Anta is a largest sportswear brand of China.
Anta has grown into a hk $150 bilion listed company and the world's third-largest sportswear brand after Nike and Adidas.
In 2019, Anta's total revenue increased 21.8 percent year-on-year to CNY 17.45 billion, FILA's total revenue increased 73.9 percent year-on-year to CNY 14.77 billion, and other brands' total revenue increased 33.3 percent year-on-year to CNY 1.71 billion.
Anta is growing fast: it surpassed big brother Lining in 2012, and has maintained double-digit growth since 2014, with revenue exceeding CNY 10 billion in 2015 and market value exceeding 200 billion Hong Kong dollars in 2019, significantly surpassing Adidas.
It is estimated that the company's net profit from 2020 to 2022 is CNY 67.46, 83.80 and 10.12 billion, respectively, with EPS of CNY 2.43, 3.01 and 3.64, and PE of 21.74, 17.5 and 14.49 times, respectively
The company is now valued at 25.1 times earnings, or 1.2 times PEG, which is very attractive. we reduced forecast of diluted earnings per share for fy19/20/21 by 8.8%/ 1.3%/ 0.1% to reflect 1) An increase in the number of fully diluted shares 2) immediate repayment of eur 500 million debt upon issuance of convertible bonds by the company