ANTA Sports Products Ltd

02020: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HK$789.00	Mmfkqcc	Qhzmbkpt

Anta Earnings: Strong Profitability but Low Dividend Payout Not Satisfactory

Ivan Su

Aug 23, 2023

Narrow-moat Anta delivered strong first-half 2023 earnings, featuring revenue up 14% year over year and adjusted operating profit up more than 40%. While these numbers are ahead of Refinitiv consensus estimates, they are in line with our forecasts. Management maintained its 2023 guidance while acknowledging weaker sales in July and August.

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