Dahua Jixian: Maintains "Hold" Rating on LI NING (02331) Management expects moderate revenue growth for full year last year.

Dahua Jixian released a research report stating that for the whole of last year, LI NING (02331) management is confident in surpassing previous guidance, with revenue expected to achieve moderate growth and net profit margin is expected to reach the upper limit of high single-digit percentage guidance. Dahua Jixian believes that this is driven by better-than-expected government subsidies, company's strengthened cost control, as well as cost savings from closing some loss-making stores during the period, and maintains a "hold" rating on LI NING.