uplift in its professional sports segment. The company’...
Xtep Announces HKD 0.095 Final Dividend With Optional Scrip for 2025
Mar 26, 2026
Xtep International Holdings Limited has declared a final ordinary dividend of HKD 0.095 per share for the financial year ended 31 December 2025, with payment scheduled for 30 June 2026, subject to shareholder approval on 8 May 2026. The dividend w...
Xtep Refinances HK$500 Million Convertible Debt With New 2029 Zero-Coupon Issue
Feb 6, 2026
Xtep International Holdings has completed the concurrent repurchase of its entire HK$500 million 1.5% convertible bonds due 2026 and simultaneously issued a new HK$500 million zero-coupon convertible bond due 2029. The 2025 convertible bonds have ...
Xtep Plans Full Repurchase and Delisting of HK$500 Million 2025 Convertible Bonds
Feb 5, 2026
Xtep International Holdings announced that, subject to the satisfaction or waiver of conditions in its Dealer Manager Agreement, it intends to complete a concurrent repurchase of its 1.5% convertible bonds due 2026 with an aggregate principal amou...
Xtep Wins Vienna Listing Approval for New Bond Issue Amid Concurrent Repurchase
Feb 4, 2026
Xtep International Holdings has announced that the Vienna Stock Exchange has approved the listing and trading of its newly issued bonds on the Vienna MTF, with first trading expected to commence on 6 February 2026. The listing is part of a broader...
Xtep to Fully Repurchase 2026 Convertible Bonds and Refinance With New 2029 Issue
Feb 1, 2026
Xtep International Holdings has launched a capital management exercise involving the full repurchase of its outstanding HK$500 million 1.5% convertible bonds due 2026 and the proposed issuance of a new HK$500 million zero-coupon convertible bond m...
Xtep Plans New Convertible Bond Issue to Fund Repurchase of HK$500 Million Notes
Jan 30, 2026
Xtep International Holdings Limited has announced plans to conduct a concurrent repurchase of its HK$500 million 1.5% convertible bonds due 2026, which are listed on the Vienna Stock Exchange, and to issue a new tranche of convertible bonds to ins...
Xtep Schedules March Board Meeting to Approve 2025 Annual Results and Consider Final Dividend
Jan 23, 2026
Xtep International Holdings has announced that its board of directors will convene on 26 March 2026 to review and approve the audited annual results for the financial year ended 31 December 2025, and to consider the declaration of a final dividend...
Xtep Posts Modest Core-Brand Growth as Saucony Surges Over 30% in China
Jan 23, 2026
Xtep International reported that its core Xtep brand saw flat year-on-year retail sell-through in Mainland China in the fourth quarter of 2025 across online and offline channels, with retail discounts in the 25%–30% range, while Saucony deli...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.