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<tr><td colspan="6"><h1 class="header">Company Rating : LI NING</h1>
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<select class="traffic-input" id="stockType" name="stockType" onChange="submitForm();return false">

<option value="" selected>All</option>


<option value="HSI">HSI constituent stocks</option>


  <option value="8001">Conglomerates</option>

  <option value="6011">Property (Mainland)</option>

  <option value="6015">Property (HK & Macau)</option>

  <option value="800010">Conglomerates</option>

  <option value="010101">Conglomerates</option>

  <option value="4001">Electricity Supply</option>

  <option value="400010">Conventional Electricity</option>

  <option value="120101">Electric Utilities</option>

  <option value="4002">Gas Supply</option>

  <option value="400020">Gas Distribution</option>

  <option value="120102">Gas Utilities</option>

  <option value="601020">Property Development</option>

  <option value="090201">Property Conglomerate</option>

  <option value="5011">Banks</option>

  <option value="501010">Banks</option>

  <option value="040101">Diversified Banks</option>

  <option value="0011">Petroleum</option>

  <option value="5041">Securities</option>

  <option value="001010">Oil & Gas Producers</option>

  <option value="232020">Consumer Electronics</option>

  <option value="020401">Consumer Electronics</option>

  <option value="3501">Telecomm. Services</option>

  <option value="350020">Telecommunication Services</option>

  <option value="110101">Telecommunication Services</option>

  <option value="6014">Property Investment</option>

  <option value="3032">Entertainment</option>

  <option value="090204">Property Development</option>

  <option value="2081">Biotechnology</option>

  <option value="281010">Pharmaceuticals</option>

  <option value="050201">Biotechnology - Pharmaceuticals</option>

  <option value="601030">Property Investment</option>

  <option value="090202">Property Investments</option>

  <option value="3033">Media</option>

  <option value="235040">Publishing</option>

  <option value="100203">Publishing</option>

  <option value="7021">Software & IT</option>

  <option value="7023">Software</option>

  <option value="702030">Application Software</option>

  <option value="070203">Application Software</option>

  <option value="3021">Hotels</option>

  <option value="234040">Hotels & Resorts</option>

  <option value="100401">Hotels, Resorts & Cruise Lines</option>

  <option value="6021">Construction</option>

  <option value="3025">Gamble</option>

  <option value="234030">Casinos & Gaming</option>

  <option value="100405">Casinos & Gaming</option>

  <option value="5032">Other Financial</option>

  <option value="2046">Food Additives & Flavouring</option>

  <option value="251050">Food Additives</option>

  <option value="100308">Beauty & Toiletries Products Retail</option>

  <option value="7012">Aerospace</option>

  <option value="1002">Industrial Goods</option>

  <option value="101060">Aerospace & Defence</option>

  <option value="060101">Electrical Components & Equipment</option>

  <option value="3043">Road and Railway</option>

  <option value="3052">Other Support</option>

  <option value="236010">Education</option>

  <option value="100104">Education Services</option>

  <option value="2022">Household Goods</option>

  <option value="2091">International Trade</option>

  <option value="503010">Securities & Brokerage</option>

  <option value="232030">Toys & Leisure Products</option>

  <option value="020502">Toys</option>

  <option value="3012">Apparels</option>

  <option value="1001">Machinery</option>

  <option value="101040">Heavy Industrial Machinery</option>

  <option value="060202">Construction & Farm Machinery & Heavy Trucks</option>

  <option value="3014">Department Stores</option>

  <option value="2041">Alcoholic & tobacco</option>

  <option value="0532">Chemical</option>

  <option value="253010">Supermarkets & Convenience Stores</option>

  <option value="020203">Packaged Foods</option>

  <option value="7011">IT Hardware</option>

  <option value="2071">Consumer Electronics</option>

  <option value="1007">Electrical Equipment</option>

  <option value="101020">Industrial Components & Equipment</option>

  <option value="060201">Heavy Electrical Equipment</option>

