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<Research>CICC Initiates Coverage on YUE YUEN IND (00551.HK) w/ Rating Outperform & TP $19.46
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CICC released a research report initiating coverage on YUE YUEN IND (00551.HK), with rating at Outperform and a target price of $19.46, corresponding to a 10.5x PE ratio for 2026. The Company is leading the global sports shoe manufacturing sector, meanwhile expanding its sports footwear and apparel retail business in Greater China. The global sports shoe scale was US$167.7 billion in 2024, with a projected mid-single-digit growth kept over the next 5 years, according to Euromonitor. The global sports shoe brand share is concentrated, with the top 10 brands (CR10) expected to hold a 57% share in 2025. The shoe manufacturing industry is also showing a concentrated pattern, with YUE YUEN IND being the world's largest sports shoe manufacturer. The broker estimated its shipment share to exceed 10%. YUE YUEN IND's subsidiary, Pou Sheng International, is the leading sports shoe and apparel retailer in Greater China. AASTOCKS Financial News Website: www.aastocks.com |
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