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ADIDAS AG

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256.825 EUR   -1.84%
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adidas : Xinjiang-born Chinese basketballer punished for signing with Adidas

10/15/2021 | 04:38am EST

A star basketball player in China's professional league who was born in the far-western Xinjiang region has been punished by his team after signing a commercial contract with German sports brand Adidas AG, Chinese media have reported.

Earlier this year, Adidas expressed concern over human rights conditions in Xinjiang, where many democratic countries have accused the Communist-led government of detaining Muslim Uighurs who oppose growing state surveillance under its "re-education" campaign.

After signing with the sports brand, Hu Mingxuan, a 23-year-old member of Guangdong Southern Tigers, said in his social media account in September that he is "very happy to join the Adidas family."

Chinese media said the financial punishment for Hu has "set an example" to other basketball players in the nation.

==Kyodo

© Kyodo News International, Inc., source Newswire

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Financials
Sales 2021 21 422 M 24 259 M 24 259 M
Net income 2021 1 616 M 1 830 M 1 830 M
Net cash 2021 451 M 511 M 511 M
P/E ratio 2021 33,7x
Yield 2021 1,25%
Capitalization 50 131 M 56 773 M 56 770 M
EV / Sales 2021 2,32x
EV / Sales 2022 2,10x
Nbr of Employees 54 722
Free-Float 90,7%
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Number of Analysts 31
Last Close Price 261,65 €
Average target price 323,29 €
Spread / Average Target 23,6%
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Managers and Directors
Kasper Bo R°rsted Chief Executive Officer
Harm Ohlmeyer Chief Financial Officer & Labor Director
Thomas Hermann Rabe Chairman-Supervisory Board
Martin Shankland Head-Global Operations
Roland Nosko Member-Supervisory Board
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