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  "docSlug": "24a337302d8e",
  "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": "2019-07-22 00:00:00",
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  "notes": "The slide uses screenshots of corporate registry data and a Tmall store page to highlight a discrepancy in business ownership and management claims.",
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      "kind": "callout",
      "text": "Just as with the ANTA Ruidong online store above, ANTA does not own this online sales platform.",
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      "kind": "image",
      "text": "Tmall store screenshot for Anta Kids",
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      "kind": "image",
      "text": "Corporate registry screenshots for Jinjiang Dingdian E-commerce Co.",
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      "text": "Below is a recent screen shot of Jinjiang Dingdian E-commerce's Anta Kids Tmall online store. Jinjiang Dingdian specifically markets itself as being an 'Official Self-Operated Online Store.' Just as with the ANTA Ruidong online store above, ANTA does not own this online sales platform.",
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      "kind": "paragraph",
      "text": "However, even more troubling was the discovery that Jinjiang Dingdian has also been selling Fila products online. Management has stated that Fila is a directly operated business. Even after our Part 3 forced ANTA to concede that 20% of its Fila sales are made to distributors, management has no good reason for allowing a non-ListCo entity, let alone an ANTA employee, to run a private Fila online store on a major e-commerce platform.",
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