Chinese authorities launched an investigation after a fireworks show in Tibet sponsored by the outdoor gear maker Arc’teryx sparked backlash on social media due to concerns about its environmental impact.

A team has been sent to investigate, the municipal government in Shigatse said in a statement Sunday. Arc’teryx — a brand of Hong Kong-traded Anta Sports Products Ltd. — apologized and pledged remedial actions in a statement posted on its Weibo account Sunday, acknowledging an insufficient assessment of the boundaries of artistic expression.

Anta shares fell as much as 7.3% on Monday, the most in three weeks.

The incident could lead to Anta missing the second-half and 2026 pretax profit consensus by 6%, Bloomberg Intelligence analyst Catherine Lim said in a note. Erosion of consumer

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