View ValuationLi Ning 将来の成長Future 基準チェック /16Li Ning利益と収益がそれぞれ年間8.7%と6.1%増加すると予測されています。EPS は年間 増加すると予想されています。自己資本利益率は 3 年後に11.8% 8.6%なると予測されています。主要情報8.7%収益成長率8.59%EPS成長率Luxury 収益成長9.3%収益成長率6.1%将来の株主資本利益率11.76%アナリストカバレッジGood最終更新日29 May 2026今後の成長に関する最新情報更新なしすべての更新を表示Recent updatesBoard Change • May 20Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 5 highly experienced directors. Independent Non-Executive Director Yajuan Wang was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.お知らせ • Mar 20Li Ning Company Limited, Annual General Meeting, Jun 11, 2026Li Ning Company Limited, Annual General Meeting, Jun 11, 2026, at 11:00 China Standard Time.お知らせ • Mar 09Li Ning Company Limited to Report Fiscal Year 2025 Results on Mar 19, 2026Li Ning Company Limited announced that they will report fiscal year 2025 results on Mar 19, 2026お知らせ • Nov 27Anta Sports Reportedly Exploring Bid for PumaChinese sportswear maker ANTA Sports Products Limited (SEHK:2020) is among firms exploring a potential takeover of German sportswear brand PUMA SE (XTRA:PUM), Bloomberg News reported on November 27, 2025. Hong Kong-listed Anta has been working with an adviser to evaluate a bid for Puma, and the company may team up with a private equity firm if it decides to move forward with an offer, the Bloomberg report said, citing people familiar with the matter. Other potential bidders could include Chinese sportswear group Li Ning Company Limited (SEHK:2331), which has been discussing financing options with banks as it takes an early look at Puma, according to the report. Puma may also attract interest from Japanese sportswear company ASICS Corporation (TSE:7936), the report said. Anta Sports, Puma, and Asics did not immediately respond to Reuters‘ requests for comment. Li-Ning said in an emailed statement to Reuters that the company “has not engaged in any substantive negotiations or evaluations regarding the transaction mentioned in the news”, adding that the company continues to focus on the growth and development of its brand. Puma’s biggest shareholder Artemis, the privately-owned holding company that controls Gucci owner Kering, has said it is considering all options for its 29% stake, though a source close to the firm told Reuters in September it would not sell at the market value then. Puma’s market valuation is currently at EUR 2,520 million ($2,920 million), according to LSEG data. The Pinault family, which controls Artemis, acquired its Puma stake in 2018 from Kering when the luxury group transformed into a pure luxury player focused on brands like Gucci and Saint Laurent.お知らせ • Aug 26Pinault Family Reportedly Seeks Potential Buyers for PumaThe Pinault family has reached out to potential buyers of PUMA SE (XTRA:PUM) after the German sports brand lost about half of its market value in the past year, according to people familiar with the matter. The billionaire family, which owns a 29% stake in Frankfurt-listed Puma through Artemis, is working with advisers, possibly with a view to triggering a sale of the company, the people said, asking not to be identified because the deliberations are private. They have reached out to prospective bidders including ANTA Sports Products Limited (SEHK:2020) and Li Ning Company Limited (SEHK:2331) to gauge interest in buying Puma, the people said, adding they have also sounded out other sportswear firms in the US, as well as sovereign wealth funds in the Middle East. Puma shares surged as much as 20% in German trading following the report, the most since October 2001. It has a market value of about EUR 3.3 billion. The family is likely to seek a sizable premium in any deal, the people said. Artemis is also the controlling shareholder of Kering. Deliberations are ongoing and there is no guarantee a transaction will happen, the people said. A spokesperson for Puma declined to comment, while representatives for Artemis, Anta and Li Ning didn't respond to requests seeking comment.お知らせ • Aug 22Li Ning Company Limited Announces Interim Dividend for the Six Months Ended June 30, 2025, Payable on September 16, 2025Li Ning Company Limited announced interim dividend of RMB 0.3359 per share for the six months ended June 30, 2025. Ex-dividend date: September 3, 2025. Record date: September 8, 2025. Payment date: September 16, 2025.お知らせ • Aug 11Li Ning Company Limited to Report First Half, 2025 Results on Aug 21, 2025Li Ning Company Limited announced that they will report first half, 2025 results on Aug 21, 2025お知らせ • Jun 12Li Ning Company Limited Approves Final Dividend for the Year Ended 31 December 2024, Payable on 27 June 2025Li Ning Company Limited at its annual general meeting held on 12 June 2025, approved to declare and pay a final dividend of RMB 20.73 cents per Share for the year ended 31 December 2024 and authorise any Director to take such action, do such things and execute such further documents as the Director may at his/her absolute discretion consider necessary or desirable for the purpose of or in connection with the implementation of the payment of the final dividend. Ex-dividend date is 16 June 2025. Record date is 19 June 2025. Payment date is 27 June 2025.お知らせ • Mar 28Li Ning Company Limited, Annual General Meeting, Jun 12, 2025Li Ning Company Limited, Annual General Meeting, Jun 12, 2025, at 11:00 China Standard Time.お知らせ • Mar 17Li Ning Company Limited to Report Fiscal Year 2024 Results on Mar 27, 2025Li Ning Company Limited announced that they will report fiscal year 2024 results on Mar 27, 2025お知らせ • Sep 16Li Ning Company Limited Announces Change of Principal Place of Business in Hong KongThe board of directors of Li Ning Company Limited announced that, with effect from 16 September 2024, the principal place of business in Hong Kong of the Company has been changed to 25/F - 28/F, Hong Kong Li-Ning Building, 218 Electric Road, Fortress Hill, Hong Kong.Declared Dividend • Aug 19First half dividend of HK$0.41 announcedShareholders will receive a dividend of HK$0.41. Ex-date: 29th August 2024 Payment date: 11th September 2024 Dividend yield will be 4.7%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 34% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Aug 17First half 2024 earnings released: EPS: CN¥0.76 (vs CN¥0.81 in 1H 2023)First half 2024 results: EPS: CN¥0.76 (down from CN¥0.81 in 1H 2023). Revenue: CN¥14.3b (up 2.3% from 1H 2023). Net income: CN¥1.95b (down 8.0% from 1H 2023). Profit margin: 14% (down from 15% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Luxury industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 47% per year, which means it is performing significantly worse than earnings.