Sporting Goods Shares Strengthened, XTEP International Shares Rose More Than 5%

On October 15th, sporting goods shares strengthened, XTEP International (4.83,0.25, 5.46%) rose 5%, 31 degrees (1.76, 0.04, 2.33%), Anta sports (71.7, 1.65,2.36%) rose by over 2%, and Lining (26.4, 0.55, 2.13%) rose 1.55%.

Hui Li securities released Research Report: to XTEP overweight rating, given a forecast earnings ratio 18 times, target price of 5.15 yuan. At the same time, the state policy supports the development of China's sports industry. The general office of the State Council recently issued a series of strategic tasks to build the outline of sports power. In 2035, the target became a pillar industry of the national economy. The proportion of regular participation in physical training was over 45%. In 2050, it became a sports power. The people's health and health level, sports comprehensive strength and international influence were among the highest in the world.

And according to the report of the second of the total retail sales in 2018, the retail sales volume of the sports shoes and clothing retail market is 12.8% in the past five years, and is expected to reach a compound annual growth rate of 10.7% in 2023.

XTEP's revenue increased by 23% in the first half of the year, mainly driven by sales, and ASP grew by 3 to 5%. It is estimated that with the upgrading of products, the ASP will increase by 3 to 5% every year. From 7 to August, the growth of retail sales followed the first half trend and slowed down slightly in September. It is estimated that the retail sales will be affected by the warmer weather.

　　 Big sports optimistic about sporting goods concept

In the past eleven golden weeks, the sporting goods industry ushered in the peak season of consumption. Many big sports companies are optimistic about sporting goods.

Mo Tong said, maintaining "overweight" mainland sporting goods unit preferred Lining. The "overweight" rating was given to HK $26, followed by Anta, with the target price of HK $78 and HK $6.6 respectively.

Credit Suisse also listed Lining as the industry's first choice.

According to Credit Suisse's latest research report, the average weekly clothing prices of all sports brands rose from the first week of July to the end of September. Nike average price rose 30%, Adidas increased 11%, Fila increased 14%. Lining, XTEP and Anta rose 7% and 5% respectively.

Credit Suisse said that because of the positive trend of online shopping, plus the results of channel inspection, the target price of Lining rose from 23.6 Hong Kong dollars to HK $26.3, the rating outperformed the market and was the first choice for the industry.

Lining also received Morgan Stanley's target price increase, adjusted from 22 yuan to 29.2 yuan, and the investment rating was adjusted from flat to overweight.

Sports shoes wear the highest scenery.

CITIC Securities (15.28, -0.18, -1.16%) said that sports shoes and clothing, the space is wide, business continuity.

CITIC Securities recently reported that the sports shoes and clothing market is one of the few apparel industries with large scale, high growth and high concentration. It is also a key link in the sports industry chain. The Chinese sports market has experienced three stages of development and continues to boom.

The Hong Kong stock sporting goods industry mainly includes Anta, Lining, 31st degree and XTEP international.

8 to achieve positive returns

From the perspective of industry development, the total scale of the national sports industry in 2018 was 2 trillion and 400 billion yuan, an increase of 9.09% over the same period last year, and the added value was 880 billion yuan, an increase of 12.82% over the same period last year. According to the 13th Five-Year plan of sports industry, by 2020, the total scale of sports industry is over 3 trillion, and the number of employees is over 6 million.

Sports industry includes sports noumenal industry, sports peripheral industry, sports intermediary industry and sports industry consumer.

The sports noumenon industry is the core of the whole sports industry, including sports competition and mass fitness industry; the industry chain of sports peripheral industry includes sporting goods providers, sports equipment providers, sportswear operators, sports tourism providers, sports betting providers and sports builders. Sports industry chain includes sports advertisers, sports sponsors and sports insurance industry.

With the launching of the preparations for the 2022 Winter Olympic Games and the vigorous advocacy of the state, the ice and snow sports boom has begun to rise. This has also brought great opportunities to the development of the ice and snow industry in China, especially in the Beijing Tianjin Hebei region.

Wind sports concept mainly involves: sporting goods manufacturers, sports events sponsorship and operators, professional clubs and other related enterprises.

Since 2019, 29 A share stocks have risen 23, and 8 of them have realized positive returns.

Industrial chain distribution of listed companies

The sports industry is a trillion level consumption blue ocean with the high certainty of long-term investment. At present, the added value of sports industry accounts for only about 1% of GDP, and the growth of 2%-3% in the developed countries is huge. It is estimated that the total output of sports industry will exceed 5 trillion yuan in 2025, and the potential market space in sports goods, sports equipment and equipment will be large.

In the past two years, the sports industry has opened the door to industrialization under the policy support, and capital has been accelerating. At present, the relevant companies have all layouts in all aspects of the industrial chain, and the following will enter the actual operation stage. There are many opportunities, but challenges and risks also exist.