Hong Kong stocks moving丨XTEP INT'L rose about 8% to reach a new high this month. The first quarter operations in mainland China met expectations and were Bullish on by multiple Institutions.

Global Hong Kong news on April 28 | XTEP INT'L (1368.HK) opened high and rose further, increasing by 7.96% to 5.29 HKD, reaching a new monthly high; trading volume stood at 93.4 million HKD, with the latest Market Cap around 14.7 billion HKD. In individual stocks, XTEP recently announced its operational status for the first quarter of its mainland China Business, reporting a mid-single-digit year-on-year growth in retail sales for its main brand (including online and offline channels); retail discount levels ranged from 70% to 75%; channel inventory turnover of about 4 months. Saucony continued to perform strongly, with retail sales (including online and offline channels) soaring over 40% year-on-year. JPMorgan believes that XTEP INT'L's first-quarter Company Business Data met expectations, and Saucony maintained the good momentum from last year. The report stated that XTEP's management revealed that overseas sales contributed less than 1%, with limited business share in the USA market, plus Saucony's supply chain mainly located in China and Southeast Asia, indicating that the impact of tariffs is minimal. The guidance for profit growth of more than 10% for the fiscal year 2025 remains unchanged, while the preparations for the direct-to-consumer (DTC) transformation are proceeding as planned. FIRST SHANGHAI also maintained a "Buy" rating on XTEP INT'L, noting that the first-quarter performance met expectations and remains Bullish on the group's long-term development. Moreover, in the Industry sector, the Sports sector is benefiting from favorable policies, with investment opportunities gradually emerging. Recently, nine departments including the Ministry of Commerce jointly issued the "Service Consumption Quality Improvement and Benefit Action 2025 Work Plan," proposing 48 specific tasks and measures in six areas centered around strengthening policy support and promoting activities, covering key Industry fields such as sports events. Zhao Chenxin, Vice Minister of the National Development and Reform Commission, stated today that as the world's second-largest economy and a country with over 1.3 billion people, there is great potential and space for expanding domestic demand. In addition to durable consumer goods, the demand for service consumption in cultural entertainment, tourism, and Sports is also significant. (Global Hong Kong news)