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LI NING COMPANY LIMITED

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Li Ning : China stocks rise on strong services data, easing Sino-U.S. tensions

10/08/2021 | 01:06am EST

SHANGHAI, Oct 8 (Reuters) - Chinese shares rose on Friday after a week-long national holiday, helped by encouraging service sector data and easing political tensions with the United States.

The CSI300 index rose 1.1% to 4,918.45 points at the end of the morning session, while the Shanghai Composite Index gained 0.3% to 3,579.96 points.

The Hang Seng index dropped 0.3% to 24,636.46 points. The Hong Kong China Enterprises Index lost 0.3% to 8,690.51.

** Activity in China's services sector returned to growth in September as a major COVID-19 outbreak in the eastern province of Jiangsu receded, a private-sector survey showed on Friday, offering some support to a slowing economy.

** But tourism data during the Golden Week holiday was weak, fueling hopes for more policy easing.

** "Sluggish golden week data bode poorly for retail sales growth in October," Nomura analysts said in a note. "We expect Beijing to ramp up its monetary and fiscal support."

** The consumer staples and the tourism shares jumped more than 4% each.

** The U.S. and China have agreed in principle for their presidents to hold a virtual meeting before year's end after high-level talks meant to improve communication between the two big powers.

** The coal sub-index slumped 5.1%, after China's top coal region has told mines to boost output immediately, the latest attempt by authorities to boost coal supply amid record-high prices and shortages of electricity.

** In Hong Kong, Li Ning Co and WuXi Biologics Inc fell 8.7% and 5.7%, respectively, dragging the Hang Seng Index lower.

** Index heavyweight Alibaba Group jumped 3.3%, lifting the city's benchmark up 61 points.

** The healthcare sub-index, the energy sub-index , the industrial sub-index, and utility sub-index declined more than 2%. (Reporting by Shanghai Newsroom; Editing by Ramakrishnan M.)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
LI NING COMPANY LIMITED 5.37% 92.15 End-of-day quote.72.89%
WUXI BIOLOGICS (CAYMAN) INC. 4.95% 101.8 End-of-day quote.-0.97%
All news about LI NING COMPANY LIMITED
11/30Hong Kong Hang Seng Declines 1.6% on Pandemic, Property, Tech Outlooks
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11/23Hong Kong Hang Seng Down 1.2% on Tech Slump; Alibaba Near Record Low
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11/04Hong Kong Hang Seng Up 0.8% on Federal Reserve Outlook, Tech Rally
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11/03Li Ning Nets Over $1 Billion From Top-Up Placement
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11/02China stock pickers reshape portfolios on Xi's 'common prosperity'
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10/28Hong Kong Hang Seng Down 0.3% as Property Issues Slip Again; Earnings Unimpressive
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10/27Li Ning Raising $1.4 Billion to Fund Overseas Expansion; Shares Slide 6%
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10/27China's Li Ning plans $1.4 billion share sale for international expansion
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10/27China's Li Ning plans $1.4 bln share sale for international expansion
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More news
Financials
Sales 2021 21 129 M 3 316 M 3 316 M
Net income 2021 3 607 M 566 M 566 M
Net cash 2021 9 352 M 1 468 M 1 468 M
P/E ratio 2021 52,1x
Yield 2021 0,60%
Capitalization 196 B 30 867 M 30 733 M
EV / Sales 2021 8,82x
EV / Sales 2022 7,04x
Nbr of Employees 3 928
Free-Float 89,5%
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Mean consensus BUY
Number of Analysts 33
Last Close Price 74,98 CNY
Average target price 89,86 CNY
Spread / Average Target 19,8%
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Managers and Directors
Ning Li Executive Chairman & Co-Chief Executive Officer
Takeshi Kosaka Co-Chief Executive Officer & Executive Director
Wah Fung Tsang Chief Financial Officer
Can Yu He GM-Apparel Research & Development
Jian Guang Xu GM-Footwear Research & Development
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