お知らせ • Aug 16Li Ning Company Limited Announces Interim Dividend for the Six Months Ended 30 June 2024, Payable on 11 September 2024Li Ning Company Limited announced interim dividend of RMB 0.3775 per share for the six months ended 30 June 2024. Ex-dividend date is 29 August 2024. Record date is 03 September 2024. Payment date is 11 September 2024.お知らせ • Aug 05Li Ning Company Limited to Report First Half, 2024 Results on Aug 15, 2024Li Ning Company Limited announced that they will report first half, 2024 results on Aug 15, 2024お知らせ • Jun 14Li Ning Company Limited Approves Final Dividend for the Year Ended 31 December 2023, Payable on 28 June 2024Li Ning Company Limited announced that at its AGM held on 13 June 2024, the shareholders approved final dividend of RMB 0.1854 per share for the year ended 31 December 2023. Ex-dividend date is 17 June 2024. Record date is 20 June 2024. Payment date is 28 June 2024.お知らせ • Jun 13Li Ning Company Limited Announces Change of Composition of Remuneration CommitteeThe board of directors of Li Ning Company Limited announced the following changes in the composition of the remuneration committee of the Board with effect from 12 June 2024: Ms. Wang Yajuan, an independent non-executive director of the Company, has been appointed as a member of the Remuneration Committee; and Mr. Li Qilin, an executive director of the Company, has ceased to be a member of the Remuneration Committee but will remain as an executive director of the Company. Following the above changes, the Remuneration Committee continues to be chaired by Ms. Wang Ya Fei, an independent non-executive director of the Company, and comprises a majority of independent non-executive directors of the Company.Upcoming Dividend • Jun 10Upcoming dividend of CN¥0.19 per shareEligible shareholders must have bought the stock before 17 June 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 44% and the cash payout ratio is 81%. Trailing yield: 2.8%. Lower than top quartile of Hong Kong dividend payers (7.6%). In line with average of industry peers (3.1%).Buy Or Sell Opportunity • May 23Now 24% undervaluedOver the last 90 days, the stock has risen 8.6% to HK$22.70. The fair value is estimated to be HK$29.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 7.1% per annum. Earnings are also forecast to grow by 10% per annum over the same time period.Valuation Update With 7 Day Price Move • Apr 25Investor sentiment improves as stock rises 15%After last week's 15% share price gain to HK$19.90, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 8x in the Luxury industry in Hong Kong. Total loss to shareholders of 68% over the past three years.Reported Earnings • Apr 24Full year 2023 earnings released: EPS: CN¥1.23 (vs CN¥1.55 in FY 2022)Full year 2023 results: EPS: CN¥1.23 (down from CN¥1.55 in FY 2022). Revenue: CN¥27.6b (up 7.0% from FY 2022). Net income: CN¥3.19b (down 22% from FY 2022). Profit margin: 12% (down from 16% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Luxury industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings.Declared Dividend • Mar 22Final dividend of CN¥0.19 announcedShareholders will receive a dividend of CN¥0.19. Ex-date: 17th June 2024 Payment date: 28th June 2024 Dividend yield will be 2.7%, which is lower than the industry average of 3.3%. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 44% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Mar 21Full year 2023 earnings released: EPS: CN¥1.23 (vs CN¥1.55 in FY 2022)Full year 2023 results: EPS: CN¥1.23 (down from CN¥1.55 in FY 2022). Revenue: CN¥27.6b (up 7.0% from FY 2022). Net income: CN¥3.19b (down 22% from FY 2022). Profit margin: 12% (down from 16% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Luxury industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings.お知らせ • Mar 20+ 1 more updateLi Ning Company Limited, Annual General Meeting, Jun 13, 2024Li Ning Company Limited, Annual General Meeting, Jun 13, 2024, at 11:00 China Standard Time. Agenda: To consider dividend.Valuation Update With 7 Day Price Move • Mar 12Investor sentiment improves as stock rises 18%After last week's 18% share price gain to HK$22.10, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 8x in the Luxury industry in Hong Kong. Total loss to shareholders of 50% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$42.68 per share.お知らせ • Mar 08Li Ning Company Limited to Report Fiscal Year 2023 Results on Mar 19, 2024Li Ning Company Limited announced that they will report fiscal year 2023 results on Mar 19, 2024New Risk • Jan 24New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 9.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.8% average weekly change).Valuation Update With 7 Day Price Move • Jan 22Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to HK$15.12, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 7x in the Luxury industry in Hong Kong. Total loss to shareholders of 70% over the past three years.Valuation Update With 7 Day Price Move • Oct 26Investor sentiment deteriorates as stock falls 24%After last week's 24% share price decline to HK$23.95, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 7x in the Luxury industry in Hong Kong. Total loss to shareholders of 39% over the past three years.Upcoming Dividend • Aug 16Upcoming dividend of HK$0.40 per share at 2.0% yieldEligible shareholders must have bought the stock before 23 August 2023. Payment date: 06 September 2023. Trailing yield: 2.0%. Lower than top quartile of Hong Kong dividend payers (7.7%). Lower than average of industry peers (2.6%).Reported Earnings • Aug 12First half 2023 earnings released: EPS: CN¥0.81 (vs CN¥0.84 in 1H 2022)First half 2023 results: EPS: CN¥0.81 (down from CN¥0.84 in 1H 2022). Revenue: CN¥14.0b (up 13% from 1H 2022). Net income: CN¥2.12b (down 3.1% from 1H 2022). Profit margin: 15% (down from 18% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Luxury industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Buying Opportunity • Aug 08Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 17%. The fair value is estimated to be HK$53.