Changes in Hong Kong stocks | Li Ning (02331) opened nearly 4%, and the company implemented a special dividend of 6 billion yuan to continue to promote professional sports and brand building

The Zhitong Finance App learned that Li Ning (02331) opened nearly 4% higher. As of press release, it rose 3.94% to HK$15.3, with a turnover of HK$404.8838 million.

According to the news, CICC's latest research report indicates that on November 5, Li Ning announced that the board of directors approved the declaration and payment of a special dividend of RMB 2.32 per share (corresponding to HK$2.71 per share), with a total corresponding dividend of approximately RMB 6 billion. The net removal date is November 18, and the payment date is December 1. The bank calculates the special dividend corresponding to the current share price dividend rate of about 18.4%. CICC believes that the company's regular dividend payout rate is about 50%. This special dividend is an incremental return, reflecting the company's capital allocation idea of allocating surplus cash to shareholders on the basis of safeguarding strategic investment and working capital requirements.

CICC added that Li Ning previously stated at the results meeting that he has more clearly predicted the capital requirements for brand resources and strategic layout over the next 12-24 months, and plans to balance long-term investment, financial soundness, and shareholder returns. In terms of products, the company continues to invest in sports technology, sports science research and core category iteration, while expanding market segments such as outdoor, women's and children's clothing. In terms of channels, Dragon stores and specialty stores have been launched one after another, and funds are still needed to support store opening, product allocation, and early operation. CICC believes that sales contributions need to be gradually released.