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  "docSlug": "4e8802588ba6",
  "documentTitle": "ANTA Sports Products Limited (2020.HK)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
  "documentKindSlug": "research-note",
  "documentKindLabel": "Research note",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-07-08 00:00:00",
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  "notes": "Includes a photo of a meeting, a Chinese text excerpt, and an interview transcript snippet regarding Su Weiqing and the Beijing subsidiary.",
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      "text": "Meeting photo",
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      "kind": "paragraph",
      "text": "During our interviews with former senior managers, we also confirmed that BJ Jiayuan is considered a subsidiary of ANTA, as opposed to a truly independent distributor.",
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      "text": "Last, while reviewing the SAIC files for BJ Jiyuan, we found an unexpected transaction recorded with a subsidiary of the ListCo. In September 2010, Xiamen ANTA Investment Management Co. set up Beijing ANTA Sports Goods Co. 北京安踏体育用品有限公司, and in October 2012,",
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      "kind": "paragraph",
      "text": "苏伟卿首先介绍了公司的发展情况。他说，北京吉元盛宝国际贸易有限公司是知名品牌安踏（中国）有限公司在北京地区的唯一经销商，是安踏公司在北京的自营销售公司。作为安踏集团产业的一部分，北京吉元盛宝国际贸易有限公司专注于“安踏”、“FILA”等品牌体育产品的北京市场销售业务，已成为北京区域市场领先的体育服装零售企业。随着公司规模进一步的扩大，选址在北京亦庄经济技术开发区，其公司发展环境更优越，发展后劲将更大。",
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      "text": "Investigator: How about Su Weiqing? Mr. C.: Yes, Mr. Su, he is the boss of the Beijing subsidiary. I can share with you why the ANTA, the ANTA brand compared to the Lining brand, why has it been is going up all these years – it’s very much related to ANTA’s channels. Mr. Su is the boss of the Beijing sub, he is worth over RMB 100 million. ANTA has stakes in a lot of subs, some even controlling stakes such as in its Fujian sub, Guangdong sub. But for the Beijing subsidiary, he is the boss.",
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