TOPSPORTS(06110.HK): No Formal Notice Received from Nike to Terminate Online Primary Distribution Licences; Online Sales Account for 22% of Revenue; Trading to Resume on 26 June
NewTimeSpace News: Topsports (06110.HK) issued an announcement on 25 June stating it has not received any formal notice from Nike regarding termination of online distribution licences, with online sales of Nike products contributing 22% to total revenue. The Company’s shares entered temporary trading halt on 25 June amid unusual price and turnover volatility and will resume trading on 26 June.
NewTimeSpace News: On 25 June 2026, Topsports International Holdings Limited (06110.HK) released an inside information announcement. The Board noticed recent unusual volatility in the price and trading turnover of the Company’s shares, alongside online speculation that Nike intended to terminate all of its online primary distribution licences for the Chinese Mainland effective 1 January 2027.
The Company clarifies that as at the date of the announcement, it has not received any formal notice from Nike in respect of terminating the online distribution arrangements. Nike and the Group hold regular discussions covering various aspects of business cooperation, including the status of online sales arrangements. For the financial year ended 28 February 2026, revenue generated from online sales of Nike products accounted for approximately 22% of the Group’s total revenue.
At the Company’s request, trading in the Company’s shares was placed under temporary trading halt with effect from 9:00 a.m. on 25 June 2026. The Company has applied for resumption of trading in its shares commencing at 9:00 a.m. on 26 June 2026. The Company reminds shareholders and potential investors to exercise prudence when trading the securities.
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