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361度

361度Official Account

Tiger Certification: 中国领先的综合性体育用品公司

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中国领先的综合性体育用品公司

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No dividend was declared.·&nbsp;E-commerce and 361º Kids businesses are the main growth drivers·&nbsp;More professional products to boost AWP·&nbsp;Maintain BUY and TP of HK$5.251H22 earnings beats.We attribute this to the strong growth in e-commerce and kids’ wear and the lower effective tax rate (21.3% versus 30.7% in 1H21). 361 Degrees managed to increase the average wholesale price (“AWP”) while maintaining the sales volume. It reported a GPM of 41.5% in 1H22, down slightly by 0.3p.p. yoy. Operating profit rose 8.7% yoy to RMB772mn, mainly due to the 30.7% yoy increase in selli","text":"Oriental Patron maintained a BUY as 1H22 earnings beat estimates with strong growth in e-commerce and kids’ wear· 1H22 net profit rose 37.2% yoy to RMB551mn. Meanwhile, revenue rose 17.6% yoy to RMB 3.65bn. 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