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Li Ning responded to the controversy over the sweat absorption of the 'dragon robe' and has not received any feedback on quality issues at present.
On August 7th, Li-Ning responded to the controversy surrounding the moisture-wicking performance of their competition uniform "Dragon Uniform", stating that Li-Ning has always placed high importance on the wearing experience of athletes' competition uniforms. Coaches and athletes on the Chinese Table Tennis team have expressed their approval of the competition uniforms provided by Li-Ning. Currently, there has been no feedback regarding product quality issues. It is understood that during the 2024 Paris Olympics, Li-Ning designed three "Dragon Uniforms" for the Chinese Table Tennis team. However, some netizens have expressed that some players on the Chinese Table Tennis team frequently adjust their shorts during intense competitions, suggesting that the shorts may be sticking to their skin due to poor moisture-wicking performance.
Guosen Securities: Olympics help various brands promote new marketing, and search and discussion heat of sports brands has increased.
The Paris Olympics will open on July 27th, and sports brands will boost their popularity by sponsoring national teams, launching Olympic-related products, and holding related marketing activities.
Li Ning (02331.HK) held a board of directors meeting on August 15th to approve the release of its mid-term performance.
Li Ning (02331.HK) announced that the company will hold a board of directors meeting on August 15, 2024 (Thursday), in order to approve the release of the mid-term performance announcement of the company and its subsidiaries for the six months ending on June 30, 2024, and to consider declaring interim dividends (if applicable).
DATE OF BOARD MEETING
Statistics on Short selling of Zhongtong Hong Kong stocks| August 5th.
Short selling statistics of Hong Kong stock market | August 5th.
Li Ning (02331) fell by 5.89% in the Hong Kong stock connect. DBS Bank pointed out that it may face pressure from consumer and wholesale channels in the first half of the year, which cut the target price by nearly 30%.
Li Ning (02331) fluctuated lower in early trading, down 5.89% and trading at HKD 13.74, with a turnover of HKD 0.216 billion at the time of writing. DBS Bank's research report indicated that with the continuous increase in per capita sports consumption, it is expected that Li Ning's sales in fiscal year 2024 and fiscal year 2025 will increase by 4% and 8%, respectively; while the gross margin is expected to decrease by 0.5 percentage points and rebound by 0.1 percentage points, respectively. The report pointed out that Li Ning's performance in the first half of this year may be affected by weakened consumer purchasing willingness and sales pressure faced by wholesale channels. However, the company is expected to