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<Research>UBS Drops TOPSPORTS (06110.HK) TP to $3.6
UBS, in its research report, stated that TOPSPORTS (06110.HK)’s sales in 3QFY25 sank by MSD YoY, with retail channels slightly better than wholesale and beating the broker...
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<Research>UBS Drops TOPSPORTS (06110.HK) TP to $3.6
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UBS, in its research report, stated that TOPSPORTS (06110.HK)  +0.010 (+0.324%)    Short selling $2.62M; Ratio 8.589%   ’s sales in 3QFY25 sank by MSD YoY, with retail channels slightly better than wholesale and beating the broker's expectations; online sales grew by DD YoY. However, the management of TOPSPORTS retained its guidance, which was an HSD YoY decline in revenue and a 35-45% YoY decline in net profit for FY2025.

The broker trimmed its EPS estimates for TOPSPORTS by 24-40% for FY2025-27 to reflect sales pressure and higher sales discounts. The broker projected the group's revenue and net profit to fall by 7% and 38% in FY2025, respectively, close to the company's guidance, while revenue and net profit were expected to hike by 3% and 20% in FY2026, respectively. The broker axed its target price from $6.6 to $3.6 and reiterated its Buy rating.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-16 16:25.)

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