Li Ning's quarterly update beats fears, but the fourth-quarter tone looks weak
Deutsche Bank says Li Ning's latest quarter was better than feared, though its outlook for the fourth quarter remains weak, according to Market Talk.
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what happened
According to Market Talk, Li Ning's latest quarterly update came in better than anticipated, but Deutsche Bank analyst Sammi Xu says the tone for the fourth quarter remains weak. Steeper discounts and lower average selling prices amid stronger competition weighed on the running shoe market, while basketball, badminton and athleisure lines were also soft. The channel mix improved in direct retail and e-commerce, yet overall sell-through stayed negative because of ongoing pressure in wholesale. Deutsche Bank lowered its target price to HK$14.70 from HK$15.20 and keeps a hold rating. The shares are up 5.5% at HK$13.54.
why it matters
For investors the picture is mixed: the quarter was stronger than feared, but weak footwear sell-through and price competition point to a tough stretch ahead. Hong Kong-listed sportswear stocks remain sensitive to pricing discipline and the health of wholesale channels.
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- Li Ning's 3Q Better Than Feared But 4Q Tone Looks Weak — Market Talk, 27 October 2026 at 04:22 UTC
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