大行评级｜大华继显：上调李宁目标价至20.2港元 维持“持有”评级

Core Viewpoint - The report from Daiwa Capital Markets indicates that Li Ning's management is confident in exceeding previous guidance for the full year, expecting moderate revenue growth and a net profit margin at the upper limit of the high single-digit percentage guidance [1] Group 1 - Li Ning's revenue growth is expected to be supported by government subsidies exceeding expectations [1] - The company has strengthened cost control measures and closed some loss-making stores, contributing to cost savings [1] - Daiwa has raised Li Ning's target price from HKD 18.5 to HKD 20.2 while maintaining a "Hold" rating [1]