The Zhitong Finance App learned that Citi released a research report stating that it gave Li Ning (02331) a “buy” rating, with a target price of HK$18.1. The bank pointed out that after accounting for Li Ning Young's year-on-year double-digit growth, Li Ning's overall brand retail sales in the third quarter were roughly the same as year on year.

The bank said that the company plans to discuss the payment of a special dividend, which is a positive surprise. Furthermore, the company's retail sales both resumed positive year-on-year growth in August and September, and Citi expects the discount margin to narrow further in the fourth quarter. The management maintains the annual performance guidelines. It is expected that the annual sales volume will increase by a low number of units year over year, and the net profit margin will be in the middle to high number of units.

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