bearish
Li Ning (2331 HK): Update On The Name Given Potential Privatization News
588 Views12 Mar 2024 22:57
According to public news today afternoon during trading hours, the founder and biggest shareholder of Li Ning (2331 HK), Mr. Li Ning, is mulling privatizing the public company.
Boomeranged on Mon, 25 Mar 2024 16:02
FY2023 results out last week, which showed net profit down 22% yoy in 2023 (-43% yoy in 2H23), and sales up 7% yoy (+1% yoy in 2H23). The company further guided for a mid-single-digit sales growth and low-teens net profit margin in 2024. Nothing suggests a change in thesis as the recovery remains fairly muted and valuation remains full.
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Steve Zhou, CFA
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