【银河纺服郝帅】公司深度丨安踏体育 (2020.HK):多品牌体育龙头,本土崛起布局全球

中国银河证券研究
Jul 13, 2025

【报告导读】1.多品牌体育龙头,本土崛起至全球布局。2.安踏主品牌多元发展,渠道质量不断优化。3.多品牌、全球化布局,户外板块贡献增量。核心观点多品牌体育龙头,本土崛起至全球布局:安踏体育是全球知名的体育服饰用品公司。旗下品牌涵盖包括安踏、FILA、Descente、Kolon Sport等品牌,以及Amer Sports旗下的Salomon、Arc'teryx、Peak Performance等...

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