[Wuhan pneumonia] Anta's epidemic affects financial performance in the first half of the year

Financial news

Written by: Zhang Weilun

2020-02-17 11:23

The pneumonia epidemic in Wuhan is still worsening, with more than 70,000 confirmed cases so far. ANTA Sports (2020) stated in the announcement that in order to actively cooperate with the epidemic prevention and control work and ensure the health and safety of employees and customers, some stores in different regions have been closed in accordance with the guidelines and requirements of relevant government departments. As of last Friday (14th), nearly 40% of all brands in the mainland have resumed business.

The company pointed out that according to the development of the epidemic situation and local government policies, it will decide to resume the business suspension of the stores that have been suspended. It will also communicate closely with the distributors and closely monitor the sales performance. To mitigate any risks that arise.

The company pointed out that after the Chinese New Year holiday, its own factories will stop production for another two weeks in accordance with the relevant government regulations, and will gradually resume production next week. However, due to suspension of transportation facilities or limited services in some areas, more affected provinces will be affected. City employees, especially those in Hubei, are still unable to return to production units as planned, resulting in the company ’s own factory production capacity not reaching normal levels and it is expected that it will take some time to recover.

Anta pointed out that it is closely reviewing the market situation and continues to evaluate the impact of the epidemic on the company's operations and financial performance. It is expected that under special circumstances, the epidemic will inevitably affect the industry and company financial performance in the first half of this year. Only in the second half of the year returned to normal levels.

Anta Sports: Retail sales of branded products increased by 10% to 20% in the middle last year

Anta Faying expects to earn at least 45% more throughout the year

Anta