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[Brokerage Focus] Ping An International maintains TOPSPORTS (06110) 'Buy' rating, anticipating that the price increase potential in 2025 is much greater than the downside risk.
Jingwu Financial News | According to the research report released by浦银国际, the bank expects TOPSPORTS (06110) to experience a year-on-year revenue decline of low single digits in December, with the decline narrowing compared to 3QFY25 (September to November 2024). Additionally, the revenue performance in the first two weeks of January this year has shown further improvement compared to December last year. This suggests that the revenue performance for 4QFY25 so far has been better than the company's previous expectations, and the full-year revenue performance for FY25 is expected to outperform the management's guidance (high single-digit year-on-year decline). The bank believes the positive revenue trend is largely attributable to the company's relatively successful promotion strategy.
The Five-year Shareholder Returns and Company Earnings Persist Lower as Topsports International Holdings (HKG:6110) Stock Falls a Further 4.5% in Past Week
【Brokerage Focus】Changjiang Securities maintains a "Buy" rating on TOPSPORTS (06110), indicating that the company's retail performance slightly exceeded expectations.
Jingu Financial News | Changjiang Securities released a Research Report stating that TOPSPORTS (06110) published its retail data for FY2025 Q3 (September-November). The Q3 revenue showed a single-digit decline year-on-year, but significant improvement compared to Q2 (which showed a decline in the low double digits). Q3 continued to reduce inventory, discounts deepened year-on-year, but the inventory reduction is expected to meet the company's expectations, with significant improvement in inventory anticipated by the end of the financial year. The report pointed out that the company's performance and valuation in the 2025 fiscal year are at the bottom, with the current FY2025 dividend yield at around 8% offering absolute return value. The retail performance in Q3 is trending positively, and inventory adjustments are in line with company expectations, allowing for a light start next year after improvements in inventory and gross profit.
Optimistic Growth and Strategic Inventory Management Drive Buy Rating for Topsports International Holdings Limited
Hong Kong stocks movement | TOPSPORTS (06110) fell nearly 4%, UBS Group expects its revenue and net profit for the fiscal year 2025 to decline by 7% and 38% respectively.
TOPSPORTS (06110) fell nearly 4%, as of the time of writing, down 3.82%, trading at 2.77 Hong Kong dollars, with a turnover of 31.9521 million Hong Kong dollars.
HAITONG SEC Textile Outfits Industry 2025 Annual Strategy Report: Steady Progress and Long-term Vision, Seizing Structural Opportunities.
Since 2024, the willingness to replenish inventory downstream has been good, coupled with a lower base from the same period last year, resulting in significant improvements in revenue. Along with an increase in orders and a continuous rise in capacity utilization, the profit elasticity continues to be released.