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings is also forecast to grow by 15% per annum over the same time period.お知らせ • Aug 01Li Ning Company Limited to Report First Half, 2023 Results on Aug 10, 2023Li Ning Company Limited announced that they will report first half, 2023 results on Aug 10, 2023Buying Opportunity • Jul 07Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 33%. The fair value is estimated to be HK$49.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings is also forecast to grow by 16% per annum over the same time period.New Risk • Jun 23New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 20% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. This is currently the only risk that has been identified for the company.お知らせ • Jun 15Li Ning Company Limited Declares Final Dividend for the Year Ended 31 December 2022Li Ning Company Limited held its annual general meeting on June 14, 2023, declared and pay a final dividend of RMB 46.27 cents per Share for the year ended 31 December 2022 out of the share premium account of the Company and authorise any Director to take such action, do such things and execute such further documents as the Director may at his/her absolute discretion consider necessary or desirable for the purpose of or in connection with the implementation of the payment of the final dividend.Upcoming Dividend • Jun 09Upcoming dividend of CN¥0.46 per share at 1.1% yieldEligible shareholders must have bought the stock before 16 June 2023. Payment date: 30 June 2023. Trailing yield: 1.1%. Lower than top quartile of Hong Kong dividend payers (7.7%). Lower than average of industry peers (2.6%).Reported Earnings • Mar 18Full year 2022 earnings released: EPS: CN¥1.55 (vs CN¥1.60 in FY 2021)Full year 2022 results: EPS: CN¥1.55. Revenue: CN¥25.8b (up 14% from FY 2021). Net income: CN¥4.06b (up 1.3% from FY 2021). Profit margin: 16% (down from 18% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Luxury industry in Hong Kong.Recent Insider Transactions • Jan 12Independent Non Executive Director recently sold HK$2.2m worth of stockOn the 9th of January, Chung Bun Chan sold around 30k shares on-market at roughly HK$72.30 per share. This transaction amounted to 91% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$7.3m more than they bought in the last 12 months.Valuation Update With 7 Day Price Move • Dec 02Investor sentiment improved over the past weekAfter last week's 15% share price gain to HK$61.60, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 7x in the Luxury industry in Hong Kong. Total returns to shareholders of 140% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$79.54 per share.Board Change • Nov 16Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Joint CEO & Executive Director Takeshi Kosaka was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Valuation Update With 7 Day Price Move • Nov 05Investor sentiment improved over the past weekAfter last week's 17% share price gain to HK$49.40, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 7x in the Luxury industry in Hong Kong. Total returns to shareholders of 97% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$79.64 per share.Board Change • Nov 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Joint CEO & Executive Director Takeshi Kosaka was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Valuation Update With 7 Day Price Move • Oct 14Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to HK$56.15, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 7x in the Luxury industry in Hong Kong. Total returns to shareholders of 114% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$95.34 per share.Board Change • Oct 02Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Joint CEO & Executive Director Takeshi Kosaka was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Aug 13First half 2022 earnings released: EPS: CN¥0.84 (vs CN¥0.79 in 1H 2021)First half 2022 results: EPS: CN¥0.84 (up from CN¥0.79 in 1H 2021). Revenue: CN¥12.4b (up 22% from 1H 2021). Net income: CN¥2.19b (up 12% from 1H 2021). Profit margin: 18% (down from 19% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 19%, compared to a 15% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth.Recent Insider Transactions • Jul 12Independent Non Executive Director recently sold HK$5.1m worth of stockOn the 7th of July, Chung Bun Chan sold around 70k shares on-market at roughly HK$73.47 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$36m more than they bought in the last 12 months.Upcoming Dividend • Jun 10Upcoming dividend of CN¥0.46 per shareEligible shareholders must have bought the stock before 17 June 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Hong Kong dividend payers (7.7%). Lower than average of industry peers (2.1%).Valuation Update With 7 Day Price Move • Jun 01Investor sentiment improved over the past weekAfter last week's 21% share price gain to HK$61.20, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 9x in the Luxury industry in Hong Kong. Total returns to shareholders of 373% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$116 per share.Reported Earnings • Apr 13Full year 2021 earnings released: EPS: CN¥1.60 (vs CN¥0.69 in FY 2020)Full year 2021 results: EPS: CN¥1.60 (up from CN¥0.69 in FY 2020). Revenue: CN¥22.6b (up 56% from FY 2020). Net income: CN¥4.01b (up 136% from FY 2020). Profit margin: 18% (up from 12% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 20%, compared to a 19% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has increased by 67% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Apr 12Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to HK$57.00, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 9x in the Luxury industry in Hong Kong. Total returns to shareholders of 331% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$107 per share.Valuation Update With 7 Day Price Move • Sep 25Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to HK$88.70, the stock trades at a forward P/E ratio of 46x. Average forward P/E is 10x in the Luxury industry in Hong Kong. Total returns to shareholders of 155% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$72.40 per share.Recent Insider Transactions • Sep 07Independent Non Executive Director recently sold HK$10.0m worth of stockOn the 6th of September, Chung