智通财经APP获悉，米兰时间2月5日， 2026年米兰冬奥会"中国之家"举办"李宁之夜"特别活动，并正式开启李宁主题特展。国际奥委会执委李玲蔚，中国奥 委会副秘书长兼中国奥委会市场开发部部长于建勇，李宁品牌创始人、集团董事长李宁，乒乓球奥运冠军、李宁品牌代言人丁宁、许昕以及中国短道速滑世 界冠军、短道速滑国际滑联级裁判杨阳等嘉宾出席活动，深度体验"中国之家"以及李宁品牌特展。 "中国之家"是中国奥委会为中国体育代表团参加国际综合性运动会设立并运营的综合性服务设施，不仅为中国体育代表团征战国际大赛提供了坚实保障，同 时为弘扬中华体育精神、展示中华传统文化、加强中外体育交往搭建了良好平台。 李宁品牌以中国奥委会官方合作伙伴身份，入驻米兰"中国之家"，携手中国奥委会，以"中国荣耀、科技体育、守护中国文化、时尚体育、绿色体育"五大主 题，全方位展示中国体育在尖端运动科技、东方美学设计与环保实践等方面的实力，共同向世界传递中国体育的突破精神、创新实力以及全新风貌。 李宁特展主体设计灵感源自中国传统建筑福建土楼，圆形边翼设计如飞鸟腾飞，与"中国之家"文化内涵自然融合，并传递出昂扬向上的竞技姿态。 中国荣耀 李宁同行 在" ...

Core Viewpoint - Li Ning has reported a slight decline in retail sales for Q4 2025, indicating operational pressure, yet market sentiment remains positive with several brokerages raising their forecasts for the company [1][2]. Group 1: Company Performance - As of December 31, 2025, Li Ning's retail sales (excluding Li Ning YOUNG) experienced a low single-digit decline year-on-year [1]. - Offline channels, including retail and wholesale, saw a mid-single-digit decline, while e-commerce sales remained flat [1]. - For the first half of 2025, Li Ning's revenue reached 14.817 billion yuan, a year-on-year increase of 3.3%, but net profit fell by approximately 11% to 1.737 billion yuan [3]. Group 2: Market Sentiment and Forecasts - Following the operational update, Li Ning's stock price rose over 5%, reflecting positive market sentiment [1]. - Morgan Stanley forecasts moderate revenue growth for Li Ning in 2025, with net profit margins expected to stabilize at a high single-digit level [1]. - Analysts from浦银国际 suggest that if Li Ning's brand strength improves and sales trends show clear signs of recovery, the stock price could see significant upward momentum [2]. Group 3: Industry Context - The Chinese sports footwear and apparel market is characterized by intense competition, with major brands like Nike and Adidas facing challenges despite their focus on the region [2]. - Domestic brands such as Anta and 361° are maintaining growth, but increased discounting is eroding profit margins across the industry [2]. - Anta's gross margin declined by 0.7 percentage points to 63.4% in the first half of 2025, highlighting the competitive pressures in the market [2]. Group 4: Strategic Initiatives - Li Ning has partnered with the Chinese Olympic Committee, launching new products and stores aimed at capturing the mid-to-high-end market segment [4][6]. - The company is also focusing on outdoor retail spaces to penetrate niche markets, indicating a strategy to attract new customer segments [6]. - With the upcoming 2026 Milan Winter Olympics, Li Ning anticipates increased brand exposure and potential sales growth during this period [8].

Core Viewpoint - Li Ning's stock rose over 4%, reaching HKD 17.92 with a trading volume of HKD 322 million, reflecting positive market sentiment driven by brand strength initiatives and product launches [1] Group 1: Company Developments - Li Ning officially announced the release of the Wade's Way 12LUX x AAPE collaboration series, set to launch on November 22 [1] - The company is focusing on enhancing brand strength, which has injected optimism into the market according to Ping An International [1] - Dongwu Securities highlighted the release of the 2026 Milan Winter Olympics Chinese sports delegation award equipment at the end of October, emphasizing ongoing marketing activities related to the Olympics and technology [1] Group 2: Market Outlook - Analysts believe that Li Ning is on the right strategic path, with investments in brand strength and professional product development laying a foundation for future performance improvement [1] - The long-term market performance for brands is expected to recover, supported by Li Ning's efforts to solidify its professional image and leadership position [1]

Core Viewpoint - Li Ning's stock has risen over 4%, currently trading at 17.92 HKD with a transaction volume of 322 million HKD, reflecting positive market sentiment driven by brand strength initiatives and product development [1] Group 1: Company Developments - Li Ning officially announced the launch of the "Way of Wade 12 LUX x AAPE" collaboration series, set to be released on November 22 [1] - The company is focusing on enhancing brand strength, which is expected to inject optimism into the market [1] Group 2: Market Analysis - According to浦银国际, Li Ning is on the right strategic path, with investments in brand strength and professional product development laying a foundation for future performance improvement [1] - 东吴证券 highlighted that the company is actively conducting marketing activities related to the 2026 Milan Winter Olympics, reinforcing its professional brand image and leading position in the market [1]