  <option value="702010">System Applications & IT Consulting</option>

  <option value="702025">Internet Services and Infrastructure</option>

  <option value="070202">IT Consulting & Other Services</option>

  <option value="3022">Restaurants</option>

  <option value="2061">Agricultural</option>

  <option value="2033">Other Textiles</option>

  <option value="3015">Jewellery</option>

  <option value="2011">Automobiles Components</option>

  <option value="231020">Auto Parts</option>

  <option value="020102">Auto Parts & Equipment</option>

  <option value="237050">Other Retailers</option>

  <option value="702020">E-Commerce & Internet Services</option>

  <option value="503050">Payment Services</option>

  <option value="070302">Computer Hardware</option>

  <option value="3024">Diversified Tourism</option>

  <option value="234060">Restaurant</option>

  <option value="100402">Restaurants</option>

  <option value="5031">Investments</option>

  <option value="503020">Investment & Asset Management</option>

  <option value="1004">Printing</option>

  <option value="103020">Printing & Packaging</option>

  <option value="100102">Commercial Printing</option>

  <option value="060203">Industrial Machinery</option>

  <option value="6022">Construction Materials</option>

  <option value="602010">Construction Materials</option>

  <option value="080201">Construction Materials</option>

  <option value="2043">Food Processing</option>

  <option value="251010">Packaged Foods</option>

  <option value="0021">Coal</option>

  <option value="0522">Metals (Nonferrous)</option>

  <option value="0511">Mining</option>

  <option value="002010">Coal</option>

  <option value="030101">Coal Mining</option>

  <option value="3044">Public Transport</option>

  <option value="234010">Transportation</option>

  <option value="100509">Trucking</option>

  <option value="601050">Property Service & Management</option>

  <option value="040202">Investment Banking & Brokerage</option>

  <option value="100504">Railway Infrastructure</option>

  <option value="503030">Financing</option>

  <option value="236020">Other Support Services</option>

  <option value="040204">Investment Companies</option>

  <option value="7022">E-Commerce</option>

  <option value="702040">Game Software</option>

  <option value="070204">Gaming Software</option>

  <option value="233040">Jewellery & Timepieces</option>

  <option value="100307">Watch & Jewellery Retail</option>

  <option value="1003">Electronic Components</option>

  <option value="7031">Semiconductors</option>

  <option value="703010">Semiconductors</option>

  <option value="070101">Semiconductors & Semiconductor Equipment</option>

  <option value="503040">Other Financials</option>

  <option value="040201">Consumer Finance & Money Lending</option>

  <option value="282010">Medical Devices & Supplies</option>

  <option value="7041">Technology Conglomerates</option>

  <option value="702015">Digital Solution Services</option>

  <option value="400040">Alternative/Renewable Energy</option>

  <option value="120105">Environmental Utilities</option>

  <option value="0012">Petroleum Equipment</option>

  <option value="0534">Forestry</option>

  <option value="053020">Forestry & Timber</option>

  <option value="080501">Forest Product</option>

  <option value="060108">Cigarette Products</option>

  <option value="602020">Building Construction</option>

  <option value="090102">Building Construction</option>

  <option value="100304">Department Stores</option>

  <option value="052030">Aluminium</option>

  <option value="080401">Aluminum</option>

  <option value="101025">Electronic Components</option>

  <option value="070304">Electronic Equipment & Instruments</option>

  <option value="0521">Metals (Steel)</option>

  <option value="052010">Iron & Steel</option>

  <option value="101010">Commercial Vehicles & Trucks</option>

  <option value="020103">Tires & Rubber</option>

  <option value="6031">Infrastructure</option>

  <option value="102020">Railway & Tollroad Operation</option>

  <option value="100503">Highway Infrastructure</option>

  <option value="6012">Property Management</option>

  <option value="090203">Property Service and Management</option>

  <option value="3502">Telecomm. Equipment</option>

  <option value="701010">Telecommunication Equipment</option>

  <option value="070306">Smartphone</option>

