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港股
詳情
本頁面由Tiger Trade Technology Pte. Ltd.提供服務
李寧
13.010
-0.050
-0.38%
手動刷新
成交量：
4,072.60萬
成交額：
5.28億
市值：
336.31億
市盈率：
9.80
高：
13.130
開：
13.040
低：
12.730
收：
13.060
52周最高：
22.362
52周最低：
12.659
股本：
25.85億
香港流通股本：
25.85億
量比：
0.89
換手率：
1.58%
股息：
0.68
股息率：
5.19%
每股收益(LYR):
1.328
淨資產收益率：
10.80%
總資產收益率：
6.70%
市淨率：
1.00
市盈率(LYR):
9.80
市銷率:
0.96
資料載入中...
總覽
公司
新聞
公告
貝萊德：在李寧H股的持股比例升至7.13%
格隆汇
·
07/30
港股異動 | 體育用品股延續近期上漲 體育產業「十五五」出台 有望帶動全產業鏈景氣上行
智通财经
·
07/29
異動解讀 | 名譽侵權案勝訴疊加耐克回收經銷權利好，李寧盤中大漲5.41%
异动解读
·
07/29
異動解讀｜李寧盤中上漲5.27%，名譽侵權案勝訴疊加耐克回收經銷權利好
行情直击
·
07/29
體育用品板塊活躍 李寧（02331）漲4.24% 機構指各品牌庫存水平普遍維持健康
金吾财讯
·
07/29
流水轉負、淨利三連降，國潮褪色後，李寧為何守不住龍頭基本盤？
理财周刊-财事汇
·
07/28
李寧勝訴
蓝鲸新闻
·
07/28
【券商聚焦】華興證券維持李寧(02331)買入評級 指庫裏合作為長期戰略佈局
金吾财讯
·
07/23
港股概念追蹤 | 體育產業2030年劍指7萬億目標 運動板塊迎來價值重估機遇(附概念股)
智通财经
·
07/23
智通港股早知道 | 體育強國建設「十五五」規劃發布 谷歌(GOOGL.US)績後跌超4%
智通财经
·
07/23
花旗：對安踏體育(02020)及李寧(02331)開設未來30日正面催化觀察 看好奪取Nike中國市場份額
智通财经
·
07/22
大行評級｜花旗：對安踏體育及李寧開啓30日正面催化劑觀察，維持「買入」評級
格隆汇
·
07/22
《大行》花旗：Nike轉向線上DTC策略料流失中國市場份額 看好李寧(02331.HK)及安踏(02020.HK)
阿斯达克财经
·
07/22
【券商聚焦】廣發證券維持李寧(02331)買入評級 看好奧運周期品牌勢能向上
金吾财讯
·
07/21
【券商聚焦】中國銀河：運動流水按月降速，經營質量穩健
金吾财讯
·
07/21
李寧(02331)出現大手賣出160萬股，成交價$14.99，涉資2.398千萬
阿斯达克财经
·
07/20
【券商聚焦】華泰證券維持李寧(02331)買入評級 看好逆境經營韌性
金吾财讯
·
07/20
【券商聚焦】長江證券維持李寧(02331)買入評級 指短期承壓但催化清晰
金吾财讯
·
07/20
【券商聚焦】交銀國際維持李寧(02331)買入評級 指2季度流水弱於預期
金吾财讯
·
07/17
體育用品股盤初活躍 李寧(02331)漲2.93% 體育消費為「十五五」擴大消費規劃重點領域
金吾财讯
·
07/17
更多
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| 名譽侵權案勝訴疊加耐克回收經銷權利好，李寧盤中大漲5.41%","url":"https://stock-news.laohu8.com/highlight/detail?id=1159074564","media":"异动解读","labels":["movement"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/1159074564?lang=zh_tw&edition=fundamental","pubTime":"2026-07-29 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11:19","pubTimestamp":1785295162,"startTime":"0","endTime":"0","summary":"7月29日，李宁(02331.HK)盘中上涨5.27%，报15.38港元，成交额2.03亿港元。消息面上，7月28日李宁公司发布声明，就此前起诉多个网络账号名誉侵权案已取得胜诉判决，法院认定相关账号捏造散播虚假信息构成侵权，判令被告赔偿损失。此前有网络用户虚构\"退货潮\"\"股价暴跌\"等恶意话题，对公司声誉造成冲击。同时，近日耐克宣布自明年起回收中国内地线上经销权，机构认为短期利好本土运动龙头。花旗此前已对李宁开启30日正面催化剂观察，看好其夺取耐克中国市场份额，维持\"买入\"评级。（以上内容均基于市场公开消息，由程序或算法智能生成，仅作为股价异动提醒，不作为投资建议或交易依据。）","market":"hk","thumbnail":"","type":0,"news_type":0,"thumbnails":[],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"1","news_top_title":"李宁盘中上涨5.27%，名誉侵权案胜诉叠加耐克回收经销权利好","news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["02331"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2655785863","title":"體育用品板塊活躍 李寧（02331）漲4.24% 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涨4.24%，安踏体育涨3.24%，滔搏涨3.10%，361度涨1.97%，特步国际涨1.61%。整体来看，安踏体育与361度展现出较强的经营韧性，而李宁与特步的主品牌流水则面临一定的短期压力。机构称，尽管行业增速有所放缓，但各品牌库存水平普遍维持健康，多品牌矩阵协同与渠道结构优化正成为支撑企业稳健发展的核心驱动力。","market":"nz","thumbnail":"https://static.szfiu.com/news/20241108/OTEzM2QyMzQzMjc2MzA3OTk2MA==.jpg","type":0,"news_type":0,"thumbnails":["https://static.szfiu.com/news/20241108/OTEzM2QyMzQzMjc2MzA3OTk2MA==.jpg"],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"1987020","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"1","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["LU0593848301.USD","ANPDY","LU0708995583.HKD","IE00BMCWC346.EUR","LU1102505929.USD","LU0823426480.USD","LU2039709279.SGD","BK1502","LNNGY","LU0251144936.SGD","LU1102505762.USD","06110","IE00BQXX3C00.GBP","BK1168","IE00B031J352.USD","LU0605514214.HKD","LU0048575426.USD","LU0048580855.USD","LU1048588211.SGD","LU0572944931.SGD","LU0261950470.USD","LU1880383366.USD","01361","82020","LU2488822045.USD","LU0244354667.USD","IE0008368742.USD","LU2125910500.SGD","IE00BGV7N243.SGD","LU0702159343.USD","IE00BQXX3F31.USD","02020","LU2045819591.USD","LU0072462343.USD","BK1512","82331","LU0541501648.USD","LU0052750758.USD","LU0327786744.USD","LU0370786039.SGD","LU0320764599.SGD","BK1583","BK1114","01368","02331","IE0031814852.USD","LU1831875114.USD","IE00BQXX3D17.EUR","LU0348805143.USD","LU0823426308.USD"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2654003605","title":"流水轉負、淨利三連降，國潮褪色後，李寧為何守不住龍頭基本盤？","url":"https://stock-news.laohu8.com/highlight/detail?id=2654003605","media":"理财周刊-财事汇","labels":["dataReport"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2654003605?lang=zh_tw&edition=fundamental","pubTime":"2026-07-28 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指庫裏合作為長期戰略佈局","url":"https://stock-news.laohu8.com/highlight/detail?id=2653857717","media":"金吾财讯","labels":["corporation"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2653857717?lang=zh_tw&edition=fundamental","pubTime":"2026-07-23 15:33","pubTimestamp":1784792004,"startTime":"0","endTime":"0","summary":"金吾财讯 | 华兴证券发布研报指，李宁 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看好奪取Nike中國市場份額","url":"https://stock-news.laohu8.com/highlight/detail?id=2653596758","media":"智通财经","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2653596758?lang=zh_tw&edition=fundamental","pubTime":"2026-07-22 16:00","pubTimestamp":1784707249,"startTime":"0","endTime":"0","summary":"智通财经APP获悉，花旗发布研报称，决定关闭对安踏体育及李宁的短期看法，并开设为期30日的正面催化剂观察。主要催化因素为Nike在中国市场的份额有可能被安踏及李宁夺取，带来正面市场情绪。该行重申对中国运动服饰股的相对偏好顺序，依次为安踏、李宁及滔搏。安踏与李宁亦同时名列该行看好的10只具吸引估值的大型中国消费股之列。该行维持安踏及李宁“买入”评级，目标价分别为108.8港元及22.8港元。","market":"sh","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"http://www.zhitongcaijing.com/content/detail/1470851.html","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"1","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":"stock_zhitongcaijing","symbols":["ANPDY","LU0261950470.USD","LU0326950275.SGD","BK1500","BK1168","LU1201861249.SGD","LU0310800965.SGD","LNNGY","LU0130102774.USD","IE0008369823.USD","LU0251143458.SGD","TFNS","LU0261947096.USD","LU0140636845.USD","LU0593848301.USD","LU0162691827.USD","LU0320764599.SGD","IE00BSNM7G36.USD","LU1074936037.SGD","LU0650527681.SGD","LU2039709279.SGD","LU0314106906.USD","LU0128525689.USD","BK4207","82331","LU1506573853.SGD","LU2177674079.SGD","LU2125910500.SGD","BK4566","LU0605514214.HKD","LU0203345920.USD","LU1244550221.USD","LU2045819591.USD","BK4534","BK4559","LU0072461881.USD","LU0370786039.SGD","02020","06110","FTXO","BK4588","IYF","82020","LU1162221912.USD","BK1114","LU0477156953.USD","LU0980610538.SGD","LU1668664300.SGD","02331","LU0048597586.USD"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2653732814","title":"大行評級｜花旗：對安踏體育及李寧開啓30日正面催化劑觀察，維持「買入」評級","url":"https://stock-news.laohu8.com/highlight/detail?id=2653732814","media":"格隆汇","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2653732814?lang=zh_tw&edition=fundamental","pubTime":"2026-07-22 