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Hong Kong stock abnormality | Today, sporting goods stocks have rebounded, and the Olympic economy continues to heat up, with China's sports brands accelerating their overseas expansion.
Sporting goods stocks rebounded today. As of press time, Topsports (06110) rose 3.73% to HKD 3.34; 361 Degrees (01361) rose 3.68% to HKD 3.38; Yue Yuen Ind (00551) rose 2.01% to HKD 12.2; Xtep Int'l (01368) rose 1.9% to HKD 4.82.
Hong Kong Viable Stock – China Unicom (Hong Kong), 361 Degrees International
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.
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