Ge Long Hui·2026-01-16 03:21Group 1 - Li Ning (02331.HK) saw a significant increase of over 5% in early trading, reaching a new high of 20.62 HKD, marking a reversal trend with an increase of over 20% since early December last year, and currently has a total market capitalization of 52.8 billion HKD [1] - Citigroup reported that Li Ning's retail sales for the Li Ning brand experienced a low single-digit decline year-on-year in the last quarter of last year, which was in line with their expectations. They anticipate a low single-digit growth in overall sales for the group for the year [1] - Morgan Stanley noted an increasing market expectation for Li Ning's performance turnaround and rated the stock as "Overweight" [1] - Haitong International expressed optimism about Li Ning's long-term brand strength and consumer perception, raising the target price to 22.3 HKD [1] - Daiwa reiterated a "Buy" rating, believing that Li Ning's recovery momentum is progressing [1]