14:41","pubTimestamp":1784702505,"startTime":"0","endTime":"0","summary":null,"market":"hk","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"https://www.gelonghui.com/rss/live/live.xml","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":"live_gelonghui","symbols":["LU0593848301.USD","BK1168","IE00BQXX3D17.EUR","82020","IE00B031HY20.USD","LU0261950470.USD","LU2488822045.USD","LU0048580855.USD","LU0326950275.SGD","LU0327786744.USD","BK1500","LU1880383366.USD","LNNGY","BK1227","IE00BQXX3C00.GBP","LU0605514214.HKD","IE0008368742.USD","LU0541501648.USD","IE0008369823.USD","IE00BQXX3F31.USD","LU0251144936.SGD","LU2045819591.USD","LU1188198961.HKD","LU2039709279.SGD","LU2125910500.SGD","LU0823426480.USD","LU0370786039.SGD","BK1610","LU0594300419.USD","LU0251143458.SGD","IE00BYV24P56.USD","LU0244354667.USD","BK1521","LU0572944931.SGD","02331","LU1831875114.USD","LU0261947096.USD","LU0072462343.USD","LU0320764599.SGD","IE0031814852.USD","LU1102505762.USD","ANPDY","LU0463099449.HKD","LU2008162690.USD","LU0348805143.USD","82331","LU0650527681.SGD","LU0541502299.USD","02020","BK1512"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2653005780","title":"《大行》花旗：Nike轉向線上DTC策略料流失中國市場份額 看好李寧(02331.HK)及安踏(02020.HK)","url":"https://stock-news.laohu8.com/highlight/detail?id=2653005780","media":"阿斯达克财经","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2653005780?lang=zh_tw&edition=fundamental","pubTime":"2026-07-22 10:57","pubTimestamp":1784689020,"startTime":"0","endTime":"0","summary":"花旗指出，在中国本土品牌中，李宁与安踏体育均可望从Nike手中夺取市场份额。鉴于李宁的产品定价相较其他中国品牌更接近Nike，预期李宁将成为行业格局变化下的最大受益者。","market":"sh","thumbnail":"https://plib.aastocks.com/aafnnews/image/medialib/20250822105557608_s.jpg","type":0,"news_type":0,"thumbnails":["https://plib.aastocks.com/aafnnews/image/medialib/20250822105557608_s.jpg"],"rights":{"source":"aastocks_highlight","url":"http://www.aastocks.com/tc/stocks/news/aafn-con/NOW.1534370/latest-news/AAFN","rn_cache_url":null,"directOrigin":true},"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"http://www.aastocks.com/tc/stocks/news/aafn-con/NOW.1534370/latest-news/AAFN","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"-1","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":"aastocks_highlight","symbols":["LU0348805143.USD","LU2045819591.USD","BK1589","IE00BQXX3D17.EUR","LU0327786744.USD","LU0048575426.USD","LU0140636845.USD","LU1880383366.USD","IE00BQXX3F31.USD","LU0052750758.USD","82020","LU0593848301.USD","LU1102505762.USD","LU2488822045.USD","LU0251143458.SGD","BK1521","ANPDY","LU0251144936.SGD","BK1500","IE00BMCWC346.EUR","LU1102505929.USD","LU0244354667.USD","LU0605514214.HKD","IE00BYV24P56.USD","82331","IE00B031HY20.USD","IE0008368742.USD","LU0541501648.USD","LU0048580855.USD","LU0594300179.USD","LU1048588211.SGD","LU2008162690.USD","LU2125910500.SGD","BK1610","LU0370786039.SGD","LU0594300419.USD","IE0031814852.USD","LU0261947096.USD","LU0572944931.SGD","LU0261950470.USD","LU0823426480.USD","BK1512","02020","LNNGY","02331","IE0008369823.USD","IE00BGV7N243.SGD","IE00BQXX3C00.GBP","BK1227","LU0650527681.SGD"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2653004221","title":"【券商聚焦】廣發證券維持李寧(02331)買入評級 