Key recommended / benefited targets this week
(1) sports leaders: Anta sports, Li Ning, benefiting target: Tebu International;
(2) sports shoes and clothing retailer leader: taobo;
(3) OEM leader: Huali Industrial Group Company Limited(300979) , Shenzhou International, Anhui Korrun Co.Ltd(300577) , beneficiary: virgin;
(4) Leisure Faucet: Hla Group Corp.Ltd(600398) , Zhejiang Semir Garment Co.Ltd(002563) ;
(5) target of other sub blocks: Winner Medical Co.Ltd(300888) .
The Winter Olympics has heated up the sports economy and ushered in new opportunities for sports and OEM leaders
At present, the Winter Olympics has been opened, the official media and various sports brands have increased publicity, and the discussion of Winter Olympics topics on the social media platform has increased significantly, which is conducive to the improvement of the voice of leading sports brands. As of the closing on the 4th, the Hong Kong stock sporting goods index rose by 5.99% in a single day. With the continuous growth of national sports and clothing related brand building, we believe that it is expected to usher in a new round of leading sports and clothing related sports under the promotion of national sports and clothing related policies.
This week focuses on the update of the company / revenue target
(1) Anta Sports: in this winter Olympics, Anta will provide equipment for 12 Chinese teams including the short track speed skating team. The microblog topic # love sports in China has also aroused heated discussion on the microblog. Olympic related topics are conducive to the improvement of brand voice. As of 18:00 p.m. on February 6, 2022, the topic has been read 1.63 billion times, discussed 3.13 million times and created 189000 people. From the reading trend, the number of readings reached a peak of 160 million on the opening day of the Winter Olympic Games on February 4; From the discussion trend, the number of discussions reached a peak of 136000 after China won the gold medal of short track speed skating mixed team relay at 21:00 on February 5.
(2) Li Ning: in January, the flow maintained a high growth, and the new series Li Ning 1990 had a brilliant performance. As of January 31, 2022, we expect the offline direct + wholesale flow of Li Ning to increase by more than 100% year-on-year in January, including 110% year-on-year growth of direct business and 95% year-on-year growth of wholesale business. We expect the average store efficiency of the new series of Li Ning 1990 to be about 1.1 million in January, mainly because the new stores are still in the starting stage, reducing the average store efficiency. In December 2021, we expect the store efficiency of Li Ning 1990 to be more than 2 million in a single month.
(3) taobo: the Nike Beijing brand experience store jointly built by taobo and Nike opened in taiguli, Sanlitun, Beijing, covering an area of 2800 square meters on two floors. The store is Nike's first rise concept store in China through strategic partners. Fy22q4 (21.12-22.2) is the last high base of taobo. Under the background of weakening the influence of the supply chain, taobo has obvious competitive advantages: (1) firm the brand's strategy of opening large stores, and the benefits of large stores are significantly better than their peers. With the advantage of rich resources of high-level large stores, it has a wide range of goods and is expected to seize the market share of peers; (2) The business model of check-out is mature, which is conducive to increasing the output of single stores in case of repeated epidemic; (3) Fy2023 will expand new markets for Chinese and international customers. It is expected that the performance will usher in an inflection point in the new fiscal year of fy2023.
(4) Huali Industrial Group Company Limited(300979) : the performance exceeded expectations and was optimistic that the share of sports brands continued to increase under the tight supply chain. The company released a performance forecast. It is estimated that the net profit attributable to the parent company in 2021 will be RMB 2.630-2.912 billion, with a year-on-year increase of 40% - 55%. The performance exceeded the previous market expectations, mainly because the company's Vietnam factory has excellent epidemic prevention work and the production capacity has not been affected. In the context of the shortage of sports brand supply chain and the continuous recovery of sports demand and sports shoe consumption, the company seized the opportunity to expand its share and stabilize its leading position through capacity release and operation efficiency improvement.
Risk tip: the epidemic situation has worsened outside China. The supply chain shortage of international brands has intensified.