Core Viewpoint - The article highlights the rapid development of the ice and snow sports industry in China, particularly in the context of the upcoming Milan-Cortina Winter Olympics, showcasing the early opening of ski resorts and the increasing participation in winter sports [6][22]. Group 1: Ski Resort Developments - The Wanlong Ski Resort opened its season on October 21, marking the earliest opening in its 23-year history, attributed to favorable weather and upgraded snow-making capabilities [8]. - Chongli has established itself as the largest high-end ski resort area in China, with nine international-standard ski resorts and 219 ski trails, enhancing the overall visitor experience through various upgrades [10][12]. - The upcoming "Yunding Peak Season" will host four top-tier international events, featuring elite athletes like Gu Ailing and Su Yiming, further promoting the region as a winter sports destination [10][12]. Group 2: Regional Economic Impact - The ice and snow economy is becoming a key driver for regional vitality, transforming Chongli's tourism from traditional sightseeing to high-end winter vacations, creating numerous job opportunities in ski instruction, resort operations, and hospitality [14]. - In Northeast China, various ski resorts are also gearing up for the winter season, with Liaoning Province planning to host 125 ice and snow events, expected to attract nearly 500,000 participants [16][18]. Group 3: National Ice and Snow Economy - The total scale of China's ice and snow economy reached 980 billion yuan in 2024, reflecting an 8% year-on-year growth, significantly outpacing some traditional industries [22]. - The "ice and snow sports+" concept is emerging as a new engine driving the ice and snow economy, supported by national policies and product supply, aiming for a target of 1.5 trillion yuan by 2030 [22]. Group 4: Upcoming Winter Olympics - As the Milan Winter Olympics approaches, Chinese athletes are intensively training to achieve their best overseas performance, with a focus on surpassing the previous record of 5 gold, 2 silver, and 4 bronze medals from the Vancouver Olympics [24][28]. - Major brands are actively promoting their involvement in the Olympics, with initiatives like the collaboration between the Chinese Olympic Committee and Li Ning to unveil the official gear for the Chinese delegation [30].

Core Insights - The total scale of China's ice and snow economy is projected to reach 980 billion yuan in 2024, reflecting an 8% year-on-year growth, indicating a robust development trajectory towards the 1.5 trillion yuan target by 2030 [2][15]. Group 1: Ice and Snow Economy Development - The ice and snow economy is becoming a key driver of regional vitality, transforming tourism in areas like Chongli from traditional sightseeing to high-end ice and snow resorts, creating numerous job opportunities in skiing instruction, venue operations, and hospitality [9]. - The upcoming winter season will feature a series of high-profile events, including international and national competitions, enhancing the appeal of ice and snow tourism [7][9]. Group 2: Infrastructure and Event Planning - Chongli has established nine international-standard ski resorts, with a total of 219 ski trails spanning 178 kilometers, making it the largest high-end ski cluster in China [5]. - The Yun Ding Ski Park, a venue repurposed for the Beijing 2022 Winter Olympics, will host several top-tier competitions, including the FIS World Cup events, attracting elite athletes [5][7]. Group 3: Regional Initiatives and Competitions - Northeast China is also ramping up its ice and snow tourism, with Liaoning Province planning to host 125 ice and snow events this winter, expected to engage nearly 500,000 participants [10]. - The Long White Mountain region in Jilin is set to open its ski season, with multiple ski resorts joining the winter tourism festivities, further promoting regional tourism [12][13]. Group 4: Athlete Preparation for Winter Olympics - Chinese athletes are intensively training for the upcoming Milan-Cortina Winter Olympics, with a focus on achieving the best overseas performance, aiming to surpass the previous medal tally from the Vancouver Olympics [16][21]. - The Chinese Olympic Committee has partnered with brands like Li Ning to unveil the official gear for the 2026 Winter Olympics, showcasing a blend of advanced sports technology and traditional aesthetics [18][20].

Group 1 - The Li Ning brand showcased its presence at the Tmall Double 11 Super Launch event in Shanghai, coinciding with the 100-day countdown to the 2026 Milan Winter Olympics, emphasizing the Olympic spirit and culture [1] - Tmall's mascot "Mao Tiantian" wore a replica of Li Ning's 1992 award ceremony outfit and interacted with the official mascots of the 2026 Milan Winter Olympics, Tina and Milo, highlighting the collaboration between the brand and the Olympic event [3] - Li Ning officially launched the "Gold Standard" product line, which integrates top-tier sports technology with minimalist design, aimed at promoting high-quality living across various scenarios, serving as a key vehicle for conveying sports spirit [3] Group 2 - The "Gold Standard" fashion show was themed "Heart Fire, Glory," featuring the Chinese sports delegation's award equipment for the 2026 Milan Winter Olympics as a highlight of the event [3]

