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Looking at Li Ning's (02331) 2023 financial report: stable gross margin of 48.4%, high quality brand strength supports performance resilience
If Li Ning's strong brand power provides the driving force for the company's performance, then the development momentum of the sports consumer industry has opened up Li Ning's growth ceiling.
Li Ning (02331.HK) financial report: Inventory removal effect is obvious, commercial operation ability is excellent, and light weight can be expected
Recently, Li Ning Co., Ltd. (hereinafter referred to as “Li Ning”, 02331.HK), a leading domestic sportswear brand listed in Hong Kong, released its 2023 financial report. Last year, it achieved revenue of 27.598 billion yuan, an increase of 7% over the previous year; it achieved net profit of 3.187 billion yuan and a net interest rate of 11.5%. Net operating cash for the year was 4.688 billion yuan, an increase of 19.8% over the previous year.
[Broker Focus] CITIC Construction Investment maintains Li Ning's (02331) “buy” rating and is still in a slow recovery phase at 24Q1
Jin Wu Financial News | According to the CITIC Construction Investment Research Report, Li Ning (02331)'s revenue growth slowed in 2023, mainly due to slow recovery in passenger flow, increased e-commerce competition, and the company's control of franchisee shipments in the second half of the year under channel trading; due to the increase in sales expenses mentioned by impairment measures, net profit returned to mother was under pressure in '23. The running and fitness categories performed well with improved product strength and continuous improvement of the matrix, while the basketball category was weak; at the end of '23, there were 7,668 stores/ +0.9%. Channel inventory turnover fell to 3.6 months at the end of '23. Looking ahead, it is expected that 24Q1 will still be in a slow recovery phase. The company
[Broker Focus] Open Source Securities maintains Li Ning's (02331) “buy” rating and expects its channel inventory to return to health
Jinwu Financial News | According to Open Source Securities Research, Li Ning (02331) achieved revenue of 27.598 billion yuan (+7% year over year, same below), net profit of 3.187 billion yuan (-21.6%), net profit after deducting non-return to mother of 3,046 billion yuan (-25%), net profit margin of 11.5% (-4.2pct), and dividend rate of 45% in 2023. According to the bank, the company's gross profit margin in 2023 was 48.4%, the same as the previous year. The main reason was that online average discounts deepened orders due to increased e-commerce competition. The sales/management/finance expense ratio was 32.9%/4.6%/1.2%, +4 year over year
Nomura Adjusts Li Ning's Price Target to HK$33.20 From HK$38.00, Keeps at Buy
05:24 AM EDT, 03/21/2024 (MT Newswires) -- Nomura Adjusts Li Ning's Price Target to HK$33.20 From HK$38.00, Keeps at Buy Price (HKD): $21.25, Change: $-0.20, Percent Change: -0.93%
Li Ning's Sales May Pick Up Gradually -- Market Talk
0526 GMT - Li Ning shares have notched sharp gains since late January amid strong Lunar New Year sales, and CCB International analysts Anita Chu and Anita Du say the stock's valuation fully reflects t
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