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<Research>Citi: LI NING (02331.HK) 2025 NP Beats Forecast by 9%; Sales Expenses Below Prediction
Recommend 1 Positive 5 Negative 6 |
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Although LI NING (02331.HK)'s 3% YoY incline in 2025 revenue was in line with expectation, its net profit beat market consensus by 9%, Citi Research issued a research report saying. This was attributed to significant cost savings from a net reduction in direct-sale stores, with sales expenses remaining flat YoY and below expectations. Notably, during the period, the Group's depreciation of fixed assets decreased by 35% YoY to RMB710 million, while depreciation of right-of-use assets slipped by 19% YoY to RMB498 million. Therefore, the broker kept its target price at $22 and rating at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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