According to a research report by Interchange International, Anchap (02020.HK) last year's performance was in line with expectations and continued to increase its dividend rate. As for this year's outlook and guidance, the company will continue its multi-brand globalization strategy. At present, the differentiated layout of the main brand Anpaq store model has been shown to be effective, and the efficiency of the new store has been significantly improved. The FILA brand continues to cultivate competitiveness in niche areas, increasing penetration of high-end markets and young consumers. At the same time, the Southeast Asian market layout is expected to enter a phase of rapid development and will increase the expansion of the Middle East market. Management has set clear targets for overseas expansion, i.e. 15% overseas business contribution over 5 years. Through 2025, the company is guiding Enstep, FILA and other brands to achieve high single-digit, mid-single and more than 30% growth in total revenue by high single to double digits.
The line said sales were in line with the company's expectations at the beginning of the year to date, and the performance of high-end niche brands was similar to 2023. At the same time, the State Council's “Special Action Plan to Boost Consumption” mentioned several key tasks expected to give positive support to the sporting goods market. The bank raised the company's profit forecast, raising the target price from $104.28 to $113.3, maintaining a “buy” rating.
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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