Investors seem skeptical about Topsports International Holdings' future performance due to declining ROCE and stock price. Despite reinvestment, it may take time to see earnings change. The company doesn't seem to have multi-bagger potential.

Despite average growth expectations, the high P/E ratio indicates investors are willing to pay a premium. However, expected earnings growth likely to exert downfall pressure on share price. Current high share price may be unjustifiable considering the predicted future earnings.

Topsports International Holdings's reinvestment in business is concerning due to shrinking returns and lack of traits of a multi-bagger. Declined stock by 35% over the last three years implies a lack of investor optimism.

Key takeaways：
1. Search Index: sports brands by the hot spot decreased and fell, Bosideng and Jiangnan Cloth have improved.
(1) In terms of sports brands: with the winter Olympic fever gradually faded, most brands' heat YoY and QoQ are down, including June international brands decline better than domestic brands, Anta June heat decline fell 50% YoY to 2844, Li Ning June heat fell 14.1% YoY to ...

Key takeaways：
1. Search Index: sports brands by the hot spot decreased and fell, Bosideng and Jiangnan Cloth have improved.
(1) In terms of sports brands: with the winter Olympic fever gradually faded, most brands' heat YoY and QoQ are down, including June international brands decline better than domestic brands, Anta June heat decline fell 50% YoY to 2844, Li Ning June heat fell 14.1% YoY to ...