Quantamental Researcher, JD Finance Quantamental Research

Ben Li

Quantamental Researcher

JD Finance Quantamental Research

JD Finance Big Data Quantamental Research is a data and insight provider of proprietary online eCommerce data, under the arm of big data analytics team in JD Finance. JD Finance is an affiliate of US listed JD, a leading eCommerce player in China. It is one of the largest fintech companies in China, with business spanning across consumer loans, fund distribution, and quantitative strategy research. 

Thematic (Sector/Industry)

<ul class=""><li>China Sportswear sales accelerated in 2017Q3, showing 34% Y/Y growth.</li><li>Top US companies won the race among all other sportswear companies, especially in the Sports Shoes sector, revenue went up by 70% versus year ago.</li><li>Sports Apparel is losing momentum in 2017Q3, Y/Y growth in September dropped to the lowest point in recent months.</li></ul><p><em>Related tickers: <a href="https://www.smartkarma.com/entities/10261" target="_blank" data-smartkarma-citation="entities:10261">Anta Sports Products Ltd (2020 HK)</a>, <a href="https://www.smartkarma.com/entities/18118" target="_blank" data-smartkarma-citation="entities:18118">Xtep International Holdings (1368 HK)</a>, <a href="https://www.smartkarma.com/entities/6047" target="_blank" data-smartkarma-citation="entities:6047">Li Ning Co Ltd (2331 HK)</a>, <a href="https://www.smartkarma.com/entities/6658" target="_blank" data-smartkarma-citation="entities:6658">Nike Inc Cl B (NKE US)</a>, <a href="https://www.smartkarma.com/entities/25994" target="_blank" data-smartkarma-citation="entities:25994">adidas AG (ADDYY US)</a>, <a href="https://www.smartkarma.com/entities/11401" target="_blank" data-smartkarma-citation="entities:11401">Under Armour Inc Class A (UA US)</a>, <a href="https://www.smartkarma.com/entities/1597" target="_blank" data-smartkarma-citation="entities:1597">Skechers Usa Inc Cl A (SKX US)</a>. For more brand-level data, please send us a private message.</em></p>

China Sportswear sales accelerated in 2017Q3, showing 34% Y/Y growth.Top US companies won the race among all other sportswear companies, especially in the Sports Shoes sector, revenue went up by 70% versus year ago.Sports Apparel is losing momentum in 2017Q3, Y/Y growth in September dropped to the lowest point in recent months.Related tickers: Anta Sports Products Ltd (2020 HK), Xtep International Holdings (1368 HK), Li Ning Co Ltd (2331 HK), Nike Inc Cl B (NKE US), adidas AG (ADDYY US), Under Armour Inc Class A (UA US), Skechers Usa Inc Cl A (SKX US). For more brand-level data, please send us a private message.

3Q17 China Online Sportswear– Top US Brands Well Performed but Sports Apparel Showed Downside Risk

Analyst

Steve

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/xtep-international-holdings" target="_blank" data-smartkarma-citation="entities:18118:1" rel="noopener">Xtep International (1368 HK)</a> announced an operational update for 4Q23, with retail sales growing more than 30% for the Xtep brand (off of a low base in 4Q22).</li>
<li>The overall quality of the retail sales growth is low, as the growth was mainly driven by higher discount level (around 30% compared to 25-30% in the previous quarter). </li>
<li>I still prefer Anta over Xtep at this stage, as Xtep is more of a beta play if the consumer sentiment turns around in China. </li>
</ul>



Xtep International (1368 HK) announced an operational update for 4Q23, with retail sales growing more than 30% for the Xtep brand (off of a low base in 4Q22).
The overall quality of the retail sales growth is low, as the growth was mainly driven by higher discount level (around 30% compared to 25-30% in the previous quarter). 
I still prefer Anta over Xtep at this stage, as Xtep is more of a beta play if the consumer sentiment turns around in China. 


Xtep International (1368 HK):  Strong Headline Retail Sales Growth In 4Q23 But Quality Is Still Low

China

Xtep International Holdings Ltd. designs, manufactures, and markets sportwear. The Company produces footwear, apparel, and accessories.

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Xtep International (1368 HK)

3Q17 China Online Sportswear– Top US Brands Well Performed but Sports Apparel Showed Downside Risk

China Sportswear sales accelerated in 2017Q3, showing 34% Y/Y growth. Top US companies won the race among all other sportswear companies,...

Ben Li