Daiwa released a research report stating that ANTA SPORTS (02020) first-half revenue and net profit exceeded market expectations by 1.5% and 3.2% respectively, with Descente and KolonSport showing better-than-expected growth momentum. The firm raised its earnings per share forecasts for 2025-27 by 3-4%, primarily reflecting revised profit guidance for Amer Sports. It reiterated a "Buy" rating and raised the target price from HK$112 to HK$117. Additionally, the group continues to demonstrate its acquisition appetite, recently announcing the establishment of a joint venture with leading Korean fashion platform MUSINSA to formally introduce this renowned retail brand into the Chinese market.