ANTA Sports Products (02020.HK) saw its stock price plummet by 5% during intraday trading on Wednesday, despite the company announcing its financial results and future expansion plans. The sharp decline suggests that investors may have been disappointed with the company's performance or outlook.

According to the company's financial report, ANTA Sports recorded a full-year revenue of RMB70,826 million and a profit attributable to shareholders of RMB15,596 million. While these figures represent the company's performance, the market reaction indicates that they may have fallen short of investor expectations. Additionally, ANTA Sports recommended a final dividend of HK118 cents per ordinary share, which apparently failed to boost investor confidence.

Looking ahead, ANTA Sports revealed its expansion strategy, targeting to increase the number of ANTA stores to between 6,900 and 7,000 by the end of 2025. However, this ambitious plan seems to have done little to alleviate investor concerns, as reflected in the significant stock price drop. The market's negative reaction suggests that investors may be skeptical about the company's growth prospects or worried about potential challenges in the highly competitive sportswear market.