交银国际发表报告指，滔搏首季经营符合预期，维持全年利润持平的指引。根据公司公告，2026财年第一季公司零售及批发业务的总销售额按年下滑中单位数，延续了上一季度的趋势，符合公司预期。展望未来几个季度，该行认为体育用品市场仍未出现明显恢复动力，行业促销环境仍将持续。该行下调2026至2027财年的净利润预测22%，下调目标价至2.98港元，对应2026财年市盈率13倍，维持“中性”评级。 该行认为未来几个季度销售恢复速度可能较为缓慢，折扣水平短期内或难以收窄。该行下调2026和2027财年收入预测6%及8%，各至258.6亿及267.2亿元，并降低2026财年及2027财年的净利率预测0.9-1个百分点，预测2026财年至2028财年净利润为13亿至15.3亿元。
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