Core Viewpoint - Li Ning brand showcased its latest offerings at the Tmall Double 11 Super Release event, emphasizing its partnership with the Chinese Olympic Committee and the International Olympic Committee to promote Olympic spirit and culture ahead of the 2026 Milan Winter Olympics [1][8] Group 1: Event Highlights - The event featured a special "Milan Shining" segment, celebrating the countdown to the 2026 Milan Winter Olympics with appearances from Tmall's mascot and the official mascots of the Olympics [1] - Li Ning's new "Gold Standard" series was launched, focusing on high-quality, multi-scenario lifestyle products under the theme "Ignite the Heart, Honor" [3][10] Group 2: Product Design and Technology - The design of the award-winning gear for the Chinese sports delegation at the 2026 Milan Winter Olympics incorporates traditional Chinese patterns, specifically the "Double Victory Pattern," symbolizing various forms of victory [5] - The gear features advanced aerospace technology for temperature control, moisture permeability, and protection, showcasing China's capabilities in sports technology [6][8] Group 3: Strategic Partnerships and Cultural Promotion - Li Ning, as an official partner of the Chinese Olympic Committee, is leveraging its resources and platform to promote winter sports and Olympic culture [8][12] - The brand's initiatives include reviving classic designs, such as the 1992 award outfit, and launching the "Gold Standard" product line to express its commitment to supporting Chinese sports [12]

Core Viewpoint - Li Ning brand showcased its latest offerings at the Tmall Double 11 Super Release event, emphasizing its partnership with the Chinese Olympic Committee and the International Olympic Committee to promote Olympic spirit and culture [1][6]. Group 1: Event Highlights - The event featured a special segment called "Milan Shining," celebrating the countdown to the 2026 Milan Winter Olympics, with notable appearances from Li Ning and the Chinese Olympic Committee [1]. - Tmall's mascot "Mao Tiantian" appeared in a replica of the 1992 award ceremony outfit, interacting with the mascots of the 2026 Milan Winter Olympics, Tina and Milo, showcasing a cultural dialogue [1]. Group 2: Product Launch - Li Ning introduced its new "Gold Standard" series, focusing on multi-scenario, high-quality living, under the theme "Heart Fire, Glory," encouraging individuals to ignite their passion [3][8]. - The "Gold Standard" series aims to serve as a key vehicle for conveying the spirit of sports, integrating top-tier footwear and apparel technology with minimalist design [8]. Group 3: Design and Technology - The design of the 2026 Milan Winter Olympics Chinese sports delegation's award outfits incorporates traditional Chinese patterns, specifically the "Double Victory Pattern," symbolizing various victories and further innovated into the "Double Victory Snowflake Pattern" [5]. - The color scheme features "Chinese Red" and "Snow Mountain White," utilizing advanced aerospace technology for thermal insulation, moisture permeability, and waterproofing, ensuring comprehensive protection for athletes [5]. Group 4: Strategic Partnerships - The Director of the Sports Equipment Center of the General Administration of Sport of China highlighted the collaboration between local enterprises like Li Ning and Alibaba in promoting ice and snow sports and Olympic culture [6]. - Li Ning's long-standing support for the Chinese Olympic team is evident through its initiatives, including the revival of the 1992 award outfit and the launch of the "Gold Standard" series, reinforcing its commitment to Chinese sports [9].

Core Insights - Li Ning showcased its brand at the Tmall Double 11 Super Release event, emphasizing its role as an official partner of the Chinese Olympic Committee and its collaboration with Tmall to promote Olympic spirit and culture [1][6] - The event featured the debut of the "Gold Standard" product line, which aims to provide high-quality lifestyle choices while embodying the spirit of Chinese sports [5] Group 1: Event Highlights - The event included a special segment titled "Milan Shining," celebrating the countdown to the 2026 Milan Winter Olympics, with Li Ning and Tmall collaborating to convey Olympic values [1] - Tmall's mascot "Mao Tiantian" appeared in a replica of the 1992 award ceremony outfit, interacting with the mascots of the 2026 Milan Winter Olympics, showcasing a cultural dialogue [1] Group 2: Product Launch and Design - Li Ning's design for the 2026 Milan Winter Olympics Chinese sports delegation's award outfits incorporates traditional Chinese patterns, specifically the "Double Victory Pattern," and features innovative elements like the "Double Victory Snowflake Pattern" [2] - The design utilizes advanced aerospace technology for performance enhancements, focusing on temperature retention, moisture permeability, and protection, showcasing China's technological capabilities in sports [2][4] Group 3: Strategic Partnerships and Contributions - The Director of the Sports Equipment Center of the General Administration of Sport of China highlighted the importance of local companies like Li Ning and Alibaba in promoting winter sports and Olympic culture [4] - Li Ning's ongoing commitment to supporting Chinese sports is evident through its partnerships and product innovations, reinforcing its position as a key player in the sports apparel industry [6]