Bun Chan sold around 100k shares on-market at roughly HK$99.93 per share. In the last 3 months, there was an even bigger sale from another insider worth HK$18m. Insiders have been net sellers, collectively disposing of HK$321m more than they bought in the last 12 months.Recent Insider Transactions • Aug 19Independent Non Executive Director recently sold HK$18m worth of stockOn the 18th of August, Ya Fei Wang sold around 186k shares on-market at roughly HK$94.96 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$323m more than they bought in the last 12 months.Reported Earnings • Aug 15First half 2021 earnings released: EPS CN¥0.79 (vs CN¥0.28 in 1H 2020)The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥10.2b (up 65% from 1H 2020). Net income: CN¥1.96b (up 187% from 1H 2020). Profit margin: 19% (up from 11% in 1H 2020). The increase in margin was driven by higher revenue.Executive Departure • Jul 14Independent Non-Executive Director Jing Shyh Su has left the companyOn the 5th of July, Jing Shyh Su's tenure as Independent Non-Executive Director ended after 9.0 years in the role. We don't have any record of a personal shareholding under Jing Shyh's name. Jing Shyh is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 3.08 years.Recent Insider Transactions • Jul 08Independent Non Executive Director recently sold HK$8.9m worth of stockOn the 6th of July, Chung Bun Chan sold around 100k shares on-market at roughly HK$88.55 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$303m more than they bought in the last 12 months.Upcoming Dividend • Jun 09Upcoming dividend of CN¥0.20 per shareEligible shareholders must have bought the stock before 16 June 2021. Payment date: 29 June 2021. Trailing yield: 0.3%. Lower than top quartile of Hong Kong dividend payers (6.0%). Lower than average of industry peers (1.0%).Reported Earnings • Apr 14Full year 2020 earnings released: EPS CN¥0.69 (vs CN¥0.62 in FY 2019)The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CN¥14.5b (up 4.2% from FY 2019). Net income: CN¥1.70b (up 13% from FY 2019). Profit margin: 12% (in line with FY 2019).Recent Insider Transactions • Apr 09Independent Non Executive Director recently sold HK$1.6m worth of stockOn the 7th of April, Chung Bun Chan sold around 30k shares on-market at roughly HK$54.63 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$297m more than they bought in the last 12 months.Reported Earnings • Mar 21Full year 2020 earnings released: EPS CN¥0.69 (vs CN¥0.62 in FY 2019)The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CN¥14.5b (up 4.2% from FY 2019). Net income: CN¥1.70b (up 13% from FY 2019). Profit margin: 12% (in line with FY 2019).Is New 90 Day High Low • Mar 09New 90-day low: HK$41.00The company is down 5.0% from its price of HK$43.15 on 09 December 2020. The Hong Kong market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$40.59 per share.Valuation Update With 7 Day Price Move • Feb 27Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to CN¥43.60, the stock is trading at a trailing P/E ratio of 63.8x, down from the previous P/E ratio of 76.1x. This compares to an average P/E of 14x in the Luxury industry in Hong Kong. Total returns to shareholders over the past year are 114%.Recent Insider Transactions • Jan 21Independent Non Executive Director recently sold HK$169k worth of stockOn the 18th of January, Ya Wang sold around 3k shares on-market at roughly HK$52.22 per share. In the last 3 months, there was an even bigger sale from another insider worth HK$41m. Insiders have been net sellers, collectively disposing of HK$296m more than they bought in the last 12 months.Is New 90 Day High Low • Jan 19New 90-day high: HK$54.70The company is up 36% from its price of HK$40.35 on 22 October 2020. The Hong Kong market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 28% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$45.83 per share.Is New 90 Day High Low • Dec 30New 90-day high: HK$51.95The company is up 44% from its price of HK$36.00 on 30 September 2020. The Hong Kong market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 34% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$45.60 per share.Recent Insider Transactions • Dec 19Founder recently sold HK$41m worth of stockOn the 16th of December, Ning Li sold around 849k shares on-market at roughly HK$47.71 per share. In the last 3 months, they made an even bigger sale worth HK$162m. Ning has been a seller over the last 12 months, reducing personal holdings by HK$273m.Is New 90 Day High Low • Dec 15New 90-day high: HK$48.25The company is up 39% from its price of HK$34.75 on 17 September 2020. The Hong Kong market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$42.95 per share.Is New 90 Day High Low • Nov 06New 90-day high: HK$43.20The company is up 59% from its price of HK$27.25 on 07 August 2020. The Hong Kong market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 30% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$35.61 per share.Is New 90 Day High Low • Oct 05New 90-day high: HK$38.75The company is up 43% from its price of HK$27.15 on 07 July 2020. The Hong Kong market is down 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$35.28 per share.Recent Insider Transactions • Sep 19Independent Non Executive Director recently sold HK$2.4m worth of stockOn the 17th of September, Chung Bun Chan sold around 70k shares on-market at roughly HK$34.75 per share. In the last 3 months, there was an even bigger sale from another insider worth HK$6.9m. Insiders have been net sellers, collectively disposing of HK$27m more than they bought in the last 12 months.