Li Ning Co Ltd

02331: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Li Ning: Holds Guidance Despite Sales Decline; Olympic Tie-Ins Could Reignite Growth

Ivan Su

Oct 27, 2025

Li Ning reported a mid-single-digit decline in retail sales for the third quarter of 2025, with management noting that weakness persisted into October. Despite this, full-year guidance was maintained, projecting flat revenue and a high-single-digit net margin.

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Li Ning Co Ltd

Li Ning: Holds Guidance Despite Sales Decline; Olympic Tie-Ins Could Reignite Growth

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