  <option value="040203">Investment Holdings & Assets Management</option>

  <option value="233050">Other Accessories</option>

  <option value="100301">Apparel, Accessories & Luxury Goods Retail</option>

  <option value="2023">Toys</option>

  <option value="020604">Watch & Jewellery</option>

  <option value="233020">Apparel</option>

  <option value="020601">Apparels & Accessories</option>

  <option value="2051">Health Care</option>

  <option value="020303">Optical Products</option>

  <option value="237020">Apparel Retailers</option>

  <option value="0536">Environmental Material</option>

  <option value="235030">Movies & Entertainment</option>

  <option value="100202">Movies & Entertainment</option>

  <option value="3045">Marine</option>

  <option value="102010">Shipping & Port Operation</option>

  <option value="100506">Marine</option>

  <option value="3019">Automobile</option>

  <option value="237010">Automotive Retailers</option>

  <option value="100302">Automotive Retail</option>

  <option value="100507">Marine Ports & Services</option>

  <option value="100103">Environmental & Facilities Services</option>

  <option value="2031">Textile & Apparels</option>

  <option value="233010">Textiles & Fabrics</option>

  <option value="020404">Home Furnishings</option>

  <option value="701020">Computers & Peripherals</option>

  <option value="060102">Printed Circuit Boards</option>

  <option value="020702">Agricultural Products</option>

  <option value="2044">Diversified Food</option>

  <option value="3047">Logistic Services</option>

  <option value="1005">Environmental Goods</option>

  <option value="101030">Environmental Engineering</option>

  <option value="3016">Beauty</option>

  <option value="253020">Personal Care</option>

  <option value="020305">Beauty & Toiletries Products and Services</option>

  <option value="080402">Diversified Metals & Minerals</option>

  <option value="237040">Diversified Retailers</option>

  <option value="3023">Tourism</option>

  <option value="0537">Basic Materials</option>

  <option value="2053">Medical Equipment</option>

  <option value="235010">Advertising & Marketing</option>

  <option value="100201">Advertising</option>

  <option value="052040">Other Metals & Minerals</option>

  <option value="251040">Alcohols</option>

  <option value="020204">Beverages (Alcoholic)</option>

  <option value="050102">Health Care Services</option>

  <option value="231010">Automobiles</option>

  <option value="020101">Automobile Manufacturers</option>

  <option value="0013">Alternative Energy</option>

  <option value="053040">Specialty Chemicals</option>

  <option value="080101">Diversified Chemicals</option>

  <option value="001020">Oil & Gas Equipment & Services</option>

  <option value="030202">Oil & Gas Equipment & Services</option>

  <option value="4003">Water Supply</option>

  <option value="252020">Agricultural Products</option>

  <option value="9999">ETFs</option>

  <option value="130104">Money Market</option>

  <option value="3031">Advertising</option>

  <option value="2032">Footwears</option>

  <option value="233030">Footwear</option>

  <option value="020602">Footwear</option>

  <option value="3011">Retailers & Trade</option>

  <option value="030102">Coal Trading</option>

  <option value="040205">Other Diversified Financial Services</option>

  <option value="251030">Non-alcoholic Beverages</option>

  <option value="020205">Beverages (Non-alcoholic)</option>

  <option value="502010">Insurance</option>

  <option value="040302">Multi-line Insurance</option>

  <option value="020301">Household Products</option>

  <option value="100105">Commercial & Professional Services</option>

  <option value="030203">Oil & Gas Exploration & Production</option>

  <option value="2021">Household Appliances</option>

  <option value="232010">Home Appliances</option>

  <option value="020402">Household Appliances</option>

  <option value="234050">Travel & Tourism</option>

  <option value="2052">Medicine</option>

  <option value="050202">Pharmaceuticals</option>

  <option value="602030">Heavy Construction & Engineering</option>

  <option value="090101">Construction & Engineering</option>

  <option value="281040">Medicine Distribution</option>

  <option value="703020">Semiconductor Equipment & Materials</option>

  <option value="080301">Metal & Glass & Plastic Packaging</option>

  <option value="060105">Liquid Crystal Displays</option>

