The Zhitong Finance App learned that sporting goods stocks declined collectively. As of press release, Express International (01368) fell 2.74% to HK$5.33; China Trend (03818) fell 1.89% to HK$0.26; Taobo (06110) fell 1.51% to HK$6.53; and 361 degrees (01361) fell 0.28% to HK$3.54.
Damo pointed out that overall market performance is weak, and the outlook for the fourth quarter of the industry is bleak. Growth forecasts may have to be revised downward. Growth of some major brands or retailers in the first quarter of next year is more likely to be weak or even record a slight decline. According to the bank, competition in the industry may become intense next year. Currently, it still believes that the valuation of China's sporting goods industry is attractive, and there is huge room for long-term growth, but in the short term, the outlook for the next 6 to 12 months is uncertain.