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[Broker Focus] Cathay Pacific Jun An Yu Li Ning (02331) “gain” rating indicates that its product strength is leading the industry and annual turnover performance is worth looking forward to
Jinwu Financial News | According to Guotai Junan Research, 2024 is a major sports year, and it is expected that new product sales and marketing initiatives will be implemented to drive revenue growth. The Paris Olympics are about to open in July. Starting in Q2, the company will launch Olympic sales and release new products one after another. Li Ning (02331) has made many efforts to integrate marketing resources, plan and build brands, and sort out brand personnel. H2 will use the Olympics to carry out a series of themed activities. Considering the base figure (2023Q2/3/4 turnover growth, medium single/low double), and the new pace of store opening and product sales, it is expected that H2 turnover and the same store growth rate will be superior to H1. The company has scarce professional transportation
Tianfeng Securities: Maintaining Li Ning's “Buy” Rating, Technological Innovation as the Main Line of Brand Growth
Tianfeng Securities released a research report stating that maintaining Li Ning's (02331) “buy” rating, the estimated revenue for 24-26 will be RMB 29.3 billion, RMB 32.1 billion, and RMB 35 billion, respectively, and net profit to mother will be RMB 3.4 billion, RMB 3.9 billion, and RMB 4.4 billion respectively, and EPS will be 1.3 yuan/share, 1.5 yuan/share, and 1.7 yuan/share, respectively. The company focuses on the “single brand, multi-category, multi-channel” strategy, continuously strengthens the brand's professional sports product layout, and further enhances retail operation capabilities and channel efficiency. According to the report, the company has long been committed to investing in R&D and innovation.
CICC: Maintaining Li Ning's (02331) “outperforming the industry” rating, and raising the target price to HK$25.33
CICC maintained Li Ning's (02331) earnings forecast of 1.25 and 1.44 yuan per share for 2024 and 2025.
China Merchants Securities: Different Anta Sports products preferred by the sportswear industry make differences in growth
China Merchants Securities released a research report stating that Anta Sports (02020) is still the first choice for the sportswear industry. Its brands cover high-end, outdoor and mass markets, so the group is the company that can seize market growth opportunities the most among domestic sportswear brand companies. The bank gave it a target price of HK$99.8, and the rating was “increased.” In addition, the running business of TEP International (01368) should also enable it to achieve higher growth than the industry. The target price is HK$6.6, and the rating is “increased”; while before diversification of the product line is achieved, Li Ning (02331)'s growth will slow down. The target price is HK$25.6.
Hong Kong Stock Concept Tracking | Sports footwear industry's booming circuit trend continues, institutions focus on left-hand opportunities for sports and menswear brands (with concept stocks)
According to Euromonitor's forecast, in 2023-2028, the global sports footwear market is expected to grow from US$395.5 billion to US$544 billion, with a compound growth rate of 7%, faster than consumer industries such as personal accessories, beauty and personal care, and home appliances.
[Special Offer V] Deng Shengxing: The optimistic situation of Hong Kong stocks is expected to rise to 20,000 points
Jinwu Financial News | The Hang Seng Index closed at 19636 points on Monday (20th), up 82 points or 0.42%, and traded 156.4 billion yuan throughout the day. The national index rose 30 points, or 0.44%, to 6964; the index rose 0.55% to 4135. Yingfu (02800) rose 0.5% to 19.81 yuan, with the highest turnover of 10.811 billion yuan. “ATM” outperformed the market today. Tencent (00700) did not rise or fall; Alibaba (09988) fell 0.4%; and Meituan (03690) fell 0.8%. Li Ning (02331) rose 7.3% to become the best blue chip performer for the whole day.
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