Anta Announces Order Performance In The Fourth Quarter Of This Year And First Quarter Sales Increase

< p > Anta announced the order performance in the fourth quarter of this year and the growth of the same store sales in the first quarter. It also indicated that the order of the fourth quarter of the order decreased, but its performance has improved over the first three quarters. The broker thinks the number is not accurate, indicating that Anta is in recovery.

Nonetheless, the news prompted Anta to make a good share price, rising more than 9% yuan to see 7.45 yuan.

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< p > as for other sporting goods shares, China's trend, Lining and XTEP rose by 3.8% to 4.9% respectively.

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< p > < strong > Goldman Sachs: low base number < /strong > < /p >

< p > according to Anta, according to the new wholesale discount rate policy, the amount of orders in the fourth quarter (calculated at wholesale value) recorded a decrease of about 5 to 15% in the year.

As for the first quarter, the same store sales growth was flat compared with the same period last year.

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< p > although the order volume decreased by 20% from the first 3 quarters to 5 to 10% in the fourth quarter of this year, Goldman Sachs considered that this is a low base number. If the order amount was compared with the quarter of 2011, the order in the fourth quarter of this year was 20% lower than that in the fourth quarter of 2011, while the order amount in the first quarter of this year dropped by 14% compared with the first quarter of 2011. Therefore, the figures were not considered as a sign of demand recovery, and also a prudent view of the mainland sporting goods industry. Anta's "selling" rating and target price remained unchanged.

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< p > < strong > Mo Tong: multiple problems need time to solve < /strong > < /p >

< p > Mo Tong also believes that because the retail atmosphere is weak and the discount is still high, and the pipeline inventory is at a high level, it is considered that it needs to be resolved. Therefore, it is still too early to maintain the "reduction" rating for Anta.

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< p > as for China International Finance, the order amount in the 4 quarter of this year fell by 25%, 20%, 15% and 10% respectively, confirming that its financial performance declined this year. It is estimated that Anta's revenue decreased by 18.9% and 19% respectively in the current and the next two years, with a forecast earnings of 0.38 yuan and 0.27 yuan per share, maintaining the "selling" rating and the target price of 4 yuan.

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< p > < strong > Deutsche: 2014, the first season is the guideline for recovery, < /strong > < /p >

< p > in the first quarter of the same store sales growth, Deutsche Bank index is better than expected, because the company has been guiding 1 and February sales will be negative growth.

The bank said that due to the retail slack season in March, the improvement was mainly driven by new products and franchisees' favorable atmosphere due to a drop in inventories.

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Looking forward to the future, Deutsche Bank expressed the hope that the good start of Anta's first quarter is not temporary and expects better data in the coming quarter, especially in the first quarter of 2014. This will be regarded as the main guideline for the recovery, maintaining the "holding" rating with a target price of 7.31 yuan.

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