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Topsports to End Online Nike Sales in China From 2027; Shares Plunge 24%

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Topsports International (HKG:6110) said its authorization to sell products from Nike through online channels in mainland China will end on Jan. 1, 2027, according to a Wednesday Hong Kong exchange filing.

It expects the move to have a significant short-term negative impact, as online sales of Nike products contributed about 22% of the group's total revenue in the financial year ended Feb. 28.

Topsports said it remains committed to working closely with Nike on offline sales arrangements on a mutually beneficial basis.

Shares of the company were down nearly 24% in recent trade.

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