The Zhitong Finance App learned that TEP International (01,368) rose by more than 4%. As of press release, it had risen 3.51% to HK$4.72, with a turnover of HK$24.257,700.
According to the news, TEP International released retail data for 2024Q1. The sales volume of TEP's main brand increased by a higher number of units over the same period last year, with discounts of 70-75% off, and inventory sales compared to 4-4.5 months. The sales performance was in line with expectations. Changjiang Securities pointed out that the base figure declined in April and the turnover is expected to increase in double digits, and growth is expected to accelerate in subsequent quarters.
The bank said that in the short term, the company's inventory has returned to a relatively healthy level. In 2024, the main brand's gross margin and A&P fee ratio still have room to be optimized, and professional sports brands continue to grow and contribute to performance. In the medium to long term, Sauconi is on the right track, forming differences and complements with the main brand of XTEP in the field of running, and is expected to develop into the group's second growth curve with the continuous cultivation of new brands.