Stock Track | Topsports Plunges Over 5% as Weak First-Half Results Disappoint Investors

Stock Track10-24

Shares of Topsports International Holdings Ltd. (HKG:6110) plummeted by more than 5% on Wednesday, October 24, as the Hong Kong-listed sportswear company reported disappointing financial results for the first half of its fiscal year ended August 31, 2024.

The company's net profit attributable to shareholders nosedived 34.5% year-over-year to 873.8 million yuan ($123.2 million), while revenue for the six-month period also declined to 13.05 billion yuan, down from 14.18 billion yuan in the same period last year. Topsports further disclosed that its total sales for retail and wholesale operations in the second quarter registered a low-teens percentage decline compared to the previous year.

The weaker financial performance led Topsports to cut its interim dividend to 0.14 yuan per share, lower than the 0.16 yuan paid out a year ago. Investors reacted negatively to the disappointing results, sending Topsports' stock down by over 5% on Wednesday as concerns mounted about the company's ability to maintain growth and profitability in a challenging market environment.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1183141879?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-24 16:16","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1183141879","market":"us","top_or_hot":-1,"title":"Stock Track | Topsports Plunges Over 5% as Weak First-Half Results Disappoint Investors","media":"Stock Track","content":"<p>Shares of Topsports International Holdings Ltd. (HKG:6110) plummeted by more than 5% on Wednesday, October 24, as the Hong Kong-listed sportswear company reported disappointing financial results for the first half of its fiscal year ended August 31, 2024.</p>\n\n<p>The company's net profit attributable to shareholders nosedived 34.5% year-over-year to 873.8 million yuan ($123.2 million), while revenue for the six-month period also declined to 13.05 billion yuan, down from 14.18 billion yuan in the same period last year. Topsports further disclosed that its total sales for retail and wholesale operations in the second quarter registered a low-teens percentage decline compared to the previous year.</p>\n\n<p>The weaker financial performance led Topsports to cut its interim dividend to 0.14 yuan per share, lower than the 0.16 yuan paid out a year ago. Investors reacted negatively to the disappointing results, sending Topsports' stock down by over 5% on Wednesday as concerns mounted about the company's ability to maintain growth and profitability in a challenging market environment.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Topsports Plunges Over 5% as Weak First-Half Results Disappoint Investors</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Topsports Plunges Over 5% as Weak First-Half Results Disappoint Investors\n</h2>\n\n<h4 class=\"meta\">\n\n2024-10-24 16:16 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Topsports International Holdings Ltd. (HKG:6110) plummeted by more than 5% on Wednesday, October 24, as the Hong Kong-listed sportswear company reported disappointing financial results for ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"06110","symbol_name":"滔搏","start_time":0,"source_url":"","article_id":"1183141879","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1183141879","pubTimestamp":1729757799,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Topsports International Holdings Ltd.  plummeted by more than 5% on Wednesday, October 24, as the Hong Kong-listed sportswear company reported disappointing financial results for the first half of its fiscal year ended August 31, 2024.The company's net profit attributable to shareholders nosedived 34.5% year-over-year to 873.8 million yuan , while revenue for the six-month period also declined to 13.05 billion yuan, down from 14.18 billion yuan in the same period last year. Topsports f","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"06110":"滔搏"},"translate_title":"上半年业绩疲弱令投资者失望，Topsports股价暴跌逾5%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"06110":1},"content_text":"Shares of Topsports International Holdings Ltd. (HKG:6110) plummeted by more than 5% on Wednesday, October 24, as the Hong Kong-listed sportswear company reported disappointing financial results for the first half of its fiscal year ended August 31, 2024.\nThe company's net profit attributable to shareholders nosedived 34.5% year-over-year to 873.8 million yuan ($123.2 million), while revenue for the six-month period also declined to 13.05 billion yuan, down from 14.18 billion yuan in the same period last year. Topsports further disclosed that its total sales for retail and wholesale operations in the second quarter registered a low-teens percentage decline compared to the previous year.\nThe weaker financial performance led Topsports to cut its interim dividend to 0.14 yuan per share, lower than the 0.16 yuan paid out a year ago. Investors reacted negatively to the disappointing results, sending Topsports' stock down by over 5% on Wednesday as concerns mounted about the company's ability to maintain growth and profitability in a challenging market environment.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1183141879"}