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<Research>CICC Raises LI NING (02331.HK) TP to $27.5 on Good Operations, Keeps Outperform Rating
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LI NING (02331.HK)'s 2025 revenue grew by 3% YoY to RMB29.6 billion, while net profit attributable to the parent company decreased by 3% YoY to RMB2.9 billion, according to a research report issued by CICC. The results were better than CICC's expectation, mainly due to good cost control. The Company declared a final DPS of RMB23.36 cents, corresponding to a full-year dividend yield of 50%. Due to the Company's decent operational performance, the broker raised its 2026/ 2027 EPS forecasts by 9%/ 10% to RMB1.19/ RMB1.31 each. The current share price corresponds to a projected PE ratio of 16x/ 14x for 2026/ 2027. Therefore, CICC kept rating at Outperform. The continuous improvement in operations led to an increase in valuation, prompting the broker to raise its target price by 13% to $27.5. AASTOCKS Financial News Website: www.aastocks.com |
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