The Zhitong Finance App learned that Citi released a research report saying that Anta Sports (02020)'s growth in the third quarter of 2026 was better than expected. Management maintains guidance for the full year of 2026 and expects retail sales to improve in the fourth quarter compared to the third quarter. The bank maintains Anta Sports' “buy” rating, with a target price of HK$107.

In the third quarter, retail sales of other brands increased 25% to 30% year over year, higher than the bank's original forecast of 20% to 25%. Citi pointed out that retail sales gradually improved from October 1 to 7 compared to the third quarter. Among them, Anta grew by a single digit year over year, FILA grew by a lower double digit, and other brands grew by more than 20%. Management maintains guidance for the full year of 2026 and expects retail sales to improve in the fourth quarter compared to the third quarter.

Management said that the operating profit margin guideline of about 20% of Anta's business has been included in government subsidies. The subsidy accounts for about 4 percentage points of the operating profit margin, but there is still uncertainty about the amount and timing of the government subsidy in the second half of the year.

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