View ValuationLi Ning 향후 성장Future 기준 점검 1/6Li Ning (는) 각각 연간 8.7% 및 6.1% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 8.6% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 11.8% 로 예상됩니다.핵심 정보8.7%이익 성장률8.59%EPS 성장률Luxury 이익 성장9.4%매출 성장률6.1%향후 자기자본이익률11.76%애널리스트 커버리지Good마지막 업데이트22 May 2026최근 향후 성장 업데이트업데이트 없음모든 업데이트 보기Recent 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.공시 • 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.공시 • 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, 2026공시 • 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.공시 • 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.공시 • 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.공시 • 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, 2025공시 • 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.공시 • 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.공시 • 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, 2025공시 • 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.공시 • 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.공시 • 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, 2024공시 • 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.공시 • 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.공시 • 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.공시 • 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.공시 • 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.공시 • 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.이익 및 매출 성장 예측SHSC:2331 - 애널리스트 향후 추정치 및 과거 재무 데이터 (CNY Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/202836,1243,8623,2985,3412612/31/202733,8373,4602,9174,8013112/31/202631,7503,0492,4624,4553012/31/202529,5982,9363,5654,852N/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/A더 보기애널리스트 향후 성장 전망수입 대 저축률: 2331 의 연간 예상 수익 증가율(8.7%)이 saving rate(3%)보다 높습니다.수익 vs 시장: 2331 의 연간 수익(8.7%)이 Hong Kong 시장(12.6%)보다 느리게 성장할 것으로 예상됩니다.고성장 수익: 2331 의 수입은 증가할 것으로 예상되지만 상당히 증가하지는 않을 것입니다.수익 대 시장: 2331 의 수익(연간 6.1%)이 Hong Kong 시장(연간 8.7%)보다 느리게 성장할 것으로 예상됩니다.고성장 매출: 2331 의 수익(연간 6.1%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: 2331의 자본 수익률은 3년 후 11.8%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YConsumer-durables 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/23 13:40종가2026/05/22 00:00수익2025/12/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Li Ning Company Limited는 58명의 분석가가 다루고 있습니다. 이 중 31명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Vineet Kulbandu SharmaBarclaysJiaying HuangBarclaysMelinda HuBernstein55명의 분석가 더 보기
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.
공시 • 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.
공시 • 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
공시 • 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.
공시 • 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.
공시 • 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.
공시 • 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
공시 • 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.
공시 • 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.
공시 • 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
공시 • 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.
공시 • 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.
공시 • 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
공시 • 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.
공시 • 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.
공시 • 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.
공시 • 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.
공시 • 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.
공시 • 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.