Core Viewpoint - Daiwa Capital upgraded Li Ning's stock rating from "Hold" to "Buy" and raised the target price to HKD 24, citing attractive risk-reward conditions for the company amid low market expectations, improving fundamentals, and upcoming major sports events [1] Company Summary - Li Ning's stock price increased by 2.64% on the day it became a partner of the Chinese Olympic Committee [1] - The company is expected to face higher demands in R&D and innovation as it collaborates with the Chinese Olympic Committee, requiring more human and financial resources [1] - The competitive landscape for Chinese sports brands has entered a new phase, with intensified competition across branding, products, and channels [1] Industry Summary - Guosen Securities reported that the sports and outdoor industry is expected to show superior growth by Q3 2025, with Q4 entering a peak season due to holiday promotions and new product launches [1]