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Hong Kong stocks are fluctuating | Topsports (06110) rose more than 9% in the morning. Nike's new product plan is expected to drive an operational turnaround. The company is highly dependent on Nike.
TopSports (06110) surged more than 9% in early trading. As of the time of writing, it is up 7.39%, trading at HKD 2.47, with a turnover of 0.106 billion Hong Kong dollars.
Declining Stock and Decent Financials: Is The Market Wrong About Topsports International Holdings Limited (HKG:6110)?
TOPSPORTS: INTERIM REPORT 2024/25
Bocom Intl: Downgrade topsports rating to 'Neutral' with target price cut to 3.06 Hong Kong dollars
Bocom Intl released a research report stating that considering the continued pressure on current customer traffic, it has lowered the financial estimates for Topsports (06110). The target price has been reduced to 3.06 Hong Kong dollars, with a potential upside of 14.1%, based on a 11x PE ratio for the 2025-26 fiscal year. The rating has been downgraded from 'buy' to 'neutral'. The report points out that due to the pressure on customer traffic this year, revenue in the first half of the fiscal year dropped by 7.9% year-on-year. The gross margin decreased by 3.6 percentage points year-on-year, mainly due to deepening discount rates and an increase in the proportion of low-gross-margin wholesale channels. The net margin declined by 2.7 percentage points year-on-year to 6.7%. The mid-term dividend payout ratio reached 99.
Some May Be Optimistic About Topsports International Holdings' (HKG:6110) Earnings
[HK Stock Connect] Topsports (06110) fell by 4.18%. Citi reiterates a target price cut of 10.7%, expecting poor prospects in the second half of the year.
Golden Finance News | Topsports (06110) stock price declined, as of the time of publication, down by 4.18% to HKD 2.75, with a turnover of 45.28 million Hong Kong dollars. On the news front, CICC issued a research report stating that Topsports' performance in the first half of the 25th fiscal year met expectations. Sales decreased by 8% year-on-year to 13.1 billion yuan, net income decreased by 35% year-on-year to 0.874 billion yuan, consistent with the previous profit warning. In addition, the gross margin fell to 41.1% (a decrease of 3.6 percentage points year-on-year), far below the bank's expectations, but offset by cost savings from more store closures. The bank downgraded Topsports' rating to 'hold'.
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