Li Ning (02331) continued to increase by more than 4%. As of press time, it rose 4.11% to HK$19.26, with a turnover of HK$69.87 million.
The Zhitong Finance App learned that Li Ning (02331) continued to rise by more than 4% and rose 4.11% at press time to HK$19.26, with a turnover of HK$69.87 million.
According to the news, the company announced that for the first quarter ended March 31, 2024, retail sales at Li Ning sales points (excluding Li Ning YOUNG) achieved a low year-on-year increase in retail sales volume across the entire platform. As far as channels are concerned, offline channels (including retail and wholesale) achieved a decline in the number of units obtained. Among them, the number of units obtained by retail (direct management) channels increased, while the number of units acquired by wholesale (authorized dealers) channels decreased; and the e-commerce virtual store business achieved a low level of 20% to 30%.
According to a research report, Jefferies believes that the company's cash flow remains strong compared to its profits. The increase in e-commerce sales in the first quarter of 2024 shows that the company has basically solved the resale problem, and the price reduction trend also shows that the company's e-commerce inventory has recovered to health. The bank expects Li Ning to start in the summer of 2024, including more urban outdoor products. It is believed that physical stores will recover in 2024. Furthermore, investors are expected to pay new attention to Li Ning's value creation, and the company is expected to make more positive progress in 2024.