安踏收购彪马29.06%股权

今天，安踏集团宣布，安踏体育用品有限公司将收购运动品牌彪马（PUMA）所属公司29.06%的股权，成为其最大股东。

今天你练听力了吗？

🤔️小作业：

1. What can be reasonably inferred about Anta Sports' attitude toward corporate control of Puma?

A. Anta intends to assume operational control in the short term

B. Anta prefers influence without full ownership

C. Anta plans to divest its stake after Puma's revival

D. Anta views Puma mainly as a short-term financial asset

无注释原文：

After Much Speculation, Anta Sports Scoops Up 29% Puma Stake in $1.8 Billion Deal

From: WWD

Anta Sports Products Limited confirmed early Tuesday in China that it inked an agreement with Groupe Artémis, the investment company of the Pinault family, to acquire a 29.06 percent stake in Puma SE in a deal worth 1.5 billion euros, or about $1.8 billion.

The transaction is expected to close by the end of 2026. The equity acquisition will be entirely financed with Anta Sports' internal cash resources, the company said.

Anta added that it “fully appreciates” Puma's management culture and independent governance as a German-listed company and intends to seek “adequate representation” on Puma's supervisory board. These representatives will work closely with the other supervisory board members from both the shareholders' and employee representatives' side, while preserving Puma's strong brand identity and heritage, the company noted.

Anta further stated that it currently has no plans to make a takeover offer for Puma but will “carefully assess” the possibility of further deepening the partnership between the two parties in the future.

Ding Shizhong, board chairman of Anta Sports, said in a statement that this acquisition makes Anta Sports the largest shareholder of Puma and marks a major step forward in our 'single-focus, multi-brand, globalization' strategy.

“Working with Puma, we look forward to learning from each other and joining hands to fully unlock the brand's full potential,” Shizhong said. “This will further accelerate Anta Sports' globalization, and help drive the next chapter of growth for the global sports markets including China – creating lasting value for both companies' consumers and shareholders worldwide.”

The chairman added that Anta believes Puma's share price over the past few months “does not fully reflect the long-term potential of the brand.”

“We have confidence in its management team and strategic transformation,” Shizhong added. “Moving forward, we hope to build strong trust, work together at arm's length, and leverage our complementary strengths without compromising independence. We look forward to supporting the brand's ongoing revival.”

Anta was established in 1991 and was officially listed on the main board of Hong Kong Exchanges and Clearing Limited in 2007. Anta Sports' portfolio of brands includes Anta, Fila, Descente, Kolon Sport, Maia Active and Jack Wolfskin. The company is also the largest shareholder of Amer Sports, the parent company of Arc'teryx, Salomon, Wilson, Peak Performance, and Atomic.

For months, sale speculation has been swirling around the brand.

Shares of Puma SE ticked up in September over buzz that its rival Adidas might be interested in acquiring the brand. Two days later, shares of Puma rose again over speculation that brand management firm Authentic Brands Group and private equity firm CVC would be throwing their hats into the ring.

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注：完整题目见本文开头；中文文本为机器翻译并非一一对应，仅供参考

含注释全文：

After Much Speculation, Anta Sports Scoops Up 29% Puma Stake in $1.8 Billion Deal

From: WWD

Anta Sports Products Limited confirmed early Tuesday in China that it inked an agreement with Groupe Artémis, the investment company of the Pinault family, to acquire a 29.06 percent stake in Puma SE in a deal worth 1.5 billion euros, or about $1.8 billion.

安踏体育用品有限公司周二早间在中国宣布，其已与皮诺家族的投资公司阿特米斯集团（Groupe Artémis）签署协议，以15亿欧元（约18亿美元）的价格收购彪马股份公司（Puma SE）29.06%的股份。

ink /ɪŋk/ 作名词，表示“墨水；油墨；墨汁”，英文解释为“coloured liquid used for writing, printing, and drawing”如：a bottle of ink 一瓶墨水，表示“给…上油墨”，英文解释为“to put ink on something”举个🌰：The printing plates have to be inked before they will print on the paper. 在印刷之前必须给印版上油墨。