業績と収益の成長予測SHSC:2331 - アナリストの将来予測と過去の財務データ ( )CNY Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/202836,1243,8623,2985,3412612/31/202733,8373,4602,9174,8013112/31/202631,7503,0492,4624,4553012/31/202529,5982,9363,5654,852N/A9/30/202529,3732,8673,5424,900N/A6/30/202529,1472,7983,5204,949N/A3/31/202528,9112,9063,6425,108N/A12/31/202428,6763,0133,7655,268N/A9/30/202428,3003,0153,6295,372N/A6/30/202427,9253,0183,4935,476N/A3/31/202427,7623,1023,0835,082N/A12/31/202327,5983,1872,6734,688N/A9/30/202327,5063,5912,4244,480N/A6/30/202327,4143,9962,1754,273N/A3/31/202326,6094,0301,9854,093N/A12/31/202225,8034,0641,7953,914N/A9/30/202225,2944,1512,2514,349N/A6/30/202224,7844,2382,7074,784N/A3/31/202223,6784,1243,7155,655N/A12/31/202122,5724,0114,7226,525N/A9/30/202120,5223,4944,7466,067N/A6/30/202118,4732,9774,7705,609N/A3/31/202116,4652,3383,3944,186N/A12/31/202014,4571,6982,0182,763N/A9/30/202014,1261,5431,9312,690N/A6/30/202013,7961,3871,8452,616N/A3/31/202013,8331,4432,3313,060N/A12/31/201913,8701,4992,8183,503N/A9/30/201912,9611,370N/A2,941N/A6/30/201912,0531,242N/A2,378N/A3/31/201911,282978N/A2,025N/A12/31/201810,511715N/A1,672N/A9/30/201810,051655N/A1,451N/A6/30/20189,591595N/A1,231N/A3/31/20189,232555N/A1,195N/A12/31/20178,874515N/A1,159N/A9/30/20178,645446N/A1,199N/A6/30/20178,416376N/A1,238N/A3/31/20178,216316N/A1,117N/A12/31/20168,015256N/A995N/A9/30/20167,757172N/A931N/A6/30/20167,49989N/A866N/A3/31/20167,29423N/A777N/A12/31/20157,089-43N/A687N/A6/30/20156,097-308N/A91N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: 2331の予測収益成長率 (年間8.7% ) は 貯蓄率 ( 3% ) を上回っています。収益対市場: 2331の収益 ( 8.7% ) Hong Kong市場 ( 12.8% ) よりも低い成長が予測されています。高成長収益: 2331の収益は増加すると予測されていますが、大幅には増加しません。収益対市場: 2331の収益 ( 6.1% ) Hong Kong市場 ( 8.7% ) よりも低い成長が予測されています。高い収益成長: 2331の収益 ( 6.1% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: 2331の 自己資本利益率 は、3年後には低くなると予測されています ( 11.8 %)。成長企業の発掘7D1Y7D1Y7D1YConsumer-durables 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/30 11:20終値2026/05/29 00:00収益2025/12/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Li Ning Company Limited 31 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。58 アナリスト機関Vineet Kulbandu SharmaBarclaysJiaying HuangBarclaysMelinda HuBernstein55 その他のアナリストを表示
Board Change • May 20Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 5 highly experienced directors. Independent Non-Executive Director Yajuan Wang was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
お知らせ • Mar 20Li Ning Company Limited, Annual General Meeting, Jun 11, 2026Li Ning Company Limited, Annual General Meeting, Jun 11, 2026, at 11:00 China Standard Time.
お知らせ • Mar 09Li Ning Company Limited to Report Fiscal Year 2025 Results on Mar 19, 2026Li Ning Company Limited announced that they will report fiscal year 2025 results on Mar 19, 2026
お知らせ • Nov 27Anta Sports Reportedly Exploring Bid for PumaChinese sportswear maker ANTA Sports Products Limited (SEHK:2020) is among firms exploring a potential takeover of German sportswear brand PUMA SE (XTRA:PUM), Bloomberg News reported on November 27, 2025. Hong Kong-listed Anta has been working with an adviser to evaluate a bid for Puma, and the company may team up with a private equity firm if it decides to move forward with an offer, the Bloomberg report said, citing people familiar with the matter. Other potential bidders could include Chinese sportswear group Li Ning Company Limited (SEHK:2331), which has been discussing financing options with banks as it takes an early look at Puma, according to the report. Puma may also attract interest from Japanese sportswear company ASICS Corporation (TSE:7936), the report said. Anta Sports, Puma, and Asics did not immediately respond to Reuters‘ requests for comment. Li-Ning said in an emailed statement to Reuters that the company “has not engaged in any substantive negotiations or evaluations regarding the transaction mentioned in the news”, adding that the company continues to focus on the growth and development of its brand. Puma’s biggest shareholder Artemis, the privately-owned holding company that controls Gucci owner Kering, has said it is considering all options for its 29% stake, though a source close to the firm told Reuters in September it would not sell at the market value then. Puma’s market valuation is currently at EUR 2,520 million ($2,920 million), according to LSEG data. The Pinault family, which controls Artemis, acquired its Puma stake in 2018 from Kering when the luxury group transformed into a pure luxury player focused on brands like Gucci and Saint Laurent.
お知らせ • Aug 26Pinault Family Reportedly Seeks Potential Buyers for PumaThe Pinault family has reached out to potential buyers of PUMA SE (XTRA:PUM) after the German sports brand lost about half of its market value in the past year, according to people familiar with the matter. The billionaire family, which owns a 29% stake in Frankfurt-listed Puma through Artemis, is working with advisers, possibly with a view to triggering a sale of the company, the people said, asking not to be identified because the deliberations are private. They have reached out to prospective bidders including ANTA Sports Products Limited (SEHK:2020) and Li Ning Company Limited (SEHK:2331) to gauge interest in buying Puma, the people said, adding they have also sounded out other sportswear firms in the US, as well as sovereign wealth funds in the Middle East. Puma shares surged as much as 20% in German trading following the report, the most since October 2001. It has a market value of about EUR 3.3 billion. The family is likely to seek a sizable premium in any deal, the people said. Artemis is also the controlling shareholder of Kering. Deliberations are ongoing and there is no guarantee a transaction will happen, the people said. A spokesperson for Puma declined to comment, while representatives for Artemis, Anta and Li Ning didn't respond to requests seeking comment.
お知らせ • Aug 22Li Ning Company Limited Announces Interim Dividend for the Six Months Ended June 30, 2025, Payable on September 16, 2025Li Ning Company Limited announced interim dividend of RMB 0.3359 per share for the six months ended June 30, 2025. Ex-dividend date: September 3, 2025. Record date: September 8, 2025. Payment date: September 16, 2025.
お知らせ • Aug 11Li Ning Company Limited to Report First Half, 2025 Results on Aug 21, 2025Li Ning Company Limited announced that they will report first half, 2025 results on Aug 21, 2025
お知らせ • Jun 12Li Ning Company Limited Approves Final Dividend for the Year Ended 31 December 2024, Payable on 27 June 2025Li Ning Company Limited at its annual general meeting held on 12 June 2025, approved to declare and pay a final dividend of RMB 20.73 cents per Share for the year ended 31 December 2024 and authorise any Director to take such action, do such things and execute such further documents as the Director may at his/her absolute discretion consider necessary or desirable for the purpose of or in connection with the implementation of the payment of the final dividend. Ex-dividend date is 16 June 2025. Record date is 19 June 2025. Payment date is 27 June 2025.
