Sportswear stocks have extended their recent rally, with 361 Degrees (01361) rising 5.95% to HK$4.9, Li Ning (02331) gaining 4.07% to HK$13.3, Anta Sports (02020) up 3.45% to HK$78.05, and Topsports (06110) climbing 2.87% to HK$1.075 as of press time.

On the news front, on September 30, the General Office of the State Council issued the "Opinions on Developing Sports Events to Stimulate Consumption Vitality," outlining 17 major tasks across five areas: strengthening the supply of sporting events, deepening integrated development of events, stimulating event consumption vitality, consolidating the foundation for event development, and improving management and support capabilities. The document proposes that by 2030, a modern event system with Chinese characteristics will be basically established, and a batch of sports events with global influence will be cultivated.

Wanlian Securities noted that event marketing amplifies brand premiums, and the sportswear industry is entering a phase of scaling and consolidation. The 2026 major event cycle is concentrated, with the Milan Winter Olympics, the US-Canada-Mexico World Cup, and the Nagoya Asian Games all converging, forming a core marketing window for the industry. However, the transition from event-driven brand exposure to actual performance realization requires waiting for the conversion of audiences from spectators to participants, and there is a clear lag in revenue recognition.