{
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  "docSlug": "f251829318b8",
  "documentTitle": "ANTA Sports Products Limited (2020.HK)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson Block",
  "documentKindSlug": "research-note",
  "documentKindLabel": "Research note",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-07-10 00:00:00",
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  "notes": "The slide uses a screenshot of a Chinese corporate registry (Qichacha or similar) to expose a contradiction in ANTA's public disclosures.",
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      "kind": "callout",
      "text": "ANTA has clearly lied in a material – and egregious – manner. Because of its control over its Tier 1 distributors’ finance departments, investors cannot rely on the ANTA brand numbers.",
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      "kind": "image",
      "text": "Corporate registry data for Ding Dong (Beijing)",
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      "kind": "paragraph",
      "text": "ANTA has clearly lied in a material – and egregious – manner. Because of its control over its Tier 1 distributors’ finance departments, investors cannot rely on the ANTA brand numbers. Because ANTA is clearly lying about its ownership of its Fila stores, investors similarly cannot rely on the Fila financials. In short, ANTA's financials are entirely unreliable.",
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      "kind": "title",
      "text": "Ding Dong (Beijing) Sporting Goods Products",
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