HK-listed Li Ning rises after strong H1 results

Xtep International Holdings

13/08/2021 02:46

** Shares of China's home-grown sports wear group Li Ning Co
Ltd  2331.HK  rise 4.1% to HK$90, the highest since Aug. 5
    ** Beijing-based Li Ning says its H1 net profit jumped 187%
year-on-year to 1.96 bln yuan ($12.7 bln), with revenue surging
65% to 10.2 bln yuan and gross profit margin expanding 6.4
percentage points to 55.9%  urn:newsml:reuters.com:*:nFWN2PJ1DO
    ** "We also believe Chinese consumers will pay more
attention to health and fitness in the post-pandemic era. This
will help boost the demand for sports and health consumption and
may bring a new look to the sports industry," chairman Li Ning
said in the statement
    ** Bigger rival ANTA Sports  2020.HK  climbs as much as
1.8%, while smaller competitor Xtep International  1368.HK 
rises 5.5% 
    ** The Hang Seng consumer goods and services index  .HSCGSI 
gains 0.2%, while the Hang Seng Composite Index  .HSCI  slips
0.6%
    ** The Hang Seng China Enterprises Index  .HSCE  eases 1%
and the benchmark index  .HSI  slides 0.9%
    ** As of last close, the stock had soared 62.2% this year 


($1 = 0.1544 Chinese yuan renminbi)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))