No Mud Will Stick on Anta, Fair Value Maintained At HKD 55
Narrow-moat Anta’s share price has fallen slightly following a series of short-selling reports from Muddy Waters. In three separate reports, Muddy Waters highlights Anta’s relationship with its distributors and an asset disposal transaction as red flags to Anta’s book of business. While we acknowledge there might be a close ties between the brand and its distributors, such a relationship does not post a threat to shareholder capital nor the company’s future returns. While the argument that Anta ...ANTA Sports Products is principally engaged in the manufacturing, trading and distribution of sporting goods, including footwear, apparel and accessories, in the People's Republic of China. As of Dec 31 2014, there were 7,662 ANTA Stores, 1,228 Kids sportswear series stores and 519 FILA stores in China, Hong Kong and Macao.
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