Ge Long Hui·2025-07-16 03:24Group 1 - The core viewpoint of the article indicates that Li Ning's overall retail revenue for Q2 2025 showed low single-digit growth year-on-year, with offline and e-commerce channels experiencing low single-digit decline and mid-single-digit growth respectively [1] - As of the end of Q2 2025, Li Ning's main brand store count reached 6,099, with a net increase of 11 stores compared to the previous quarter, but a net decrease of 18 stores compared to the end of the previous year [2] - The company signed NBA player Yang Hansheng, which is expected to boost basketball category sales, as basketball sales declined by 20% year-on-year in Q2 2025 [2] Group 2 - Li Ning plans to increase marketing and R&D investments related to the Olympics and technology in the second half of 2025 and into 2026, following its partnership with the Chinese Olympic Committee [3] - The company deepened discounts in Q2 2025 to drive sales, and inventory levels improved with a sales-to-inventory ratio of around 4 months [3] - Profit forecasts for 2025-2027 have been adjusted downwards, with net profits revised to 2.31 billion, 2.60 billion, and 2.93 billion respectively, while maintaining a "buy" rating based on long-term brand development potential [3]