Not vested. From Dr. Check, The Standard HK:-
Sportswear giant sprints to profit
The Hong Kong dollar has strengthened again, indicating that money is flowing in. This suggests the Hang Seng Index is likely to edge higher but it needs to clear 21,500 points first.
Let's look today at a consumption-related share that may move upward in the medium term.
Mainland firm 361 Degrees (1361) makes and sells sportswear, including shoes, clothes and accessories, under its own brand.
Its retail network covers more than 1,600 cities. As of December, the number of outlets operated by 361's authorized retailers stood at 6,693, increasing by 638 from the first half of last year.
The firm has been appointed a strategic partner of the Guangzhou 2010 Asian Games as well as state-run CCTV's sports channel.
The group also cooperates with QQ.com and Sohu.com to promote internet sports programs.
The sportswear giant's interim net profit grew a hefty 177 percent to 357 million yuan (HK$405.69 million).
Footwear and apparel accounted for 59 percent and 40 percent of revenue, respectively. Its gross profit margin rose to 39 percent from 29.3 percent.
Bank of America set a target price of HK$6.80. The mainland firm closed at HK$5.79 yesterday, or 10 times its expected price-earnings ratio for 2010. At this level it is not expensive.
http://www.thestandard.com.hk/news_deta ... 00310&fc=4