Goldman Sachs released a research report stating that ANTA SPORTS (02020) delivered interim core operating profit and net profit that both exceeded expectations. Management adjusted the ANTA core brand sales guidance to mid-single digit growth while maintaining the full-year guidance for the Fila brand. The firm raised ANTA's target price from HK$117 to HK$121 and reaffirmed its conviction "buy" rating.

Goldman Sachs believes that ANTA management's commentary was not beyond investor expectations. The firm noted that the interim results reflect the successful execution of ANTA's multi-brand strategy. The company will prioritize investment in existing businesses while actively exploring acquisition targets to complement its current portfolio, maintaining a stable dividend payout ratio and share buyback program. Goldman expects sales and earnings visibility to improve and remains optimistic about sustainable market share growth.