ANTA Sports Products Ltd

02020: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HK$774.00	Rjjfvw	Fwncwgzm

Anta Delivered Strong, Better-Than-Expected Sales in Second-Quarter 2022; Shares Undervalued

Ivan Su

Jul 12, 2022

Narrow-moat-rated Anta reported second-quarter 2022 retail sales numbers above our estimates. Most notably, Fila outperformed our expectations despite severe lockdowns in parts of China. Even though management did not provide any near-term guidance, they indicated that sales resumed growth in June. Considering Anta’s better-than-expected second-quarter performance, we slightly tune up our forecasts for 2022, but maintain longer-term assumptions unchanged.

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