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The shares of Anta, China's largest sportswear brand, lost up to 8.7% on Monday, after a report by vendor salesman Muddy Waters reporting fraudulent activity in the company .
Shares of the Chinese sports goods maker fell sharply in the morning on the Hong Kong Stock Exchange after the seller's short report, before recovering slightly to return to a 7.3% decline.
The company's shares have increased by almost 37% this year.
In March, Anta led the acquisition of Finnish company Amer Sports, a manufacturer of Wilson tennis rackets and Louisville Slugger baseball bats, for 5.6 billion euros.
Anta is one of the most well-known brands among the dozens of sportswear companies dubbed the "Fujian Tigers", which appeared in the 1980s in southeastern China. After starting to manufacture products for brands such as Nike and Adidas, she turned to own-brand products and finally began to move towards the high-end market after acquiring Italian brand Fila in 2009.
However, Anta still generates almost all of its income in the domestic market and remains relatively unknown outside of China.
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