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HK stocks are volatile | Sporting goods stocks are under pressure as Citigroup expects weak retail sales data in July and holds a cautious outlook for the industry's future.
Sporting goods stocks are generally under pressure. As of press time, Yue Yuen Ind (00551) fell 3.61% to HKD 12.3; Topsports (06110) fell 3.27% to HKD 3.17; Xtep Int'l (01368) fell 1.7% to HKD 3.62.
Returns Are Gaining Momentum At 361 Degrees International (HKG:1361)
Brokerage focus: Guosen Securities maintains its "outperform" rating on 361 Degrees (01361) and remains optimistic about its performance in the second half of the year.
Jinwu Financial News | According to Guoxin Securities Research and Development, on July 12, 361 (01361) announced retail performance for the second quarter of 2024. The 361 degree main brand recorded a positive 10% increase in offline retail sales, children's clothing brands recorded positive double-digit growth, and e-commerce platforms recorded positive growth of 30%-35%. According to this bank, looking at the breakdown of the company's turnover, offline: 361 degrees, a 10% increase in bulk goods, a double digit increase of children's clothing; online: 361 degrees, an increase of 30-35% online. E-commerce channel sales increased 94% year-on-year during the “618” promotion, ranking third among domestic brands and e-commerce channels
Changjiang Securities: The retail operation data of 361 degrees (01361) for Q2 2024 meets expectations, and a buy rating is given.
Changjiang Securities expects 361 degrees (01361) to achieve net income of RMB 1.14/1.35/1.59 billion from 2024 to 2026.
Maintaining a "buy" rating on 361 degrees (01361) with a target price of 6 Hong Kong dollars at Anxin International.
AXIN international forecasts an EPS of 0.56/0.64/0.72 yuan for 2024/2025/2026 in 361 degrees.
361 Degrees International Plans Board Meeting
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