HK Stock Market Move | LI NING (02331) has surged over 3%. VIVA GOODS has increased its holding of LI NING by approximately 0.7% this year, totaling around HKD 275 million.

LI NING (02331) is now up more than 3%, as of the time of writing, up 2.53%, at HK$15.38, with a turnover of HK$1.63 billion. On the news front, VIVA GOODS announced that it had spent approximately HK$275 million to acquire 18.09 million shares of LI NING in the open market between January 10 and June 19 this year, accounting for about 0.7% of the equity. The average purchase price per share was approximately HK$15.2, and its stake in LI NING increased from about 10.53% to 11.23%. LI NING continues to be its affiliate company. Considering the market price and the rationality of LI NING's shares, the group believes that the acquisition is a suitable investment that can enhance returns. Shenwan Hongyuan Group previously released a research report stating that LI NING continues to focus on the sports track, with unique brand assets, strong product research and development capabilities, and the ability to create explosive products. Channel optimization improves efficiency, and the future development is promising. The brand recognition continues to increase among young consumer groups. Core products continue to lead business growth, and the expansion into new categories such as outdoor products is expected to contribute incremental growth.