お知らせ • Mar 28Li Ning Company Limited, Annual General Meeting, Jun 12, 2025Li Ning Company Limited, Annual General Meeting, Jun 12, 2025, at 11:00 China Standard Time.
お知らせ • Mar 17Li Ning Company Limited to Report Fiscal Year 2024 Results on Mar 27, 2025Li Ning Company Limited announced that they will report fiscal year 2024 results on Mar 27, 2025
お知らせ • Sep 16Li Ning Company Limited Announces Change of Principal Place of Business in Hong KongThe board of directors of Li Ning Company Limited announced that, with effect from 16 September 2024, the principal place of business in Hong Kong of the Company has been changed to 25/F - 28/F, Hong Kong Li-Ning Building, 218 Electric Road, Fortress Hill, Hong Kong.
Declared Dividend • Aug 19First half dividend of HK$0.41 announcedShareholders will receive a dividend of HK$0.41. Ex-date: 29th August 2024 Payment date: 11th September 2024 Dividend yield will be 4.7%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 34% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Aug 17First half 2024 earnings released: EPS: CN¥0.76 (vs CN¥0.81 in 1H 2023)First half 2024 results: EPS: CN¥0.76 (down from CN¥0.81 in 1H 2023). Revenue: CN¥14.3b (up 2.3% from 1H 2023). Net income: CN¥1.95b (down 8.0% from 1H 2023). Profit margin: 14% (down from 15% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Luxury industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 47% per year, which means it is performing significantly worse than earnings.
お知らせ • Aug 16Li Ning Company Limited Announces Interim Dividend for the Six Months Ended 30 June 2024, Payable on 11 September 2024Li Ning Company Limited announced interim dividend of RMB 0.3775 per share for the six months ended 30 June 2024. Ex-dividend date is 29 August 2024. Record date is 03 September 2024. Payment date is 11 September 2024.
お知らせ • Aug 05Li Ning Company Limited to Report First Half, 2024 Results on Aug 15, 2024Li Ning Company Limited announced that they will report first half, 2024 results on Aug 15, 2024
お知らせ • Jun 14Li Ning Company Limited Approves Final Dividend for the Year Ended 31 December 2023, Payable on 28 June 2024Li Ning Company Limited announced that at its AGM held on 13 June 2024, the shareholders approved final dividend of RMB 0.1854 per share for the year ended 31 December 2023. Ex-dividend date is 17 June 2024. Record date is 20 June 2024. Payment date is 28 June 2024.
お知らせ • Jun 13Li Ning Company Limited Announces Change of Composition of Remuneration CommitteeThe board of directors of Li Ning Company Limited announced the following changes in the composition of the remuneration committee of the Board with effect from 12 June 2024: Ms. Wang Yajuan, an independent non-executive director of the Company, has been appointed as a member of the Remuneration Committee; and Mr. Li Qilin, an executive director of the Company, has ceased to be a member of the Remuneration Committee but will remain as an executive director of the Company. Following the above changes, the Remuneration Committee continues to be chaired by Ms. Wang Ya Fei, an independent non-executive director of the Company, and comprises a majority of independent non-executive directors of the Company.
Upcoming Dividend • Jun 10Upcoming dividend of CN¥0.19 per shareEligible shareholders must have bought the stock before 17 June 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 44% and the cash payout ratio is 81%. Trailing yield: 2.8%. Lower than top quartile of Hong Kong dividend payers (7.6%). In line with average of industry peers (3.1%).
Buy Or Sell Opportunity • May 23Now 24% undervaluedOver the last 90 days, the stock has risen 8.6% to HK$22.70. The fair value is estimated to be HK$29.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 7.1% per annum. Earnings are also forecast to grow by 10% per annum over the same time period.
Valuation Update With 7 Day Price Move • Apr 25Investor sentiment improves as stock rises 15%After last week's 15% share price gain to HK$19.90, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 8x in the Luxury industry in Hong Kong. Total loss to shareholders of 68% over the past three years.
Reported Earnings • Apr 24Full year 2023 earnings released: EPS: CN¥1.23 (vs CN¥1.55 in FY 2022)Full year 2023 results: EPS: CN¥1.23 (down from CN¥1.55 in FY 2022). Revenue: CN¥27.6b (up 7.0% from FY 2022). Net income: CN¥3.19b (down 22% from FY 2022). Profit margin: 12% (down from 16% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Luxury industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings.
Declared Dividend • Mar 22Final dividend of CN¥0.19 announcedShareholders will receive a dividend of CN¥0.19. Ex-date: 17th June 2024 Payment date: 28th June 2024 Dividend yield will be 2.7%, which is lower than the industry average of 3.3%. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 44% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Mar 21Full year 2023 earnings released: EPS: CN¥1.23 (vs CN¥1.55 in FY 2022)Full year 2023 results: EPS: CN¥1.23 (down from CN¥1.55 in FY 2022). Revenue: CN¥27.6b (up 7.0% from FY 2022). Net income: CN¥3.19b (down 22% from FY 2022). Profit margin: 12% (down from 16% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Luxury industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings.
お知らせ • Mar 20+ 1 more updateLi Ning Company Limited, Annual General Meeting, Jun 13, 2024Li Ning Company Limited, Annual General Meeting, Jun 13, 2024, at 11:00 China Standard Time. Agenda: To consider dividend.
Valuation Update With 7 Day Price Move • Mar 12Investor sentiment improves as stock rises 18%After last week's 18% share price gain to HK$22.10, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 8x in the Luxury industry in Hong Kong. Total loss to shareholders of 50% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$42.68 per share.
