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    2020   KYG040111059

ANTA SPORTS PRODUCTS LIMITED

(2020)
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Chinese Sports Companies Jump on Mass Fitness Program

08/03/2021 | 10:59pm EDT

By Yongchang Chin

Shares of Chinese sporting-goods companies rallied Wednesday after Beijing unveiled details of a mass fitness program as part of its 14th five-year plan.

Hong Kong-listed Anta Sports Products Ltd. was up 5.4% by the midday break at 183.20 Hong Kong dollars, taking year-to-date gains to 49%. Li Ning Co. and Pou Sheng International Holdings Ltd. gained 8.4% and 3.8%, respectively.

Chinese officials said late Tuesday that the country aims to grow its sports industry into a 5 trillion yuan ($772.75 billion) sector, and that it plans to add or expand more than 2,000 sports venues including sports parks, fitness centers and stadiums by 2025.

It also set a goal to raise the number of people who regularly exercise to 38.5% of its population, from 37.2% before the start of the current plan, to tackle health issues like obesity.

Other measures unveiled include requiring students to spend an hour a day each in school and outside school on sports activities, as well as moving to integrate its sports and tourism industries to increase the supply of sports amenities and services.

U.S. bank Jefferies estimates that the goal to expand the sports industry implies a compounded annual growth rate of 9.4%. It has buy ratings on Li Ning and Pou Sheng.

"We believe there is huge room for future growth for Anta and Li Ning," said Lei Yang, executive director of China research at China Galaxy International Financial Holdings Ltd.

Write to Yongchang Chin at yongchang.chin@wsj.com

Corrections & Amplifications

This story was corrected at 0647 GMT. The earlier version incorrectly said students would be required to spend an hour a day on sports activities.

(END) Dow Jones Newswires

08-04-21 0059ET

Stocks mentioned in the article
ChangeLast1st jan.
ANTA SPORTS PRODUCTS LIMITED 3.09% 156.7 End-of-day quote.27.50%
LI NING COMPANY LIMITED 5.48% 104.9 End-of-day quote.96.81%
POU SHENG INTERNATIONAL (HOLDINGS) LIMITED -2.14% 1.37 End-of-day quote.-25.54%
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Analyst Recommendations on ANTA SPORTS PRODUCTS LIMITED
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Financials
Sales 2021 48 710 M 7 534 M 7 534 M
Net income 2021 8 202 M 1 269 M 1 269 M
Net cash 2021 8 452 M 1 307 M 1 307 M
P/E ratio 2021 43,2x
Yield 2021 0,81%
Capitalization 352 B 54 439 M 54 436 M
EV / Sales 2021 7,05x
EV / Sales 2022 5,58x
Nbr of Employees 47 000
Free-Float 42,2%
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Mean consensus BUY
Number of Analysts 36
Last Close Price 130,19 CNY
Average target price 161,32 CNY
Spread / Average Target 23,9%
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Managers and Directors
Shi Zhong Ding Chairman & Chief Executive Officer
Shi Xian Lai Chief Financial Officer & Executive Director
Zhong Chuan Dai Independent Non-Executive Director
Kin Wah Yiu Independent Non-Executive Director
Hin Wing Lai Independent Non-Executive Director
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