看好奧運周期品牌勢能向上","url":"https://stock-news.laohu8.com/highlight/detail?id=2653004221","media":"金吾财讯","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2653004221?lang=zh_tw&edition=fundamental","pubTime":"2026-07-21 14:59","pubTimestamp":1784617179,"startTime":"0","endTime":"0","summary":"金吾财讯 | 广发证券发布研报指，李宁 26Q2大货全渠道流水同比实现低单位数下降，主要受宏观经济疲软、消费低迷及极端天气影响。渠道调整方面，大货直营渠道持续优化，截至26Q2李宁大货门店6063家，同比净减少36家，其中零售渠道净减少66家，批发渠道净增加38家。李宁YOUNG业务表现强劲，门店达1516家，同比净增81家，26Q2童装流水同比实现低双位数增长。","market":"sh","thumbnail":"https://static.szfiu.com/news/20250109/MTU3MGM5Y2M3ZDk5Mjg2ODIwNjM2NDU0OA==.jpg","type":0,"news_type":0,"thumbnails":["https://static.szfiu.com/news/20250109/MTU3MGM5Y2M3ZDk5Mjg2ODIwNjM2NDU0OA==.jpg"],"rights":null,"property":["rate"],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"1986398","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"1","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["01776","02331","KCE"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2653422472","title":"【券商聚焦】中國銀河：運動流水按月降速，經營質量穩健","url":"https://stock-news.laohu8.com/highlight/detail?id=2653422472","media":"金吾财讯","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2653422472?lang=zh_tw&edition=fundamental","pubTime":"2026-07-21 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中国银河证券表示，主要运动品牌发布26Q2流水，增速环比普遍放缓。外部扰动叠加高基数，头部集团经营稳健。主要体育服饰品牌Q2流水增速环比降速，主要源于2026Q2消费市场不确定性仍存，行业整体竞争激烈，受天气影响客流下滑。李宁直营与批发渠道均承压，主要受终端消费疲软、行业折扣竞争加剧影响。安踏主品牌有所承压，但包含迪桑特、可隆的其他品牌经营保持稳健。专业运动与高端品牌成为增长主力。","market":"hk","thumbnail":"https://static.szfiu.com/news/20250106/ZDQ3YWRiNzU2MjI5OWUwYTllMmZlMTAyNzEyNzQzMTU2MQ==.jpg","type":0,"news_type":0,"thumbnails":["https://static.szfiu.com/news/20250106/ZDQ3YWRiNzU2MjI5OWUwYTllMmZlMTAyNzEyNzQzMTU2MQ==.jpg"],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"1986340","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["IE00B031J352.USD","LU0708995583.HKD","BK1500","LU2039709279.SGD","LU1675838814.USD","02020","06881","IE00BVYPNQ40.USD","LU0359202008.SGD","LU0052750758.USD","LU0594300179.USD","BK1521","LU0821914370.USD","LU0823426480.USD","KCE","00330","LU0251144936.SGD","IE00B5MMRT66.SGD","LU0348805143.USD","LU0890818403.SGD","03306","601881","LU0244354667.USD","BK1114","IE0031814852.USD","IE0008368742.USD","LU0314109678.HKD","01361","IE00BGHQDM52.EUR","LU1831875114.USD","IE00B29SXG58.USD","LU0607220059.USD","LU0702159699.USD","LNNGY","02331","82331","LU0463099449.HKD","BK0188","ANPDY","LU1166156734.SGD","LU1880383366.USD","06110","02313","BK1589","IE00BZ08YT58.USD","01368","82020","03998","LU1813983027.USD","LU0862451837.USD"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2652299897","title":"李寧(02331)出現大手賣出160萬股，成交價$14.99，涉資2.398千萬","url":"https://stock-news.laohu8.com/highlight/detail?id=2652299897","media":"阿斯达克财经","labels":["shareholding"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2652299897?lang=zh_tw&edition=fundamental","pubTime":"2026-07-20 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看好逆境經營韌性","url":"https://stock-news.laohu8.com/highlight/detail?id=2652260899","media":"金吾财讯","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2652260899?lang=zh_tw&edition=fundamental","pubTime":"2026-07-20 14:17","pubTimestamp":1784528236,"startTime":"0","endTime":"0","summary":"金吾财讯 | 华泰证券发布研报指，李宁 公布2026年二季度运营情况，2Q26大货全渠道流水同比录得低单位数下滑，包含童装后全渠道流水基本持平，主要受零售环境偏淡、天气不佳导致客流下降及折扣加深影响。