Bank of China International: Lowered the target price of Xtep International (01368) to HK$4.3, sales in the first half of the year fell short of expectations.

According to the Zhitong Finance and Economics App, Bank of China International released a research report stating that ANTA Sports (01368) Second quarter operating data was weaker than expected, with core ANTA brand and Saucony recording mid- single-digit yoy declines and low single-digit yoy increases, respectively, both below the bank's expectations. Bank of China International decreased its earnings forecast for ANTA for the years 2026 to 2028 by 2% to 3% to reflect the weak retail sales in the second quarter and the de-leveraging impact of physical retail operations, with the target price lowered from HK$5 to HK$4.3, and a "buy" rating.