Guosen Securities released a research report saying that maintaining Li Ning's "buy" rating, it is expected that the net profit in 2021-23 will be 36.4/43.7/562 million yuan, an increase of 162.2%/21%/28.7%, corresponding to a PE score of 50.5x/42.1x/32.7x, maintaining a reasonable valuation range of HK$104.4-107.3 (corresponding to 23 years PE37x-38x). (Sina Finance)
![The Long-distance Race of Sustainable Business: The "Acceleration" of Li-Ning's ESG[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)