管理层暂维持全年收入及利润率指引。该行看好公司逆境下的经营韧性及中长期专业品牌势能提升。但管理层预计，受零售折扣逆风影响加剧，下半年毛利率将面临更高压力。华泰维持2026-28E归母净利润预测28.7/32.7/36.9亿元。","market":"hk","thumbnail":"https://static.szfiu.com/news/20250109/NjBmYTFlMmI3YzYzNjVkMWZlODgyMTcwNTE1Njk3NDY=.jpg","type":0,"news_type":0,"thumbnails":["https://static.szfiu.com/news/20250109/NjBmYTFlMmI3YzYzNjVkMWZlODgyMTcwNTE1Njk3NDY=.jpg"],"rights":null,"property":["rate"],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"1986260","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"1","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["02331","KCE"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2652662267","title":"【券商聚焦】長江證券維持李寧(02331)買入評級 指短期承壓但催化清晰","url":"https://stock-news.laohu8.com/highlight/detail?id=2652662267","media":"金吾财讯","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2652662267?lang=zh_tw&edition=fundamental","pubTime":"2026-07-20 13:49","pubTimestamp":1784526573,"startTime":"0","endTime":"0","summary":"金吾财讯 | 长江证券发布研报指，李宁 发布2026Q2运营数据，期内全渠道零售流水同比低单下滑，零售表现弱于预期。盈利预测与估值方面，该行预计李宁2026-2028年归母净利润分别为26亿元、30亿元及34亿元。维持“买入”评级。风险提示1、下沉市场拓展不及预期；2、专业运动品类增速不及预期；3、零售流水增长不及预期。","market":"other","thumbnail":"https://static.szfiu.com/news/20210810/NGI5ZWE4NDg5Y2ExYTk3MGU2NzMxODA4MzkxNTM=.jpg","type":0,"news_type":0,"thumbnails":["https://static.szfiu.com/news/20210810/NGI5ZWE4NDg5Y2ExYTk3MGU2NzMxODA4MzkxNTM=.jpg"],"rights":null,"property":["rate"],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"1986311","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["02331","000783","KCE"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2652476170","title":"【券商聚焦】交銀國際維持李寧(02331)買入評級 指2季度流水弱於預期","url":"https://stock-news.laohu8.com/highlight/detail?id=2652476170","media":"金吾财讯","labels":["dataReport"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2652476170?lang=zh_tw&edition=fundamental","pubTime":"2026-07-17 10:06","pubTimestamp":1784254011,"startTime":"0","endTime":"0","summary":"金吾财讯 | 交银国际研报指，根据李宁 公告，2026年2季度李宁品牌全平台零售流水同比录得低单位数下降，较1季度的中单位数增长走弱，低于我们此前预期。截至2季度末，公司全渠道库销比约4个月，库龄结构保持健康。尽管管理层目前仍维持全年收入及利润率指引，但亦承认2季度表现弱于预期，并将根据终端销售情况动态评估后续经营目标。考虑到2季度流水弱于预期、7月趋势未见改善，我们下调2026-28年收入预测2%-3%。","market":"hk","thumbnail":"https://static.szfiu.com/news/20250106/N2I4ZDVmMTM1NjM3MTU3MjA=.jpg","type":0,"news_type":0,"thumbnails":["https://static.szfiu.com/news/20250106/N2I4ZDVmMTM1NjM3MTU3MjA=.jpg"],"rights":null,"property":["rate"],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"1986116","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"-1","news_top_title":null,"news_tag":"dataReport","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["KCE","02331"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2652013475","title":"體育用品股盤初活躍 李寧(02331)漲2.93% 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