XTEP INT'L (01368.HK) +0.010 (+0.200%) Short selling $2.74M; Ratio 3.043% posted solid 4Q25 results, CICC published a research report saying. The retail sell-through of its main Xtep brand remained flat Y, with retail discounts ranging from 25-30% off. As of the end of December, channel inventory turnover was 4.5 months, while the retail sell-through of the Saucony brand grew by over 30% YoY.CICC basically maintained its 2025/ 2026 EPS forecasts for the Company at RMB0.49/ RMB0.55 respectively, and introduced a 2027 EPS forecast of RMB0.61. The current share price corresponds to a projected 2026 PE ratio of 8x. Hence, the broker kept rating at Outperform. Considering the downward shift in the industry's valuation pivot, CICC dropped its target price by 11% to $6.47, corresponding to an estimated 2026 PE ratio of 11x.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-01-27 16:25.)