Anta'S Shoe Sales Increased By 8.1% In The First Quarter.

 　　安踏一季度鞋（包括兒童和生活系列）的銷售數量達到1020萬雙，按年增長8.1%。而服裝的銷售數量達到1520萬件，按年增長23.8%。截至2010年3月31日，安踏品牌零售店為6,727間，比2009年底增加136間。店均面積從2009年底的107平方米增加到2010年3月31日的108平方米。

Opinion commentary: the company's first quarter business data is in line with expectations.

Sales growth in the first quarter was mainly driven by quantity. We expect that the average selling price of footwear and clothing will increase.

Company management also mentioned that the execution rate of orders was good in the first quarter, but the volume of supplementary orders was not large.

We believe that sales growth in the first quarter is close to 18% of the company's 1Q10 orders will grow.

Orders for companies 2Q10 and 3Q10 will grow by 16% and 18% respectively.

As of March 31, 2010, Anta brand retail outlets were 6727.

It is not difficult to achieve the goal of 7200 stores at the end of the year.

Investment recommendations: the company's first quarter business data is in line with expectations.

We will attend the 4Q10 ordering meeting of the company in Jinjiang in May 6th.

We will review the profit forecast after the growth of the 4Q10 order.

We have a positive view of Anta's profit growth and maintain HK $13.9 mark price and collection rating for the time being.

Investors are advised to bargain for collection.