We Remain Confident in Anta Despite Muddy Waters’ New Report; Profit Alert Boosts Sentiment
In response to Muddy Waters’ fifth short-selling report, Anta acknowledged its close relationship with one of its many suppliers and distributors, Peng Qingqi, and provided reasonable explanations behind low-single-digit margins generated by Peng’s manufacturing business. Through cherry-picking words used on Peng’s small-scale Tmall store, Muddy Waters presented, perhaps, some of the most unwarranted conclusions so far. We think these increasingly simple-minded conclusions demonstrate either the...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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