＜Research＞JPM Slightly Cuts LI NING (02331.HK) TP to $13.8 as Challenges Continue

　　JPMorgan has released a research report, expecting that LI NING (02331.HK) +0.100 (+0.684%) Short selling $18.53M; Ratio 24.321% will report a 10% YoY drop in its 1H24 earnings. Among which, sales will grow by 1%, GPM will climb by 0.8 ppts, and SG&A expenses will rise by 1.8 ppts.

　　The broker predicts LI NING's retail sales in 2Q24 to remain flat to LSD growth and its offline business to underperform its online business, reflecting a decline in its market share against its peers.

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　　Based on LI NING's weak retail sales performance in 2Q24 and the challenges amid macro uncertainties, JPMorgan lowered the TP of LI NING from $14 to $13.8 and maintained an Underweight rating.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-26 12:25.)

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