此处ink an agreement是一个常见的商业新闻用语，意思是“签署了协议”。这个词源于过去用墨水（ink）在文件上签名的传统做法。在新闻报道，尤其是商业、体育和政治新闻中，媒体经常用“ink”作动词来描述“完成签署”这一动作，以使其语言更生动、更有画面感。它比“signed”听起来更正式、更具决定性和最终性。

acquire /əˈkwaɪər/ 作动词，表示“取得，获得；购得；学到；收购”，英文解释为“to get something”举个🌰：He acquired the firm in 2026. 他于2026年收购了这家公司。

stake /steɪk/ 1）表示“股本，股份”，英文解释为“a share or a financial involvement in something such as a business”举个🌰：He holds (= owns) a 55 percent stake in/of the company. 他拥有公司55%的股份。

2）表示“赌注，赌金”，英文解释为“the amount of money that you risk on the result of something such as a game or competition”

3）stakes 复数，表示“（活动或比赛的）奖金，奖品，回报”，英文解释为“In an activity or competition, the stakes are the reward for the person who wins or succeeds in it.”举个🌰：The team is playing for enormous stakes - the chance to play in the final. 这支球队正在为无上的回报，即进入决赛，而拼命一搏。

补充：

📍have a stake in sth表示“对…有强烈的兴趣；与…有利害关系；重大利益”，英文解释为“If you have a stake in something, it is important to you because you have a personal interest or involvement in it.”举个🌰：Employers have a stake in the training of their staff. 雇主很重视员工培训。

📍at stake表示“有风险；处于危急关头”，英文解释为“If something that is valuable is at stake, it is in a situation where it might be lost.”

The transaction is expected to close by the end of 2026. The equity acquisition will be entirely financed with Anta Sports' internal cash resources, the company said.

安踏公司表示，该交易预计将于2026年底完成，此次股权收购将全部使用安踏体育内部自有现金。

transaction /trænˈzæk.ʃən/ 表示“交易”，英文解释为“an occasion when someone buys or sells something, or when money is exchanged or the activity of buying or selling something”

equity /ˈek.wɪ.ti/  1）表示“（公司的）股本，股票值；股票”，英文解释为“the value of a company, divided into many equal parts owned by the shareholders, or one of the equal parts into which the value of a company is divided”举个🌰：He sold his equity in the company last year. 他去年卖掉了这家公司的股票。

2）表示“公平；公正”，英文解释为“the situation in which everyone is treated fairly and equally”如：a society based on equity and social justice 建立在公平公正和社会正义基础之上的社会。

📍private equity (PE) 私募股权；私人股本。据百度百科介绍，PE也就是私募股权投资，从投资方式角度看，是指通过私募形式对私有企业，即非上市企业进行的权益性投资，在交易实施过程中附带考虑了将来的退出机制，即通过上市、并购或管理层回购等方式，出售持股获利。

Anta added that it “fully appreciates” Puma's management culture and independent governance as a German-listed company and intends to seek “adequate representation” on Puma's supervisory board. These representatives will work closely with the other supervisory board members from both the shareholders' and employee representatives' side, while preserving Puma's strong brand identity and heritage, the company noted.

安踏公司补充称，其“充分认可”彪马作为德国上市公司的管理文化和独立治理结构，并计划在彪马监事会中争取“适当席位”。这些代表将与来自股东和员工方面的其他监事会成员密切合作，同时保持彪马强大的品牌形象和传承。

list作动词，表示“使（公司）上市；（公司）上市”（If a company is listed, or if it lists, on a stock exchange, it obtains an official quotation for its shares so that people can buy and sell them.）举个🌰：Last month, thirty new companies were listed. 上个月有30家公司上市。

