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Xtep International Holdings Insiders Added CN¥64.0m Of Stock To Their Holdings
In the last year, multiple insiders have substantially increased their holdings of Xtep International Holdings Limited (HKG:1368) stock, indicating that insiders' optimism about the company's
[Brokerage Focus] Caitong maintains a "shareholding" rating for Xtep International (01368), suggesting that its profits may be less affected after KP's spin-off.
Caitong Securities released a research report stating that Xtep Int'l (01368) announced its 2024 Q2 and H1 operational data. In 2024Q2, Xtep's main brand's omnichannel revenue increased by 10% YoY, with discounts of about 25%, and in H1, the omnichannel revenue of Xtep's main brand increased by high-double digits YoY, with a channel inventory turnover of about 4 months. The bank pointed out that the company's online performance is outstanding, while offline performance may be affected by adverse weather conditions. In terms of channels, in Q2, online revenue increased by 25% YoY, with group e-commerce GMV during the 618 period increasing by 50%+ YoY and Xtep's main brand e-commerce GMV increasing by 40%+ YoY, showing an improvement in online growth rates.
Hong Kong stock market concept tracking: With the Olympic opening ceremony approaching, the sports footwear and apparel industry benefits from the "Olympic consumer" trend. (List of concept stocks)
At 1:00 pm local time on July 14th, the 2024 Paris Olympic torch began to be relayed in Paris. The relay in Paris will last for two days.
Changjiang Securities: Xtep Int'l's Q2 2024 revenue performance meets expectations, maintains a "buy" rating.
According to a research report released by Changjiang Securities, Xtep International (01368) maintains a 'buy' rating. Taking into account that KP has not yet been divested, it is estimated that the net profit attributable to the parent company will be 1.17 billion, 1.33 billion, and 1.48 billion yuan in 2024-2026, with a year-on-year growth of 14%, 13%, and 12% respectively. The company released retail data for 2024Q2, showing that Xtep's main brand revenue increased by about 10% year-on-year, with a 25% discount, a stock-to-sales ratio of about 4 months, and the revenue performance was in line with expectations. Looking ahead, the company's inventory and discounts will return to a healthy level, and there is still room for optimizing the gross margin and A&P expense ratio of the main brand of professional sports brands to continue.
Xtep accelerates to fight in lightweight gear.
If you don't advance, you retreat.
[Brokerage Focus] Sealand maintains a "buy" rating for Xtep Int'l (01368), indicating that its new brand's market share is expected to continue to expand.
Sealand Securities issued a research report, indicating that in Q2 2024, xtep int'l (01368) main brand retail sales increased by 10% year-on-year (high double-digit growth in Q1 2024), with accelerated growth on a month-on-month basis. The bank expects this growth to be mainly driven by e-commerce channels, and the online sales growth was positively driven by the release of the cost-effective carbon board running shoes 360X in March. As for offline channels, the bank determines that the rainy weather in some areas in Q2 has led to weak customer flow to the company's offline stores and has affected same-store growth. Regarding retail discounts, the bank expects the Q2 discount to improve to about 75% compared to the previous quarter (about 70-75% in Q1 2024).
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