** Shares of Li Ning 2331.HK slip 3.6% to HK$14.46, their lowest since April 9, and on course for second session of decline
** Stock set for the biggest one-day drop since April 7
** The China's homegrown sportswear group said retail sell-through for the overall platform increased by low-single-digit in Q1 2025, of which offline channel posted a low-single-digit increase, the e-commerce virtual stores business registered a low-teens growth
** Nomura keeps "Neutral" rating but trims TP to HK$16.20 from HK$17.40, saying 1Q25 sales in line but with weakening signals in April
** "We expect the company to see more headwinds on both sales and profitability in 2Q-3Q25F amid macroeconomic uncertainties and intensified competition in the sportswear sector" - Nomura
** Citi, with "Buy", says Li Ning's retail sales growth was in line and the firm has not observed the impact of “trade war” on the demand for China sportswear industry or consumers' preference between Chinese and international brands so far
** Hang Seng Consumption Index .HSCGSI and Hang Seng Index .HSI both slip 0.1%
** Stock down 11.8% YTD
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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