Topsports International Holdings Ltd

06110: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Topsports: Nike Online Exit Threatens Distributor Model; Cutting Fair Value Estimate 42%

Ivan Su , Junhao Yang

Jul 23, 2026

Topsports has received official notice from Nike that its rights to sell Nike products online in mainland China will be terminated effective Jan. 1, 2027. Nike is resetting its digital distribution channel in China in an effort to restore price integrity and strengthen brand equity.

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Topsports International Holdings Ltd

Topsports: Nike Online Exit Threatens Distributor Model; Cutting Fair Value Estimate 42%

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