The Zhitong Finance App learned that Extraordinary Leadership (00933) rose more than 6% in the morning. As of press release, it had risen 6.59% to HK$0.485, with a turnover of HK$2,583,900.

According to the news, UBS released a research report saying that Li Ning recently announced a special dividend of HK$2.71 (RMB 2.32) per share, totaling about HK$7 billion, which is equivalent to a dividend rate of about 18%, which is higher than the bank's expectations of HK$2 billion. Together with the announced interim dividend and expected final dividend of RMB 0.1 per share, it is estimated that the total dividend payout in 2026 will reach HK$3.19 (RMB 2.77) per share, which is equivalent to the expected dividend rate of about 22% in 2026, with a total dividend ratio of over 305%. UBS expects the stock price to respond positively to the news.

The bank added that the extraordinary Lingyue controlled by Li Ning's executive chairman Li Ning holds 19.3% of Li Ning's shares. Based on the special dividend, Extraordinary Lingyue will receive about RMB 1.16 billion (approximately HK$1.35 billion) in cash; if all is used to repay debts, the total amount of bank loans to prepare for the exam will be reduced from the current estimate of about HK$3.5 billion to about HK$2.2 billion.

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