📍relist 重新上市。

📍listing作名词，除了表示“（表册上的）位置，项目”，也有“上市”的含义，英文解释为“a position or an item on a list”举个🌰：The company is seeking a stock exchange listing (= for trading shares). 这家公司正在争取上市。

adequate /ˈæd.ə.kwət/ 表示“足够的；合格的；合乎需要的”，英文解释为“enough or satisfactory for a particular purpose”举个🌰：Have we got adequate food for 10 guests? 我们的食物够招待10位客人吗？

supervisory board通常译为“监事会”，是一个公司治理机构，其主要职责是监督、指导和任命公司的管理委员会（通常是执行董事会/管理层），但并不直接参与公司的日常经营管理。简单来说，它的核心职能是 “监督管理层，保护股东和其他利益相关者的权益”。

shareholder /ˈʃeəˌhəʊl.dər/ 表示“股票持有人，股东”，英文解释为“a person who owns shares in a company and therefore gets part of the company's profits and the right to vote on how the company is controlled”举个🌰：Shareholders will be voting on the proposed merger of the companies next week. 股东们下星期将投票表决拟议中的公司合并问题。

heritage /ˈher.ɪ.tɪdʒ/ 表示“遗产（指流传下来的具有历史意义的传统、语言、建筑等）”，英文解释为“features belonging to the culture of a particular society, such as traditions, languages, or buildings, that were created in the past and still have historical importance”

Anta further stated that it currently has no plans to make a takeover offer for Puma but will “carefully assess” the possibility of further deepening the partnership between the two parties in the future.

安踏公司进一步表示，目前没有对彪马发起收购要约的计划，但将“谨慎评估”未来进一步深化双方合作的可能性。

表示“接管，收购”，通常指公司，英文解释为“A takeover is the act of gaining control of a company by buying more of its shares than anyone else.”举个🌰：They were involved in a takeover last year. 去年他们参与了一家公司的收购。

Ding Shizhong, board chairman of Anta Sports, said in a statement that this acquisition makes Anta Sports the largest shareholder of Puma and marks a major step forward in our 'single-focus, multi-brand, globalization' strategy.

安踏集团董事局主席丁世忠在声明中表示，收购彪马的股权成为其最大股东，是安踏集团深入推进‘单聚焦、多品牌、全球化’发展战略的重要里程碑。

“Working with Puma, we look forward to learning from each other and joining hands to fully unlock the brand's full potential,” Shizhong said. “This will further accelerate Anta Sports' globalization, and help drive the next chapter of growth for the global sports markets including China – creating lasting value for both companies' consumers and shareholders worldwide.”

丁世忠表示：“我们期待与彪马公司相互学习并分享经验，携手合作充分释放其品牌势能。这将有助于进一步推动安踏集团的全球化进程，促进包括中国在内的全球体育产业繁荣，同时为全球消费者和利益相关者创造长期价值。”

表示“发掘（潜力）；揭开（秘密）”，英文解释为“If you unlock the potential or the secrets of something or someone, you release them.”举个🌰：A chemical has been discovered that may be the key to unlocking the mysteries of Parkinson's disease. 已发现一种化学物质，这可能是解开帕金森氏病之谜的钥匙。

The chairman added that Anta believes Puma's share price over the past few months “does not fully reflect the long-term potential of the brand.”

丁世忠补充称，安踏认为彪马过去几个月的股价“并未充分反映其品牌所蕴含的长期价值”。

“We have confidence in its management team and strategic transformation,” Shizhong added. “Moving forward, we hope to build strong trust, work together at arm's length, and leverage our complementary strengths without compromising independence. We look forward to supporting the brand's ongoing revival.”

丁世忠补充说：“我们对其现在的管理团队和战略转型有信心，未来双方建立深厚信任，在高度共识的领域开展协作、优势互补，同时保持各自业务运营上的独立性、纪律性和战略清晰，为该品牌的复兴之路提供有益的支持。”

complementary /ˌkɒm.plɪˈmen.tər.i/ 表示“补充的；互补的；补足的”，英文解释为“useful or attractive together”如：complementary colours / flavours / skills 互补色 / 风味 / 技能。

📍词根“-mentary”表示“具有...性质的”，前缀“comple-”来自拉丁词complere，表示“填满”。类似的：supplementary（补充的）。

compromise /ˈkɒm.prə.maɪz/ 1）表示“妥协；折中；让步；和解”，英文解释为“an agreement in an argument in which the people involved reduce their demands or change their opinion in order to agree”举个🌰：Let's compromise at/on ¥10. 我们就来个折中价10元。

2）表示“损害，伤害，危及”，英文解释为“to risk having a harmful effect on something”举个🌰：We would never compromise the safety of our passengers. 我们永远不会做有损乘客安全的事。

