BUZZ-China's Topsports drops to 5-1/2 months low on Q3 sales miss

Reuters2025-12-23

** Shares of Topsports International Holdings 6110.HK drop 8% to HK$2.87, their lowest level since July 10; on track for sixth straight session of decline

** Stock set for the biggest one-day pct decline since May 23

** The China sportswear group posted a high single-digit decline Y/Y on total sales of retail and wholesale operations for Q3 of FY2025/26 between Sept and Nov

** UBS maintains "buy" on the stock but trims PT to HK$3.85 from HK$4.06, saying Sept-Nov sales missed and it has revised down FY26-28 net profit estimates by 7-14% to factor in the latest sales pressure

** YTD, Hong Kong stock up 3.2%, benchmark Hang Seng Index .HSI up 28.4%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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