【出版时间及名称】:2010年1月中国运动服装行业研究报告
【作者】:建银国际
【文件格式】:PDF
【页数】:79
【目录或简介】:
Table of Contents
Small is beautiful..........................................................................................................................................................1
Investment summary....................................................................................................................................................3
Second-tier brands will shine in 2010...........................................................................................................................4
Relative re-rating to continue.....................................................................................................................................10
Company profiles:
361 Degrees International (1361 HK, initiate with Outperform)..................................................................................13
ANTA Sports (2020 HK, initiate with Neutral)..............................................................................................................23
China Dongxiang (3818 HK, initiate with Neutral) ......................................................................................................32
Li Ning (2331 HK, initiate with Underperform) ............................................................................................................42
Peak Sport Products (1968 HK, initiate with Outperform) ..........................................................................................51
Xtep International (1368 HK, initiate with Outperform) ...............................................................................................61
Appendix 1: Operational and financial comparison ....................................................................................................71
Appendix 2: Sales and order book growth trends.......................................................................................................78


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