3）表示“放弃；背离，违背；降低”，英文解释为“to allow your principles to be less strong or your standards or morals to be lower”举个🌰：Don't compromise your beliefs/principles for the sake of being accepted. 不要为了得到别人的认同就放弃了你自己的信仰/原则。

区分：

📍comprise表示“包含；由…组成”，英文解释为“If you say that something comprises or is comprised of a number of things or people, you mean it has them as its parts or members.”举个🌰：The class is comprised mainly of Chinese and Japanese students. 这个班主要由中国和日本学生组成。

🎬电影《拉瑞·克劳》（Larry Crowne）中的台词提到：They comprise 20% of the world's fresh surface water supply. 它们提供了地球表面百分之二十的淡水。

Anta was established in 1991 and was officially listed on the main board of Hong Kong Exchanges and Clearing Limited in 2007. Anta Sports' portfolio of brands includes Anta, Fila, Descente, Kolon Sport, Maia Active and Jack Wolfskin. The company is also the largest shareholder of Amer Sports, the parent company of Arc'teryx, Salomon, Wilson, Peak Performance, and Atomic.

安踏成立于1991年，并于2007年在中国香港交易所主板上市。其品牌组合包括安踏、斐乐、迪桑特、可隆体育、玛伊娅（Maia Active）和狼爪（Jack Wolfskin）。公司同时还是亚玛芬体育（Amer Sports）的最大股东，后者旗下拥有始祖鸟、萨洛蒙、威尔胜、Peak Performance和Atomic等品牌。

portfolio /pɔːtˈfəʊliəʊ/ 很久没出现了，很早之前在88岁股神巴菲特日喝5罐可乐一文中出现过：Even though Apple stock is a major part of Berkshire Hathaway's portfolio, Buffett still uses a flip phone that he showed off on CNN. 表示“（某人或某公司持有的）有价证券组合，投资组合”（a group of stock s owned by a particular person or compan），如：an investment portfolio 投资组合。

此外，portfolio还有多个不同含义：1）表示“公事包，文件夹；画夹”（a large flat case used especially for carrying pictures, documents etc）

2）表示“部长（大臣）的职责”（the work that a particular government official is responsible for）

3）表示“（艺术家、摄影师等的）作品选集”（a set of pictures or other pieces of work that an artist, photographer etc has done）

4）表示“（公司或机构提供的）系列产品，系列服务”（the range of products or services offered by a particular company or organization）如：a portfolio of wines 系列葡萄酒。

For months, sale speculation has been swirling around the brand.

数月来，市场一直盛传彪马将出售的消息。

speculation /ˌspek.jəˈleɪ.ʃən/ 1）表示“推测；猜测；推断”，英文解释为“the act of forming opinions about what has happened or what might happen without knowing all the facts”举个🌰：There was widespread speculation that she was going to resign. 人们纷纷推测她将辞职。

2）表示“投机，投机买卖”，英文解释为“the act of speculating in order to make a profit”

swirl /swɜːl/ 原意表示“使（液态、流动的物质）快速旋流；（液态、流动的物质）快速旋流”，英文解释为“If you swirl something liquid or flowing, or if it swirls, it moves around and around quickly.”

可以引申为“流传，传播”的意思，类似于spread或者是circulate，举个🌰：Rumours have swirled for years that he is on the point of retiring. 多年来一直有传言说他快要退休了。

📍circulate有“传播；流传；散布”的含义（if a story, an idea, information, etc. circulates or if you circulate it, it spreads or it is passed from one person to another），举个🌰：Rumours began to circulate about his financial problems. 有关他财务困难的谣言开始流传开来。

Shares of Puma SE ticked up in September over buzz that its rival Adidas might be interested in acquiring the brand. Two days later, shares of Puma rose again over speculation that brand management firm Authentic Brands Group and private equity firm CVC would be throwing their hats into the ring.

今年9月，因传出竞争对手阿迪达斯可能有意收购彪马的消息，彪马股价小幅上涨。两天后，又因猜测品牌管理公司Authentic Brands Group和私募股权公司CVC也可能参与竞购，彪马股价再次走高。

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