Jinwu Financial News | The Hang Seng Index closed at 24,825 on Friday (18th), up 326 points or 1.3%. The total market turnover for the day was 238.6 billion HKD. The National Index rose 1.5%, closing at 8,986; the Tech Index climbed 1.7%, closing at 5,538. UNITED LAB (03933) narrowly defended the placement price, dipping as low as 14.22 HKD, down 7.5%, and closing at 14.58 HKD, a decrease of 5.2%. Major shareholder KINGBOARD HLDG (00148) placed a maximum of 78.5 million shares of KB LAMINATES at 10 HKD each, with KB LAMINATES falling 9.2% to 9.84 HKD; KINGBOARD also dropped 1.8%, closing at 24.55 HKD. The best-performing blue chips of the week were China Resources Pharmaceutical (01177), CSPC Pharmaceutical (01093), and Hansoh Pharmaceutical (03692), with respective weekly increases of 16.4%, 15.7%, and 14.5%; the worst performers were HAIDILAO (06862), XINYI SOLAR, and XINYI GLASS (00868), with respective weekly declines of 5.1%, 4.1%, and 3.9%.
The Dow Jones closed at 44,342 points on Friday (18th), up 229 points or 0.52%; the S&P 500 fell 0.01% to 6,296 points; the Nasdaq turned up 0.05% to 20,895 points; it was reported that Railroads operator Union Pacific is in talks to acquire smaller competitor Norfolk Southern, leading to Norfolk’s stock price closing up 2.6%, while Union Pacific fell 1.2%. Streaming giant Netflix exceeded expectations in the last quarter but did not meet the most optimistic market forecasts, dropping its stock price by 5.1%. Amazon has cut jobs in its cloud computing division, with reports suggesting hundreds of positions are involved, with stock prices fluctuating, eventually rising by 1%. Tesla rebounded 3.2%. Travelers jumped 1.6%, making it the strongest performing Dow component. The Asia-Pacific stock markets were mixed this morning (21st), with the Nikkei 225 Index currently at 39,819 points, down 82 points or 0.21%. The South Korean Composite Index is currently at 3,202 points, up 14 points or 0.44%. Hong Kong stocks have escaped the ‘bouncing’ pattern and are expected to surge to 25,000.
ANTA SPORTS (02020)
The group announced its operational performance for the second quarter and first half of 2025, showing steady growth overall. In the second quarter, ANTA SPORTS brand retail revenue recorded low single-digit growth, FILA achieved mid-single-digit growth, while other brands (excluding newly acquired brands) saw a more significant increase of 50-55%. Cumulative performance for the first half was impressive, with the ANTA brand showing mid-single-digit growth, FILA high single-digit growth, and other brands growing strongly by 60-65%, including DESCENTE growing over 40%, KOLON and MAIA ACTIVE each growing by 30%. The effectiveness of the group’s multi-brand strategy was significant, with FILA’s core range growing high single-digit in the second quarter, while children’s and trendy brands growth ranged from mid-single-digit to low double-digit. The e-commerce channel performed outstandingly, although discount intensity increased by 2 percentage points, inventory levels remained healthy, with a sales-to-inventory ratio of about 5 months. New brand performance exceeded expectations, with DESCENTE growing over 40%, KOLON over 70%, and MAIA ACTIVE over 30% in the second quarter, leading to an overall growth of nearly 65% in the first half. The group recently completed the acquisition of the Jack Wolfskin brand and appointed former Amer Sports Greater China General Manager, Yao Jian, as Global President, further improving its outdoor market layout. In the short term, the strong performance of FILA and new brands can offset the fluctuations during ANTA brand’s adjustment period; in the medium to long term, there is optimism about the synergistic effects of its multi-brand matrix, combined with refined operations and global market expansion, which shows promising growth potential. Target Price $106.3, Stop-loss Price $87.45.
(The author does not hold the aforementioned shares)
Dr. Tang Shengxing, Chairman of the Hong Kong Stock Analysts Association.
