Expectations reset with positive initiatives

M N 21 Mar 2024 CMB International Global Markets | Equity Research | Company Update Li Ning (2331 HK) Expectations reset with positive initiatives Target Price HK$24.86 We do find Li Ning’s FY23 results and FY24E guidance are inline, even though the views from the market are quite mixed. Anyhow, we do appreciate (Previous TP HK$32.93) management’s efforts to fix the bugsell and the branding power issues, as well Up/Downside 15.9% as resetting investors’ expectation with a prudent guidance. With all the prog ...