On September 9, LI NING fell 5.41% in regular trading, trading at HK$13.46/share, with turnover of HK$127 million. The decline comes amid persistent concerns over soft terminal demand and broader weakness across the sportswear sector.

LI NING previously reported H1 revenue of RMB 15.235 billion, up 2.8% year-over-year, with net profit of RMB 1.816 billion, up 4.5%. However, management explicitly lowered full-year revenue guidance to low single-digit growth, noting that terminal demand has remained soft since Q2 with no signs of improvement through mid-to-late August. Gross margin improved 0.9 percentage points to 50.9%, but advertising and promotional expense ratios rose 2.2 percentage points, reflecting increased spending tied to strategic initiatives including the Stephen Curry partnership.

While Viva Goods has been aggressively accumulating shares, acquiring approximately 65.4 million shares for HK$874 million between late August and early September to raise its stake to roughly 19%, signaling long-term confidence, the market remains cautious on near-term fundamentals. Multiple brokerages have trimmed price targets, with Nomura cutting to HK$13.80 and Morgan Stanley lowering its estimate to HK$22.50, both citing weakening sales trends and rising promotional costs.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)