Group 1 - The core message highlights the significant promotional activities by Clarins to celebrate the 40th anniversary of its iconic product, the Double Serum, featuring the global skincare ambassador Dilireba in Paris [1][6] - Clarins achieved a notable increase in brand visibility, ranking second in the beauty sector with a brand index of 902.2, reflecting a rise of 39 positions compared to the previous week [3][4] - The brand's marketing strategy includes engaging consumers through a membership event from September 26 to October 9, offering various benefits to enhance customer loyalty [5][6] Group 2 - The collaboration with Dilireba aims to enhance the brand's influence and product recognition by showcasing the product's development process and sharing the Parisian experience [4][6] - During the promotional period, Clarins is offering special deals on its products, such as buy-one-get-one promotions and gift samples, to stimulate sales [5][6] - User feedback on social media platforms indicates a strong interest in the anti-aging and brightening effects of Clarins products, particularly the Double Serum and other skincare items [7][9]

Company Overview - The major shareholder, Everbright, announced an increase in its stake in Li Ning Company by acquiring 18.09 million shares for a total of HKD 275 million at an average price of HKD 15.20 per share [1] Business Performance - Li Ning's basketball business is under pressure, with retail sales expected to decline by 21% in 2024, accounting for 21% of the company's overall sales [1] - Despite the challenges, Li Ning continues to sponsor various basketball leagues and is focused on launching new products and technologies to maintain brand positioning [1] - The company signed a player who was selected 16th in the 2025 NBA Draft, marking the third Chinese player to be a first-round pick, which is expected to enhance brand visibility in the basketball sector [1] Strategic Initiatives - In the second quarter of 2025, Li Ning's brand is still facing pressure from a volatile market environment and intense competition, particularly in retail and discounting [2] - The company aims to innovate in core categories like running and basketball while increasing exposure and investment in sports like badminton and table tennis [2] - A contract with the Chinese Olympic Committee was completed at the end of April, which is anticipated to lead to more marketing events in the second half of 2025 [2] Shareholder Confidence - The major shareholder's increase in stake from January to June 2025 reflects confidence in Li Ning's "single brand, multiple categories, and multi-channel" core strategy [2] Financial Forecast - The earnings per share (EPS) forecast for 2025 and 2026 remains unchanged at CNY 0.92 and CNY 1.07, respectively, with the current stock price corresponding to 16 and 14 times the projected earnings for those years [2] - The target price is maintained at HKD 20.82, indicating a potential upside of 28% from the current stock price [2]