China's Li Ning rises most in near 5 months on higher dividend

Li Ning

28/03/2025 02:10

** Shares of China's home grown sportswear group Li Ning Co Ltd 2331.HK rise 6.7% to HK$18.24, on course for the biggest one-day gain since November 5, 2024

** Stock touches the highest since March 20; top pct gainer on Hang Seng Index .HSI, which slips 0.5%

** Li Ning said its 2024 net profit attributable fell 5.5% y/y at 3.01 bln yuan ($414.5 mln), while revenue rose 3.9% y.y at 28.68 bln yuan

** Co proposed a final dividend of 0.2073 yuan per share, vs 0.1854 yuan in a year ago period, bringing the annual dividend to 0.5848 yuan per share, or total dividend payout ratio of 50% as compared to 45% in 2023

** Citi, with "Buy" rating, says Li Ning's 2024 net profit is in-line with forecast

** Stock up 10.6% YTD

($1 = 7.2625 Chinese yuan renminbi)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))