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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  ANTA Sports Products Ltd    2020   KYG040111059

ANTA SPORTS PRODUCTS LTD

(2020)
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ANTA Sports Products : China's ANTA Sports rejects Muddy Waters allegation as 'incorrect'

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07/08/2019 | 11:23pm EDT
The logo of Anta Sports is seen on its product during a news conference in Hong Kong

HONG KONG (Reuters) - ANTA Sports Products Ltd on Tuesday rejected an allegation by U.S. shortseller Muddy Waters that the Chinese sports brand had manipulated financial information.

"The company vigorously denies the allegation and considers it to be incorrect and misleading," ANTA chairman Ding Shizhong said in a filing to the Hong Kong stock exchange.

Muddy Waters accused ANTA of using "secretly controlled Tier 1 distributors to fraudulently boost its margins".

ANTA's filing said "Each of the group's distributors has its own management team who make independent business decisions, and has its own financial and human resources management functions independent from that of the group, with no control over one another."

Muddy Waters did not respond immediately to an emailed request for comment on ANTA's filing.

On Monday, after Muddy Waters issued a report on ANTA, shares of China's largest home-grown sports brand by market value fell as much as 8.7% to a three-week low.

Trading in ANTA shares was suspended on Monday afternoon, at the company's request.

On Tuesday morning, trading resumed. At 0300 GMT, ANTA shares were down 0.9%.

Another short-seller, Blue Orca Capital, had cast doubt on ANTA's revenue in a presentation in May that ANTA dismissed as "inaccurate and misleading".

(Reporting by Donny Kwok; Editing by Richard Borsuk)

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Financials (CNY)
Sales 2019 30 584 M
EBIT 2019 7 475 M
Net income 2019 5 397 M
Finance 2019 9 798 M
Yield 2019 1,32%
P/E ratio 2019 26,1x
P/E ratio 2020 21,6x
EV / Sales2019 4,32x
EV / Sales2020 3,60x
Capitalization 142 B
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Technical analysis trends ANTA SPORTS PRODUCTS LTD
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 30
Average target price 53,42  CNY
Last Close Price 52,58  CNY
Spread / Highest target 26,8%
Spread / Average Target 1,60%
Spread / Lowest Target -19,0%
EPS Revisions
Managers
NameTitle
Shi Zhong Ding Chairman & Chief Executive Officer
Shi Xian Lai CFO, COO, Director & VP
Hong Te Lue Independent Non-Executive Director
Shi Jia Ding Deputy Chairman
Wen Mo Wang Executive Director
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