大华继显：维持李宁“持有”评级 管理层预期去年全年收入预期可实现温和增长

Core Viewpoint - The management of Li Ning (02331) 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 - The expected revenue growth is driven by government subsidies exceeding expectations, improved cost control by the company, and cost savings from closing underperforming stores [1] - The report maintains a "Hold" rating for Li Ning [1]