摩根士丹利发表研究报告指，李宁(02331.HK) 上半年销售额按年增长3%，经营溢利增长2%，纯利增长5%。若扣除非现金费用，现金盈利按年下跌9%。毛利率上升0.8个百分点至50.9%；非广告销售及行政开支比率跌1.2个百分点，广告及促销费用比率则升了2.2个百分点。大摩下调李宁2026至28年盈测13%至14%，反映销售趋势转弱及推广开支增加。该行预计今年销售增长1%，下半年销售大致持平；...
Source Link摩根士丹利发表研究报告指，李宁(02331.HK) 上半年销售额按年增长3%，经营溢利增长2%，纯利增长5%。若扣除非现金费用，现金盈利按年下跌9%。毛利率上升0.8个百分点至50.9%；非广告销售及行政开支比率跌1.2个百分点，广告及促销费用比率则升了2.2个百分点。大摩下调李宁2026至28年盈测13%至14%，反映销售趋势转弱及推广开支增加。该行预计今年销售增长1%，下半年销售大致持平；...
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