  <option value="020606">Leather Products</option>

  <option value="400030">Water</option>

  <option value="120103">Water Utilities</option>

  <option value="0512">Precious Metals</option>

  <option value="051010">Gold & Precious Metals</option>

  <option value="080601">Gold & Precious Metals</option>

  <option value="282020">Medical & Aesthetic Services</option>

  <option value="252010">Poultry & Meat</option>

  <option value="020701">Poultry, Meat and Seafood</option>

  <option value="3041">Airline Services</option>

  <option value="234020">Airlines</option>

  <option value="100501">Airlines</option>

  <option value="020603">Textiles</option>

  <option value="0533">Fertilisers</option>

  <option value="053010">Fertilisers & Agricultural Chemicals</option>

  <option value="080102">Fertilizers & Agricultural Chemicals</option>

  <option value="070301">Telecommunications & Networking Equipment</option>

  <option value="100404">Diversified Tourism, Hotels & Restaurants</option>

  <option value="3046">Shipbuilding</option>

  <option value="060204">Shipbuilding</option>

  <option value="080403">Iron & Steel</option>

  <option value="030204">Oil & Gas Refining and Marketing</option>

  <option value="020207">Food Additives</option>

  <option value="2042">Beverage (Non-alco)</option>

  <option value="030201">Integrated Oil & Gas</option>

  <option value="281030">Chinese Medicines</option>

  <option value="050103">Health Care Supplies</option>

  <option value="235020">Broadcasting</option>

  <option value="232040">Household Goods</option>

  <option value="601010">Real Estate Agencies</option>

  <option value="030205">Oil & Gas Storage & Transportation</option>

  <option value="3042">Airline Supports</option>

  <option value="100502">Airport Services</option>

  <option value="052020">Copper</option>

  <option value="3026">Leisure & Recreation</option>

  <option value="3018">Sports & Leisure</option>

  <option value="020605">Sportswear</option>

  <option value="5021">Insurance</option>

  <option value="103010">Sourcing & Supply Chain Service</option>

  <option value="100508">Air Freight & Logistics</option>

  <option value="080302">Paper Packaging</option>

  <option value="6013">Reit</option>

  <option value="601040">Real Estate Investment Trusts</option>

  <option value="130202">Office and Commercial REIT's</option>

  <option value="130201">Diversified REIT's</option>

  <option value="070205">Systems Software</option>

  <option value="101050">New Energy Materials</option>

  <option value="060107">Solar Products</option>

  <option value="0535">Papermaking</option>

  <option value="2045">Dairy Products</option>

  <option value="020302">Personal Products</option>

  <option value="350010">Satellite & Wireless Communication</option>

  <option value="237030">Home Improvement Retailers</option>

  <option value="100306">Household Appliances Retail</option>

  <option value="102030">Air Freight & Logistics</option>

  <option value="130101">Equity</option>

  <option value="3034">TV & Broadcasting</option>

  <option value="100204">TV & Broadcasting</option>

  <option value="070307">IT Products Distributors</option>

  <option value="070201">e-Commerce & Internet Services</option>

  <option value="3035">Multi-Media</option>

  <option value="060106">Environmental Goods</option>

  <option value="020403">Housewares & Specialties</option>

  <option value="050101">Health Care Equipment</option>

  <option value="030103">Coking Coal Mining</option>

  <option value="040301">Life & Health Insurance</option>

  <option value="100305">Hypermarkets, Supermarkets & Convenience Stores</option>

  <option value="281020">Biotechnology</option>

  <option value="053030">Paper</option>

  <option value="080502">Paper Products</option>

  <option value="237060">Online Retailers</option>

  <option value="101070">Energy Storage Units</option>

  <option value="060103">Battery Products</option>

  <option value="130301">Other Unit Trusts/Mutual Funds</option>

  <option value="060104">Glass Products</option>

  <option value="3051">Funeral</option>

  <option value="100101">Funeral Services</option>

  <option value="100505">Infrastructure Conglomerates</option>

  <option value="110102">Satellite Telecommunications</option>

  <option value="070303">Computer Storage & Peripherals</option>

