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adidas AG

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研報掘金丨海通國際：首予華利集團“優於大市”評級，目標價60.9元

巴普蒂斯塔研究有限責任公司（Baptista Research LLP）啓動對阿迪達斯股份公司（Adidas AG）的研

【中信證券：運動鞋服行業迴歸穩健增長頭部品牌凸顯韌性】中信證券研報稱，運動鞋服行業在經歷了過去幾年的疫情衝擊、消費環境波動後，2024年迴歸穩健增長軌道，其中各主要國內運動公司聚焦高質量經營，交出了穩健的業績答卷，同時在經營端發力性價比產品，並進一步加大渠道結構優化力度。放眼國際品牌，Nike全球業務仍在調整，但Adidas及部分小眾細分品牌仍處在勢能向上的軌道中。展望2025年，國際品牌大中華區渠道庫存有望於上半年逐漸觸底，帶來折扣及行業競爭力度的改善。同時各公司對2025年展望積極穩健，伴隨消費環境與政策預期逐步明朗，各公司有望在銷售端逐步實現企穩復甦。目前運動板塊公司估值普遍回落到歷史較低位置，而從1年維度和更長期維度看，運動仍是兼具高景氣和清晰格局的優質消費賽道。

Adidas推出基於Sui鏈的Xociety遊戲NFT盲盒

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