ANTA Sports Products Ltd. (HK:2020)
:2020
Want to see HK:2020 full AI Analyst Report?
Top Page
ANTA Sports Products
(2020)
Select Model
Select Model
Rating:68Neutral
Price Target:
HK$91.00
▲(6.93% Upside)
Action:Reiterated
Date:03/27/26
The score is primarily supported by strong underlying financial performance, especially profitability and consistent free-cash-flow generation. This is partially offset by weak technical signals (price below major moving averages and negative momentum). Valuation is moderately supportive with a reasonable P/E and a solid dividend yield.
Positive Factors
Consistent free cash flow generation
Consistent and growing free cash flow is a durable strength: it supports reinvestment in stores, DTC/e‑commerce, brand marketing, and dividends without relying on external financing. Strong FCF conversion also provides flexibility to fund capex, buybacks, or deleveraging over months.
Negative Factors
Slowing revenue growth and 2025 margin step‑down
A slowdown in top‑line momentum together with a material margin decline in 2025 suggests mix, pricing, or cost pressures that may persist. Reduced revenue growth and compressed margins erode operating leverage and could limit durable earnings recovery absent structural fixes.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent free cash flow generation
Consistent and growing free cash flow is a durable strength: it supports reinvestment in stores, DTC/e‑commerce, brand marketing, and dividends without relying on external financing. Strong FCF conversion also provides flexibility to fund capex, buybacks, or deleveraging over months.
Read all positive factors
ANTA Sports Products (2020) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$197.23B
Dividend Yield3.1%
Average Volume (3M)7.19M
Price to Earnings (P/E)12.7
Beta (1Y)1.04
Revenue Growth13.33%
EPS Growth-12.01%
CountryHK
Employees65,900
SectorConsumer Cyclical
Sector Strength84
IndustryLeisure
Share Statistics
EPS (TTM)4.85
Shares Outstanding2,796,653,300
10 Day Avg. Volume6,950,175
30 Day Avg. Volume7,188,133
Financial Highlights & Ratios
PEG Ratio-1.24
Price to Book (P/B)3.19
Price to Sales (P/S)2.55
P/FCF Ratio11.45
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$105.22Price Target Upside23.64% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering23
EPS Forecast (FY)5.16
Revenue Forecast (FY)HK$87.61B
ANTA Sports Products Business Overview & Revenue Model
Company Description
ANTA Sports Products Limited is a global enterprise specializing in the design, development, production, and marketing of athletic footwear, apparel, and accessories. Its diverse product portfolio encompasses sportswear for various disciplines, in...
How the Company Makes Money
ANTA primarily makes money by selling sports footwear, apparel, and accessories across its brand portfolio. Revenue is generated through (1) product sales under the ANTA brand via a broad domestic retail footprint and distribution model, where sal...
ANTA Sports Products Earnings Call Summary
Earnings Call Date:Mar 26, 2024
(Q4-2023)
| % Change Since: |
Next Earnings Date:Aug 25, 2026
Earnings Call Sentiment Positive
ANTA Sports achieved record-breaking revenues and significant growth in operating efficiency and cash flow, demonstrating strong overall performance. However, challenges such as low consumer confidence and market share shifts were noted.Positive Updates
Record-Breaking Revenue and Growth
In 2023, ANTA Sports achieved the best results in its history with a revenue of CNY 62.3 billion, up 16% year-on-year. ANTA brand revenue exceeded CNY 30 billion for the first time, up 9%, while FILA's revenue was CNY 25.1 billion, up 16.6%, and other brands saw a 57.7% increase to CNY 6.9 billion.
Negative Updates
Consumer Confidence Challenges
Consumer confidence remained low, especially in the second half of the year, with the confidence index dropping to 87.6%.
Read all updates
Q4-2023 Updates
Positive
Negative
Record-Breaking Revenue and Growth
In 2023, ANTA Sports achieved the best results in its history with a revenue of CNY 62.3 billion, up 16% year-on-year. ANTA brand revenue exceeded CNY 30 billion for the first time, up 9%, while FILA's revenue was CNY 25.1 billion, up 16.6%, and other brands saw a 57.7% increase to CNY 6.9 billion.
