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Anta raises funds to do charity bizarre idea
On October 26, as Fujian’s wealthiest individual, Chen Fashu, was making headlines for donating 8.3 billion yuan in personal assets to charity, another prominent figure from the same region, Ding Shizhong, chairman of Anta Sports and controlling shareholder of Fujian Fuhao, announced a similar move. The Ding family plans to raise HKD 800 million by placing 80 million shares at HKD 10 each—representing around 3.2% of Anta’s total issued shares. This marks a new approach in China’s corporate philanthropy landscape, where major shareholders are using share placements rather than traditional stock sales to fund charitable initiatives.
Anta stated that part of the proceeds will go toward establishing a charitable fund, which is seen as a strategic move in an era where public donations can offer tax benefits. However, this has raised questions about the true motives behind such high-profile acts of generosity. Some analysts suggest that these actions may also serve as a way to manage wealth while maintaining a positive public image.
Lu Jiahui, Anta’s vice president of investor relations, emphasized that the shareholders’ intentions are straightforward: contributing to society. But the market reacted with skepticism. On the day after the announcement, Anta’s stock price dropped sharply, falling by over 5% on October 27 and further declining to below HKD 10 on October 28. Lu attributed the drop to broader market weakness and investor sensitivity, but the company remains confident in its long-term fundamentals.
Beyond charity, the share placement also signals potential strategic moves. While the exact use of the remaining funds hasn’t been disclosed, some speculate that it could be used for future acquisitions. Anta has been actively expanding its portfolio, most recently acquiring 85% of Full Prospect and the Fila brand from Belle International. Analysts believe this acquisition positions Anta to challenge Li Ning, its main competitor, both in sales and brand influence.
In fact, Anta has long aimed to surpass Li Ning, not just in sales volume but also in revenue. While Anta’s net profit already exceeds Li Ning’s, the company still lags in overall sales. Reports suggest that Anta is in talks to acquire domestic brands like Xidelong and even the American sportswear brand AND1. If successful, such deals could significantly boost its market position.
For now, the focus remains on how the Ding family’s charitable efforts will unfold—and whether they’re truly about giving back or serving other strategic interests. As the story develops, investors and observers will be watching closely.