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<Research>Daiwa: LI NING (02331.HK) 2025 Results Significantly Beat
LI NING (02331.HK)'s 2025 results significantly beat the estimations of both the market and Daiwa, Daiwa published a research report saying. The data shows that the 2H25 revenu...
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<Research>Daiwa: LI NING (02331.HK) 2025 Results Significantly Beat
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LI NING (02331.HK)  0.000 (0.000%)    Short selling $167.05M; Ratio 173.206%   's 2025 results significantly beat the estimations of both the market and Daiwa, Daiwa published a research report saying.

The data shows that the 2H25 revenue was RMB14.8 billion, up 3.3% YoY, 3.8-4.2% higher than the forecasts of Daiwa/ market each. Therefore, the broker rated LI NING at Buy.

Daiwa believed that the better-than-expectation results were mainly due to the Company's franchise/ wholesale business, and were likely driven by a strong results rebound in 4Q25. Its 2H25 gross profit margin was 47.9%, in line with Daiwa's projection, but 0.3 ppts ahead of market consensus.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-02 16:25.)

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