9 stories mentioning HKG:6110Updated 16d ago
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Topsports International Holdings (HKG:6110) has an average rating of overweight and mean price target of HK$2.07, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Topsports International (HKG:6110) has an average rating of overweight and mean price target of HK$2.39, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Hong Kong stocks ended lower Wednesday as investors awaited earnings from major U.S. technology companies, while renewed trade concerns weighed on sentiment.The Hang Seng Index fell 239.63 points, or 1%, to close at 24,892.66, while the Hang Seng China Enterprises Index lost 109.61 points, or 1.3%, to finish at 8,251.07.Investors looked ahead to quarterly results from Alphabet and Tesla, with the reports expected to test whether AI-driven valuations can withstand heightened scrutiny after recent volatility in global technology stocks.Markets also monitored U.S. trade policy after President Donald Trump said imported generic drugs would remain tariff-free for two years from Aug. 1 before facing a 100% tariff for one year and a 200% tariff thereafter.In corporate news, Topsports International (HKG:6110) fell over 24%, and Pou Sheng International (HKG:3813) lost nearly 9% after reports that Nike will stop selling its products online through key Chinese retailers from January, shifting instead to its branded storefronts.Meanwhile, Zhongji Innolight (HKG:3308, SHE:300308) is seeking to raise up to HK$55.1 billion in Hong Kong's largest share sale since Alibaba's 2019 listing.
Chinese sportswear retailers faced a sharp selloff on Wednesday after Nike announced plans to overhaul its digital footprint in China, effective January 2027, terminating online sales partnerships for companies including Topsports International (HKG:6110) and Pou Sheng International (HKG:3813).Topsports and Pou Sheng received official notice from Nike that online sales of its products in mainland China will "terminate completely" starting in 2027, according to separate Hong Kong bourse filings on Wednesday.Near the close of the session, Topsports' stock plunged 24% to an all-time low, while Pou Sheng fell almost 9%, also trading near its lowest on record.Nike products accounted for about 22% of Topsports' revenue in the fiscal year ended Feb. 28, with the company saying it expects a "significant" negative impact, albeit short-term. Topsports also said it will continue working with Nike on offline sales arrangements.Pou Sheng, meanwhile, said Nike made up 15% of total revenue for 2025, with an "insignificant" contribution to group profit.Under Nike's revised plan, the sportswear maker will exclusively sell its products on its official Tmall, JD.com (HKG:9618) and Douyin storefronts."This is not about reducing access. It is about reducing fragmentation and strengthening the consumer journey. When the experience is consistent, the brand becomes stronger," Cathy Sparks, Nike's vice president and general manager for Greater China, said in a statement.Jefferies analysts noted that while the move strengthens Nike's direct-to-consumer ecosystem and pricing discipline, the transition will create short-term headwinds for wholesale business volumes across China.
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.
Topsports International Holdings (HKG:6110) has not received any official notice from Nike about canceling their online distribution deal in mainland China amid reports.The Hong Kong-listed sportswear retail operator, which made the Thursday disclosure to address online speculation that its first-tier online distributorship authorizations will be terminated from Jan. 1, 2027, added that it and Nike explore "various aspects of their business cooperation from time to time."Topsports, which halted trading Thursday to make the announcement, applied to resume trading in Hong Kong from 9 am the next day.
Topsports International (HKG:6110) recorded a low-teens drop in total retail and wholesale sales in the first fiscal quarter ended May 31, according to a Thursday Hong Kong bourse filing.As of May 31, the gross selling area of directly-operated stores slipped 11.2% year over year.
Topsports International Holdings (HKG:6110) has an average rating of overweight and mean price target of HK$3.56, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Topsports International (HKG:6110) posted profit attributable to equity holders of 1.27 billion yuan for the year ended Feb. 28, down from 1.29 billion yuan a year earlier, according to a Wednesday Hong Kong bourse filing.Shares of the sportswear manufacturer were up over 12% in Thursday's late morning trade.Earnings per share came in at 0.2043 yuan, compared with 0.2074 yuan in the prior fiscal year.Revenue fell 4.7% to 25.7 billion yuan from 27 billion yuan a year earlier.The board recommended a final dividend of 0.03 yuan per share and a special dividend of 0.12 yuan per share.Separately, the company said total sales from retail and wholesale operations recorded a low-single-digit year-on-year decline in the fiscal fourth quarter.Gross selling area of directly operated stores fell 4.2% from the previous quarter and declined 9.7% on a year-on-year basis.