Read all positive updates
Company Guidance
During the Q4 2023 earnings call for ANTA Sports Products Limited, the company reported robust financial performance with a revenue of CNY 62.3 billion, marking a 16% year-on-year increase. The ANTA brand achieved a revenue exceeding CNY 30 billion for the first time, up by 9%, while FILA's revenue rose by 16.6% to CNY 25.1 billion. The other brands saw a significant revenue increase of 57.7%, reaching CNY 6.9 billion. Operating profit margin improved by 3.7 percentage points to 24.6%, with ANTA at 22% and FILA at 27.6%. Profit attributable to shareholders, excluding Amer Sports, rose by 44.9% to CNY 10.9 billion. The company also reported a strong operating cash flow of CNY 19.6 billion, a 60% year-on-year increase. Inventory turnover days reduced by 15 days to 123 days, reflecting improved inventory management. ANTA highlighted its strategic focus on single-focus, multi-brand, and globalization strategies to sustain high-quality growth, with plans to continue expanding in international markets.ANTA Sports Products Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
80
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 80.22B | 70.83B | 62.36B | 53.65B | 49.33B |
| Gross Profit | 49.73B | 44.03B | 39.03B | 32.32B | 30.40B |
| EBITDA | 20.51B | 27.98B | 21.15B | 16.33B | 14.95B |
| Net Income | 13.59B | 15.60B | 10.24B | 7.59B | 7.72B |
Balance Sheet | |||||
| Total Assets | 124.35B | 112.61B | 92.23B | 69.19B | 62.67B |
| Cash, Cash Equivalents and Short-Term Investments | 39.05B | 34.30B | 38.64B | 28.30B | 26.90B |
| Total Debt | 33.44B | 28.12B | 21.47B | 19.50B | 18.32B |
| Total Liabilities | 53.57B | 45.88B | 36.22B | 31.36B | 31.00B |
| Stockholders Equity | 64.15B | 61.73B | 51.46B | 34.40B | 28.92B |
Cash Flow | |||||
| Free Cash Flow | 17.88B | 13.28B | 18.31B | 10.41B | 10.37B |
| Operating Cash Flow | 20.39B | 16.74B | 19.63B | 12.15B | 11.86B |
| Investing Cash Flow | -6.55B | -14.86B | -25.79B | -4.77B | -4.67B |
| Financing Cash Flow | -13.02B | -5.76B | 3.47B | -7.84B | -4.95B |
ANTA Sports Products Technical Analysis
Negative
85.10
Price Trends
77.98
Negative
78.35
Negative
81.79
Negative
Market Momentum
-1.22
Positive
32.07
Neutral
14.35
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2020, the sentiment is Negative. The current price of 85.1 is above the 20-day moving average (MA) of 74.79, above the 50-day MA of 77.98, and above the 200-day MA of 81.79, indicating a bearish trend. The MACD of -1.22 indicates Positive momentum. The RSI at 32.07 is Neutral, neither overbought nor oversold. The STOCH value of 14.35 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2020.
ANTA Sports Products Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$41.99B | 12.36 | 10.71% | 3.83% | 3.24% | -2.77% | |
70 Outperform | HK$4.42B | 6.38 | 19.99% | 7.41% | 9.62% | -6.18% | |
68 Neutral | HK$197.23B | 12.74 | 21.24% | 3.10% | 13.33% | -12.01% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | HK$3.97B | 113.59 | 9.51% | ― | 0.91% | -30.36% | |
44 Neutral | HK$138.55M | -4.68 | -26.46% | ― | 12.34% | -8.02% | |
44 Neutral | HK$239.90M | -8.95 | -10.23% | ― | -27.65% | -820.00% |
* Consumer Cyclical Sector Average
HK:2020
ANTA Sports Products
71.05
-17.34
-19.62%
HK:2331
Li Ning Company
16.26
1.01
6.59%
HK:1803
Beijing Sports and Entertainment Industry Group
0.08
-0.02
-21.90%
HK:1126
Dream International
6.53
-3.60
-35.51%
HK:0361
Sino Golf Holdings Limited
0.04
-0.02
-29.31%
HK:0805
New Gonow Recreational Vehicles, Inc.
4.14
2.87
225.98%
ANTA Sports Products Corporate Events
ANTA Sports posts solid Q1 2026 retail sales growth across core and emerging brands
Apr 13, 2026
ANTA Sports Products reported that in the first quarter of 2026, retail sales of its core ANTA branded products grew by a high-single digit percentage year on year, while FILA posted low-teens growth in retail value. The company also said that all...
ANTA Sports Sets 2026 AGM to Approve Dividend, Board Mandates and Share Issue Authority
Apr 9, 2026
ANTA Sports Products Limited has called its annual general meeting for 12 May 2026 in Xiamen, where shareholders will review the audited consolidated financial statements for the year ended 31 December 2025 and vote on a proposed final dividend of...
ANTA Sports Delivers Double-Digit Profit and Revenue Growth in 2025
Mar 25, 2026
ANTA Sports reported audited 2025 results showing revenue rose 13.3% year on year to RMB80.2 billion, with overall operating profit margin improving 0.4 percentage points to 23.8% as it stepped up investment in branding, channels, product RD and i...
ANTA Sports Proposes HKD 1.08 Final Dividend for 2025
Mar 25, 2026
ANTA Sports Products Limited has recommended a final ordinary cash dividend of HKD 1.08 per share for the financial year ended 31 December 2025. The proposal underscores the company’s continued commitment to returning cash to shareholders, r...
ANTA Wins HKEX Waiver to Delay Circular on Puma Stake Acquisition
Mar 4, 2026
ANTA Sports Products has obtained a waiver from the Hong Kong Stock Exchange that extends the deadline to send a shareholder circular regarding its planned acquisition of a 29.06% equity interest in Puma SE. The company now has until 24 April 2026...
ANTA Secures Majority Shareholder Approval for 29.06% Puma Stake Acquisition
Feb 13, 2026
ANTA Sports Products has confirmed that written shareholder approvals have been secured for its previously announced acquisition of a 29.06% equity interest in Puma SE, allowing the deal to proceed as a major transaction without convening a genera...
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.