Core Viewpoint - In Q2 2025, Li Ning's overall revenue experienced low single-digit growth, with offline revenue declining primarily due to the impact of store closures; e-commerce revenue showed mid-single-digit growth, influenced by competition and consumer sentiment [1][2] Revenue Performance - Q2 2025 revenue growth for Li Ning brand (excluding Li Ning YOUNG) was low single-digit, with offline channels (including retail and wholesale) recording a low single-digit decline; direct retail channels saw a mid-single-digit decline, while wholesale channels experienced low single-digit growth; e-commerce business recorded mid-single-digit growth [1][2] - Revenue performance in Q2 was affected by weather conditions in April, gradual improvement in May, and weak performance in June due to holiday misalignment; July continued the weak trend seen in Q2 [1][2] Inventory Management - Inventory management was effective, with the inventory-to-sales ratio improving to approximately 4 months, down from 5 months in Q1 2025; discounts were deepened both online and offline to ensure healthy channel inventory [2] Store Operations - The number of Li Ning sales points totaled 6,099 (excluding Li Ning YOUNG), a net decrease of 18 from the beginning of the year; direct retail business saw a net decrease of 19, while wholesale business increased by 1; the number of children's clothing sales points (Li Ning YOUNG) was 1,435, a net decrease of 33 [2] Marketing Strategy - In H2 2025, the company plans to increase marketing investments around the NBA (Yang Hansheng) and the Olympics, launching limited edition products and personal logo products in line with the NBA Summer League and the Milan Winter Olympics [3] - The marketing expense ratio in H2 is expected to be higher than in H1 due to increased spending [3] Financial Forecast - Revenue projections for 2025-2027 are set at 28.93 billion, 30.51 billion, and 32.08 billion yuan, with year-on-year growth of 0.9%, 5.4%, and 5.2% respectively; net profit forecasts are 2.43 billion, 2.62 billion, and 2.78 billion yuan, with year-on-year changes of -19.5%, +7.8%, and +6.2% respectively [3]

尽管马斯克曾于3月宣称"未来两年美国汽车产量将翻倍"，但Model Y改款销量平淡、Cybertruck产能瓶 颈以及储能业务利润空间受关税挤压等现实问题，使这一目标面临挑战。分析师认为，此次强制休假不仅 是生产节奏的调整，更是特斯拉在需求降温背景下从"扩张优先"转向"库存管控"的战略信号。 截至发稿，特斯拉官方尚未就休假原因置评，但行业观察者指出，电动车市场竞争加剧与消费者偏好变 化，或将迫使特斯拉重新评估其全球产能布局。 进固态电池群 ，加小编微信：13248122922 注：添加好友请备注 公司名称、姓名、职务，入群需发送1张您的纸质名片~ 会议详情 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 本文来源：金属加工世界 据外媒报道， 特斯拉位于美国得克萨斯州奥斯汀的超级工厂宣布，Model Y和Cybertruck生产线员工将 于5月26日阵亡将士纪念日当周强制休假 。这是 该工厂首次在同期安排长达一周的停产， 与去年同期的 满负荷运转形成鲜明对比。 根据内部通知，员工可选择使用带薪假期或参与清洁、培训等非生产性工作，但生产线将完全停摆。多名 员工反映，自今 ...