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安踏体育（02020）早盘涨近3%，截至发稿，股价上涨2.48%，现报74.25港元，成交额1.98亿港元。
近日，安踏体育宣布完成以15.1亿欧元收购Puma 29.06%股权，成为其最大股东。花旗预计，安踏体育管理层将在第三季度零售销售电话会议上，就未来Puma中国业务的战略蓝图提供实质说明。该行对安踏完成交易后可能整合Puma中国零售及分销业务持正面看法。
里昂表示，完成交易为安踏集团旗下品牌再增加一个全球性品牌。目前Puma大中华区销售仅占其总销售额约7%，远低于全球运动服饰同业的17%至30%，仍有提升潜力。里昂认为，Puma第三及第四季度销售可持续改善，下半年毛利率同比扩张，目前该行预计安踏体育2026至2028年经调整净利润年均复合增长率约为12%。
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