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    2331   KYG5496K1242

LI NING COMPANY LIMITED

(2331)
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Delayed Hong Kong Stock Exchange  -  04:08 2022-08-12 am EDT
70.10 HKD   +4.78%
06:11aHong Kong Hang Seng Up 0.5% As Property and Tech Sectors Edge Higher
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05:27aHong Kong Stocks End Week Higher; Li Ning Rises 5%
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04:36aChina stocks fall amid COVID flare-ups, even as Taiwan tensions ease
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Hong Kong Consumer Stocks Gain on Shanghai Economic Recovery Plan

05/29/2022 | 09:04pm EDT

By Yongchang Chin


Hong Kong-listed consumer stocks are higher in early trade as sentiment is buoyed by the Shanghai government's plan to loosen Covid-19 restrictions on June 1 as daily case counts decline.

"We believed that there will be a rebound in consumption after the unlocking," analysts from brokerage KGI Securities say.

The local government announced a number of supportive measures as well, including reducing rent and property taxes for businesses, and granting subsidies for water, electricity and natural-gas costs, state media outlet Xinhua reported over the weekend.

"Measures will also be adopted to stabilize foreign capital, encourage consumption and expand investment," it said.

Consumer stocks are pulling the benchmark Hang Seng Index higher Monday morning, led by apparel group Li Ning Co., hotpot chain Haidilao International Holding Ltd. and brewer China Resources Beer (Holdings) Co. which are up 8.2%, 6.4% and 6.3%, respectively. The HSI is up 2.2%.

Analysts from KGI Securities say this presents a buying opportunity, and view China Resources Beer as particularly attractive. Not only has the brewer's stock dropped sharply due to the Covid-19 outbreak, but it is expected to post 26% growth in 2023 earnings per share, they say. Shares are down 26% so far this year.

The measures should be supportive of Hong Kong stocks in general as they could calm some of the concerns about Covid-19 risks, IG market strategist Yeap Jun Rong says.

However, Mr. Yeap notes that previous fiscal measures "were met with only a lukewarm reaction in the markets, suggesting that some reservations may remain." This is because China's "strict virus stance suggests that any [future] outbreaks will still be met with heavy economic restrictions," he says.


Write to Yongchang Chin at yongchang.chin@wsj.com


(END) Dow Jones Newswires

05-29-22 2304ET

Stocks mentioned in the article
ChangeLast1st jan.
CHINA RESOURCES BEER (HOLDINGS) COMPANY LIMITED 1.19% 55.25 Delayed Quote.-14.49%
HAIDILAO INTERNATIONAL HOLDING LTD. 1.91% 16.02 Delayed Quote.-8.98%
HONG KONG HANG SENG 0.46% 20175.62 Delayed Quote.-16.18%
LI NING COMPANY LIMITED 4.78% 70.1 Delayed Quote.-21.62%
S&P GSCI NATURAL GAS INDEX -1.00% 410.4317 Real-time Quote.137.61%
All news about LI NING COMPANY LIMITED
06:11aHong Kong Hang Seng Up 0.5% As Property and Tech Sectors Edge Higher
MT
05:27aHong Kong Stocks End Week Higher; Li Ning Rises 5%
MT
04:36aChina stocks fall amid COVID flare-ups, even as Taiwan tensions ease
RE
02:05aLi Ning's H1 Profit Jumps 12% as COVID Bolsters Demand for Sports Products; Shares Rise..
MT
12:38aChina stocks fall as COVID flare-ups, Fed tightening woes weigh
RE
08/11Li Ning Company Limited Reports Earnings Results for the Half Year Ended June 30, 2022
CI
07/31Li Ning Names Finance Chief
MT
07/31Li Ning Company Limited Appoints Zhao Dong Sheng as Chief Financial Officer
CI
07/08Li Ning Chief Financial Officer Retires; Shares Slip 3%
MT
07/07Hong Kong Hang Seng Edges Up 0.3% in Late Rally
MT
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Analyst Recommendations on LI NING COMPANY LIMITED
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Financials
Sales 2022 26 551 M 3 937 M 3 937 M
Net income 2022 4 636 M 687 M 687 M
Net cash 2022 17 770 M 2 635 M 2 635 M
P/E ratio 2022 32,0x
Yield 2022 0,98%
Capitalization 150 B 22 292 M 22 292 M
EV / Sales 2022 4,99x
EV / Sales 2023 3,97x
Nbr of Employees 4 019
Free-Float 89,4%
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Mean consensus BUY
Number of Analysts 34
Last Close Price 57,52 CNY
Average target price 73,58 CNY
Spread / Average Target 27,9%
EPS Revisions
Managers and Directors
Ning Li Executive Chairman & Co-Chief Executive Officer
Takeshi Kosaka Co-Chief Executive Officer & Executive Director
Dong Sheng Zhao Chief Financial Officer & Group Vice President
Can Yu He GM-Apparel Research & Development
Jian Guang Xu GM-Footwear Research & Development
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