2331—56

Li Ning Co Ltd

Apparel & AccessoriesVerified

Score breakdown

Profitability+35Sentiment+15Risk penalty-3Missing signals-3

Quality breakdown

Key fields100Profile38Conclusion82AI synthesis40Observations23

Li Ning Co Ltd (2331.HK) is currently classified as Apparel & Accessories within Apparel & Accessories (Consumer Cyclicals). Classification confidence: 0.92 (verified market data). Capital structure on the latest snapshot: total assets 37,714,067,000 CNY, total equity 27,627,499,000, short-term debt 0, long-term debt 2,055,154,000. Net cash position is approximately -614,119,000 CNY. Profitability profile: revenue 29,598,417,000, gross profit 14,488,837,000, operating income 3,898,208,000, net income 2,935,743,000. Return on equity ~10.6%. Return on assets ~7.8%. Operating-cash-flow to net-income ratio is 1.65. Risk profile from automated assessment: liquidity risk medium, dilution risk low. Flags: Net cash is negative after subtracting total debt..

30-day price · 2331-1.98 (-9.2%)

Low$19.11High$23.20Close$19.46As of7 May, 00:00 UTC

Profile

CompanyLi Ning Co Ltd

Ticker2331.HK

SectorConsumer Cyclicals

BusinessCyclical Consumer Products

Industry groupCyclical Consumer Products

IndustryApparel & Accessories

AI analysis

Business. Li Ning Co Ltd is classified under Consumer Cyclicals / Apparel & Accessories and appears profitable on the latest normalized snapshot.

Classification. Classification confidence is 0.92 based on verified market data; matched terms: Apparel & Accessories, Cyclical Consumer Products, Consumer Cyclicals.

Key takeaways

Return on equity is about 10.6%.
Debt to equity is about 0.07x.
Analyst estimate: Mean price target = 25.29 CNY
Analyst estimate: Median price target = 24.30 CNY

Financial snapshot

PeriodHA-latest

CurrencyCNY

Revenue$29.60B

Gross profit$14.49B

Operating income$3.90B

Net income$2.94B

R&D—

SG&A—

D&A—

SBC—

Operating cash flow$4.85B

CapEx-$1.29B

Free cash flow$1.52B

Total assets$37.71B

Total liabilities$10.09B

Total equity$27.63B

Cash & equivalents$1.44B

Long-term debt$2.06B

Annual history (last 5)

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Quarterly history (last 4)

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Valuation

Market price—

Market cap—

Enterprise value—

P/E—

Reported non-GAAP P/E—

EV/Revenue—

EV/Op income—

EV/OCF—

P/B—

P/Tangible book—

Tangible book$27.63B

Net cash-$614.1M

Current ratio2.9

Debt/Equity0.1

ROA7.8%

ROE10.6%

Cash conversion1.6%

CapEx/Revenue-4.3%

SBC/Revenue—

Asset intensity—

Dilution ratio0.0%

Risk assessment

Dilution riskLow

Liquidity riskMedium

Net cash is negative after subtracting total debt.

Industry benchmarks

Activity: Apparel & Accessories · cohort 2 companies

Metric2331Activity

Op margin13.2%6.6% medp25 4.6% · p75 8.7%top quartile

Net margin9.9%3.7% medp25 2.0% · p75 5.5%top quartile

Gross margin49.0%57.5% medp25 57.5% · p75 57.5%bottom quartile

CapEx / revenue-4.3%1.1% medp25 0.9% · p75 1.4%bottom quartile

Debt / equity7.0%124.3% medp25 86.1% · p75 162.6%bottom quartile

Observations

IR observations

Mean price target25.29 CNY

Median price target24.30 CNY

High price target48.00 CNY

Low price target18.00 CNY

Mean recommendation1.94 (1=strong buy, 5=strong sell)

Strong-buy count12.00

Buy count14.00

Hold count7.00

Sell count0.00

Strong-sell count1.00

Mean EPS estimate1.19 CNY

Last actual EPS1.14 CNY

Source data

Underlying data the analysis-pipeline pulls and audits. Fetch timestamps + content hashes show when each source was last refreshed.

Company fundamentalsperiod FQ-7 · history via verified-market-data

no public URL

2026-05-06 16:20 UTC#783b3d88

Source: analysis-pipeline (hybrid)Generated: 2026-05-06 16:29 UTCJob: 55f62e26