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Li Ning (02331) fell 37.40%, now trading at 13.780 yuan, hitting a 52-week low.
As of 11:47, Li Ning (02331) has fallen 37.40% compared to the previous closing price, now at 13.780 yuan, hitting a 52-week low; with a volume of 9.0598 million shares and a turnover of 125.1543 million Hong Kong dollars.
INTERIM REPORT 2024
[Brokerage Focus] Haitong Securities maintains a "outperform" rating on Li Ning (02331), stating that its income is steadily growing and its professional attributes are further strengthened.
Jingu Financial News | Haitong Securities released a research report, stating that Li Ning (02331) achieved revenue of 14.35 billion yuan in the first half of 2024, a year-on-year increase of 2.3%; gross margin was 50.4%, a year-on-year increase of 1.6 percentage points; net income was 1.95 billion yuan, a year-on-year decrease of 8.0%; and net margin was 13.6%, a year-on-year decrease of 1.5 percentage points. In the first half of 2024, China's apparel retail accumulated a year-on-year increase of 0.8%. Facing macro pressure, the company maintained steady operation and still achieved positive growth in revenue. The bank continued to point out that according to the breakdown of category flow growth rate, the 24H1 company's running/fitness/basketball/sports life flow increased by 25%/+
Brokerage firm Zheshang Securities maintained a “buy” rating for Li Ning (02331) and stated that its operation quality is stable with an increased dividend rate.
Jingu Finance News | Zheshang Securities issued a research report stating that Li Ning (02331) had a low single-digit decline in overall revenue in the first half of the year, with low single-digit growth in 24Q1 and low single-digit decline in 24Q2. Looking at the revenue breakdown in 24Q2, direct sales revenue remained flat year-on-year, wholesale revenue saw a high single-digit decline, while e-commerce revenue grew by a high single-digit. The bank said that based on the revenue reported in the first half of the year, footwear performed steadily, while outfits fluctuated slightly: footwear revenue was 7.84 billion, up 4.4% year-on-year, outfit revenue was 5.38 billion, down 4.7% year-on-year, and equipment and accessories revenue was 1.13 billion, up 30.3% year-on-year. By product category,
Li Ning has held steady during the sports season.
Footwear business contributes the most.
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