TOPSPORTS (06110.HK): Receives Notice from NIKE; Online Platform Sales in Mainland China to Be Fully Terminated from 1 January 2027, Relevant Revenue Accounts for 22%
NewTimeSpace News: TOPSPORTS (06110.HK) announced on 22 July that it has received formal notification from NIKE that the Group’s online platform sales of NIKE products within mainland China will be completely terminated effective 1 January 2027. Such business contributed approximately 22% of the Group’s total revenue. The Board anticipates the termination will bring material adverse impacts on the Group’s business in the short term. The Company will continue close cooperation with NIKE over offline sales arrangements.
NewTimeSpace News: On 22 July 2026, TOPSPORTS (06110.HK) released an inside information announcement. After trading hours on 21 July 2026, the Group received formal notification from NIKE that its current online platform sales of NIKE products in mainland China will be fully terminated with effect from 1 January 2027.
The Board anticipates that the termination will have a material adverse effect on the Group’s business in the short term. For the financial year ended 28 February 2026, revenue generated from online platform sales of NIKE products accounted for approximately 22% of the Group’s total revenue.
The Company stated that notwithstanding the short-term negative impact, the Group will strive to maintain close cooperation with NIKE in respect of offline sales arrangements based on the principle of mutual benefit. Shareholders and potential investors are reminded to exercise caution when dealing in the Company’s securities.
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