お知らせ • Mar 08Li Ning Company Limited to Report Fiscal Year 2023 Results on Mar 19, 2024Li Ning Company Limited announced that they will report fiscal year 2023 results on Mar 19, 2024
New Risk • Jan 24New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 9.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.8% average weekly change).
Valuation Update With 7 Day Price Move • Jan 22Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to HK$15.12, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 7x in the Luxury industry in Hong Kong. Total loss to shareholders of 70% over the past three years.
Valuation Update With 7 Day Price Move • Oct 26Investor sentiment deteriorates as stock falls 24%After last week's 24% share price decline to HK$23.95, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 7x in the Luxury industry in Hong Kong. Total loss to shareholders of 39% over the past three years.
Upcoming Dividend • Aug 16Upcoming dividend of HK$0.40 per share at 2.0% yieldEligible shareholders must have bought the stock before 23 August 2023. Payment date: 06 September 2023. Trailing yield: 2.0%. Lower than top quartile of Hong Kong dividend payers (7.7%). Lower than average of industry peers (2.6%).
Reported Earnings • Aug 12First half 2023 earnings released: EPS: CN¥0.81 (vs CN¥0.84 in 1H 2022)First half 2023 results: EPS: CN¥0.81 (down from CN¥0.84 in 1H 2022). Revenue: CN¥14.0b (up 13% from 1H 2022). Net income: CN¥2.12b (down 3.1% from 1H 2022). Profit margin: 15% (down from 18% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Luxury industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Buying Opportunity • Aug 08Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 17%. The fair value is estimated to be HK$53.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings is also forecast to grow by 15% per annum over the same time period.
お知らせ • Aug 01Li Ning Company Limited to Report First Half, 2023 Results on Aug 10, 2023Li Ning Company Limited announced that they will report first half, 2023 results on Aug 10, 2023
Buying Opportunity • Jul 07Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 33%. The fair value is estimated to be HK$49.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings is also forecast to grow by 16% per annum over the same time period.
New Risk • Jun 23New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 20% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. This is currently the only risk that has been identified for the company.
お知らせ • Jun 15Li Ning Company Limited Declares Final Dividend for the Year Ended 31 December 2022Li Ning Company Limited held its annual general meeting on June 14, 2023, declared and pay a final dividend of RMB 46.27 cents per Share for the year ended 31 December 2022 out of the share premium account of the Company and authorise any Director to take such action, do such things and execute such further documents as the Director may at his/her absolute discretion consider necessary or desirable for the purpose of or in connection with the implementation of the payment of the final dividend.
Upcoming Dividend • Jun 09Upcoming dividend of CN¥0.46 per share at 1.1% yieldEligible shareholders must have bought the stock before 16 June 2023. Payment date: 30 June 2023. Trailing yield: 1.1%. Lower than top quartile of Hong Kong dividend payers (7.7%). Lower than average of industry peers (2.6%).
Reported Earnings • Mar 18Full year 2022 earnings released: EPS: CN¥1.55 (vs CN¥1.60 in FY 2021)Full year 2022 results: EPS: CN¥1.55. Revenue: CN¥25.8b (up 14% from FY 2021). Net income: CN¥4.06b (up 1.3% from FY 2021). Profit margin: 16% (down from 18% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Luxury industry in Hong Kong.
Recent Insider Transactions • Jan 12Independent Non Executive Director recently sold HK$2.2m worth of stockOn the 9th of January, Chung Bun Chan sold around 30k shares on-market at roughly HK$72.30 per share. This transaction amounted to 91% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$7.3m more than they bought in the last 12 months.
Valuation Update With 7 Day Price Move • Dec 02Investor sentiment improved over the past weekAfter last week's 15% share price gain to HK$61.60, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 7x in the Luxury industry in Hong Kong. Total returns to shareholders of 140% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$79.54 per share.
Board Change • Nov 16Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Joint CEO & Executive Director Takeshi Kosaka was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Valuation Update With 7 Day Price Move • Nov 05Investor sentiment improved over the past weekAfter last week's 17% share price gain to HK$49.40, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 7x in the Luxury industry in Hong Kong. Total returns to shareholders of 97% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$79.64 per share.
Board Change • Nov 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Joint CEO & Executive Director Takeshi Kosaka was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Valuation Update With 7 Day Price Move • Oct 14Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to HK$56.15, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 7x in the Luxury industry in Hong Kong. Total returns to shareholders of 114% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$95.34 per share.
Board Change • Oct 02Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Joint CEO & Executive Director Takeshi Kosaka was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Aug 13First half 2022 earnings released: EPS: CN¥0.84 (vs CN¥0.79 in 1H 2021)First half 2022 results: EPS: CN¥0.84 (up from CN¥0.79 in 1H 2021). Revenue: CN¥12.4b (up 22% from 1H 2021). Net income: CN¥2.19b (up 12% from 1H 2021). Profit margin: 18% (down from 19% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 19%, compared to a 15% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth.
Recent Insider Transactions • Jul 12Independent Non Executive Director recently sold HK$5.1m worth of stockOn the 7th of July, Chung Bun Chan sold around 70k shares on-market at roughly HK$73.47 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$36m more than they bought in the last 12 months.
Upcoming Dividend • Jun 10Upcoming dividend of CN¥0.46 per shareEligible shareholders must have bought the stock before 17 June 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Hong Kong dividend payers (7.7%). Lower than average of industry peers (2.1%).
Valuation Update With 7 Day Price Move • Jun 01Investor sentiment improved over the past weekAfter last week's 21% share price gain to HK$61.20, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 9x in the Luxury industry in Hong Kong. Total returns to shareholders of 373% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$116 per share.
