花旗：对滔搏(06110)开展30日上行观察期 评级“买入”

Core Viewpoint - Citi has initiated a 30-day observation period for Tmall (06110), highlighting Nike's recent significant executive restructuring aimed at streamlining operations [1] Group 1: Company Developments - Nike has announced a major leadership adjustment, placing the brand president and regional leaders at the same level to enhance operational efficiency [1] - The restructuring is expected to provide the China leadership team with greater global authorization, increased operational flexibility, and richer brand resources [1] Group 2: Market Impact - The Chinese market accounts for approximately 50% to 60% of Tmall's sales, and the changes are anticipated to drive a recovery in business within this market next year [1] - Citi has set a target price of HKD 3.75 for Tmall, with a rating of "Buy" [1]