ANTA Sports Products
3 activist/short documents on this target.
Timeline
2019-07-10
Muddy Waters · research note
ANTA's 'self-operated' Fila franchise is a fiction: 46 Beijing Fila stores are owned by an insider proxy, exposing fabricated Fila financials and rendering all ANTA numbers unreliable.
N4 V2
2019-07-15
Muddy Waters · research note
Muddy Waters Part 4 rebuts ANTA's responses — management has lied about owning all Fila stores, the Shanghai Fengxian disposal, and distributor independence, confirming the underlying fraud.
N4 V1
2019-07-22
Muddy Waters · research note
ANTA's largest 'third-party' supplier and its 'self-operated' online stores are secretly controlled by an ANTA employee, so reported margins and Fila's numbers cannot be trusted.
N4 V2