Reported Earnings • Apr 13Full year 2021 earnings released: EPS: CN¥1.60 (vs CN¥0.69 in FY 2020)Full year 2021 results: EPS: CN¥1.60 (up from CN¥0.69 in FY 2020). Revenue: CN¥22.6b (up 56% from FY 2020). Net income: CN¥4.01b (up 136% from FY 2020). Profit margin: 18% (up from 12% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 20%, compared to a 19% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has increased by 67% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Apr 12Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to HK$57.00, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 9x in the Luxury industry in Hong Kong. Total returns to shareholders of 331% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$107 per share.
Valuation Update With 7 Day Price Move • Sep 25Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to HK$88.70, the stock trades at a forward P/E ratio of 46x. Average forward P/E is 10x in the Luxury industry in Hong Kong. Total returns to shareholders of 155% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$72.40 per share.
Recent Insider Transactions • Sep 07Independent Non Executive Director recently sold HK$10.0m worth of stockOn the 6th of September, Chung Bun Chan sold around 100k shares on-market at roughly HK$99.93 per share. In the last 3 months, there was an even bigger sale from another insider worth HK$18m. Insiders have been net sellers, collectively disposing of HK$321m more than they bought in the last 12 months.
Recent Insider Transactions • Aug 19Independent Non Executive Director recently sold HK$18m worth of stockOn the 18th of August, Ya Fei Wang sold around 186k shares on-market at roughly HK$94.96 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$323m more than they bought in the last 12 months.
Reported Earnings • Aug 15First half 2021 earnings released: EPS CN¥0.79 (vs CN¥0.28 in 1H 2020)The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥10.2b (up 65% from 1H 2020). Net income: CN¥1.96b (up 187% from 1H 2020). Profit margin: 19% (up from 11% in 1H 2020). The increase in margin was driven by higher revenue.
Executive Departure • Jul 14Independent Non-Executive Director Jing Shyh Su has left the companyOn the 5th of July, Jing Shyh Su's tenure as Independent Non-Executive Director ended after 9.0 years in the role. We don't have any record of a personal shareholding under Jing Shyh's name. Jing Shyh is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 3.08 years.
Recent Insider Transactions • Jul 08Independent Non Executive Director recently sold HK$8.9m worth of stockOn the 6th of July, Chung Bun Chan sold around 100k shares on-market at roughly HK$88.55 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$303m more than they bought in the last 12 months.
Upcoming Dividend • Jun 09Upcoming dividend of CN¥0.20 per shareEligible shareholders must have bought the stock before 16 June 2021. Payment date: 29 June 2021. Trailing yield: 0.3%. Lower than top quartile of Hong Kong dividend payers (6.0%). Lower than average of industry peers (1.0%).
Reported Earnings • Apr 14Full year 2020 earnings released: EPS CN¥0.69 (vs CN¥0.62 in FY 2019)The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CN¥14.5b (up 4.2% from FY 2019). Net income: CN¥1.70b (up 13% from FY 2019). Profit margin: 12% (in line with FY 2019).
Recent Insider Transactions • Apr 09Independent Non Executive Director recently sold HK$1.6m worth of stockOn the 7th of April, Chung Bun Chan sold around 30k shares on-market at roughly HK$54.63 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$297m more than they bought in the last 12 months.
Reported Earnings • Mar 21Full year 2020 earnings released: EPS CN¥0.69 (vs CN¥0.62 in FY 2019)The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CN¥14.5b (up 4.2% from FY 2019). Net income: CN¥1.70b (up 13% from FY 2019). Profit margin: 12% (in line with FY 2019).
Is New 90 Day High Low • Mar 09New 90-day low: HK$41.00The company is down 5.0% from its price of HK$43.15 on 09 December 2020. The Hong Kong market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$40.59 per share.
Valuation Update With 7 Day Price Move • Feb 27Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to CN¥43.60, the stock is trading at a trailing P/E ratio of 63.8x, down from the previous P/E ratio of 76.1x. This compares to an average P/E of 14x in the Luxury industry in Hong Kong. Total returns to shareholders over the past year are 114%.
Recent Insider Transactions • Jan 21Independent Non Executive Director recently sold HK$169k worth of stockOn the 18th of January, Ya Wang sold around 3k shares on-market at roughly HK$52.22 per share. In the last 3 months, there was an even bigger sale from another insider worth HK$41m. Insiders have been net sellers, collectively disposing of HK$296m more than they bought in the last 12 months.
Is New 90 Day High Low • Jan 19New 90-day high: HK$54.70The company is up 36% from its price of HK$40.35 on 22 October 2020. The Hong Kong market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 28% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$45.83 per share.
Is New 90 Day High Low • Dec 30New 90-day high: HK$51.95The company is up 44% from its price of HK$36.00 on 30 September 2020. The Hong Kong market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 34% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$45.60 per share.
Recent Insider Transactions • Dec 19Founder recently sold HK$41m worth of stockOn the 16th of December, Ning Li sold around 849k shares on-market at roughly HK$47.71 per share. In the last 3 months, they made an even bigger sale worth HK$162m. Ning has been a seller over the last 12 months, reducing personal holdings by HK$273m.
Is New 90 Day High Low • Dec 15New 90-day high: HK$48.25The company is up 39% from its price of HK$34.75 on 17 September 2020. The Hong Kong market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$42.95 per share.
Is New 90 Day High Low • Nov 06New 90-day high: HK$43.20The company is up 59% from its price of HK$27.25 on 07 August 2020. The Hong Kong market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 30% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$35.61 per share.
Is New 90 Day High Low • Oct 05New 90-day high: HK$38.75The company is up 43% from its price of HK$27.15 on 07 July 2020. The Hong Kong market is down 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$35.28 per share.
Recent Insider Transactions • Sep 19Independent Non Executive Director recently sold HK$2.4m worth of stockOn the 17th of September, Chung Bun Chan sold around 70k shares on-market at roughly HK$34.75 per share. In the last 3 months, there was an even bigger sale from another insider worth HK$6.9m. Insiders have been net sellers, collectively disposing of HK$27m more than they bought in the last 12 months.