---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/42673742.md"
description: "This Issue's Dry Goods Share | 02331 Li NingThis issue's genuine dry goods share | Currently quoted at 15.03The market size continues to grow. In 2025, the total mainland sportswear and footwear market size is 432 billion yuan, a year-on-year increase of +7.2%, far exceeding the growth rate of traditional apparel.Guochao continues to replace international brands: Li Ning's market share is 12.8%, firmly holding second place, surpassing Adidas, and closely chasing Anta's 16.2%; Nike's market share continues to decline, the competitiveness of local brands is irreversible.Ample room for growth: Four major incremental segments - outdoor, professional basketball, high-end Guochao, and lower-tier markets - with room for improvement in per capita sports consumption.Multiple catalysts throughout 2026, ample stock price elasticityOlympic year dividend: Year-round Olympic sponsorship exposure, intensive international events in the second half of the year, expanding brand traffic;Stephen Curry season catalyst: In the new NBA season, Stephen Curry will wear Li Ning products across the board, accelerating basketball category sales in Q4;New store formats launch and continuous release of high-end new products, driving improvement in single-store sales and gross margin;Expectation of gradual consumption recovery: Mainland retail consumption warms up quarter by quarter, the sports sector is a pro-cyclical category, subsequent sales are expected to improve;Institutional target prices are generally 23–26 HKD, with the current stock price having nearly 50% upside to the target.$Hang Seng Index(00HSI.HK)$LI NING(02331.HK)"
datetime: "2026-07-15T03:15:53.000Z"
locales:
  - [en](https://longbridge.com/en/topics/42673742.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/42673742.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/42673742.md)
author: "[老梁論盤](https://longbridge.com/en/profiles/2072524397204889600.md)"
generator: "portal-rs"
---

# This Issue's Dry Goods Share | 02331 Li NingThis i…


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**