Li Ning (02331) is now up more than 5%, at 5.28%, at 16.76 Hong Kong dollars, with a turnover of 0.249 billion Hong Kong dollars.
According to the Wisdom Finance APP, Li Ning (02331) is now up more than 5%, at 5.28%, at 16.76 Hong Kong dollars, with a turnover of 0.249 billion Hong Kong dollars.
On the news front, on October 22, Li Ning Group announced the establishment of a joint venture company through its indirect wholly-owned subsidiary LN Co with Founder Co, HongShan Venture, HongShan Motivation, with the aim of exclusively developing and operating Li Ning brand business (including selling Li Ning brand products) outside mainland China. At the same time, Li Ning Group and founder Li Ning together hold 55% of the equity in the joint venture company, effectively safeguarding the reputation of the "Li Ning" brand and maintaining sufficient influence over the joint venture company.
Tianfeng Securities pointed out that introducing Sequoia China can allow the joint venture company to share Sequoia China's cross-border resources and cross-border business experience, helping to accelerate the development pace and efficiency of the joint venture company. Haitong Securities also pointed out that the company's announcement of a joint venture with Red Capital to be responsible for the overseas operation and promotion of the Li Ning brand, we expect that at this stage, the main focus will be on Southeast Asia and Belt and Road countries' markets.