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2009-6-30 10:09:00 a.m. HKT, XFNA
DJ MARKET TALK: 361 Degrees +14.4% Pre-Mkt; Aggressive Expansion
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| 0958 [Dow Jones] NEW LISTING: 361 Degrees (1361.HK) +14.4% at HK$4.13 at pre-open, with gains in line with gray market price. KGI says 361 Degrees' size too small to compare with market leaders such as Li Ning (2331.HK), Anta Sports (2020.HK), only comparable to Xtep International (1368.HK); adds, concerned about 361's long-term growth after 2008, 2009, with sales in these 2 years boosted by switching operation model via releasing retail control to distributor in 2006. Some analysts say such aggressive expansion involves longer credit terms; apart from credit risk, also provokes concerns of inventory glut. (RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
(Delayed by 1 hour)
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