  <option value="020501">Leisure Products</option>

  <option value="235050">Interactive Media & Services</option>

  <option value="070305">Electronic Components</option>

  <option value="050204">Biotechnology - Supplies & Services</option>

  <option value="100403">Tourism</option>

  <option value="020405">Lighting Products</option>

  <option value="234070">Leisure & Recreational Facilities</option>

  <option value="251020">Dairy Products</option>

  <option value="020206">Dairy Products</option>

  <option value="040303">Property & Casualty Insurance</option>

  <option value="130102">Fixed Income</option>

  <option value="252030">Animal Feeds</option>

  <option value="020703">Animal Feeds</option>

  <option value="100106">Security & Alarm Services</option>

  <option value="102040">Road Transportation</option>

  <option value="050203">Biotechnology - Medical Devices</option>

  <option value="130103">Commodity</option>

  <option value="130106">Virtual Asset</option>

  <option value="070401">Next-generation information technology</option>

  <option value="020304">Children's and Infant Products</option>

  <option value="251045">Tobacco</option>

  <option value="060205">Industrial Conglomerates</option>

  <option value="400050">Nuclear Energy</option>

  <option value="070402">Advanced hardware and software</option>

  <option value="130105">Multi-asset</option>

</select>

</td></tr>
<tr><td>&nbsp;</td></tr>
<tr><td colspan="7" align="center">

<table cellpadding="1" cellspacing="0" border="0" width="100%" class="tblouterm_8">
<tr style="background-color:#CCCCCC">
<td class="minihead" nowrap="nowrap" align='center'>Name</td>
<td class="minihead" nowrap="nowrap" align='center'>Updated</td>
<td class="minihead" nowrap="nowrap" align='center'>Value</td>
<td class="minihead" nowrap="nowrap" align='center'>Open</td>
<td class="minihead" nowrap="nowrap" align='center'>High</td>
<td class="minihead" nowrap="nowrap" align='center'>Low</td>
<td class="minihead" nowrap="nowrap" align='center'>Change</td>
</tr>
<tr style="">
<td class="minitext fixed1" nowrap="nowrap">LI NING</td>
<td class="minitext" nowrap="nowrap" align='center'>2024-05-08 11:03</td>
<td class="minitext" nowrap="nowrap" align='center'>21.35</td>
<td class="minitext" nowrap="nowrap" align='center'>21.6</td>
<td class="minitext" nowrap="nowrap" align='center'>21.7</td>
<td class="minitext" nowrap="nowrap" align='center'>20.7</td>
<td class="minitext" nowrap="nowrap" align='center'>21.35</td>
</tr>
</table>

</td></tr>
<tr><td colspan="7">
<table cellpadding="3" cellspacing="0" border="0" width="100%">
<tr class="tablemenu_3"><td>Date</td><td>Broker Name</td><td>Company name</td><td colspan="3" align="center">Rating</td><td colspan="3" align="center">Target Price</td><td>Other Info</td></tr>
<tr><td style="font-size:1px">&nbsp;</td></tr>


<tr style=""><td width="40" style="font-size:12px">03-19</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E6%91%A9%E6%A0%B9%E5%A3%AB%E4%B8%B9%E5%88%A9">&nbsp;Morgan Stanley&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px"></td><td width="10" style="font-size:12px">&#x2192;</td><td width="80" style="font-size:12px">Mkt Perform</td><td width="50" align="right" style="font-size:12px">23.3</td><td width="10" style="font-size:12px"><font color='green'>&#x2191;</font></td><td width="50" style="font-size:12px">28</td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
<!--a class="imglink" href="stock_news.html?code=02331">&nbsp;News&nbsp;</a-->
<!--a class="imglink" href="stock_chart_multi.html?stock_id=02331">&nbsp;Chart&nbsp;</a-->
<a class="imglink" href="market_grade.html?grader=%E6%91%A9%E6%A0%B9%E5%A3%AB%E4%B8%B9%E5%88%A9&code=02331">&nbsp;Hist.&nbsp;</a>

<!--a class="imglink" href="company_performance_detail.html?code=02331">&nbsp;Performance&nbsp;</a-->
</td></tr>


<tr style="background-color:#EEEEEE;"><td width="40" style="font-size:12px">02-01</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E9%87%8E%E6%9D%91">&nbsp;Nomura&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px"></td><td width="10" style="font-size:12px"></td><td width="80" style="font-size:12px"></td><td width="50" align="right" style="font-size:12px">31</td><td width="10" style="font-size:12px"><font color='green'>&#x2191;</font></td><td width="50" style="font-size:12px">37</td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
<!--a class="imglink" href="stock_news.html?code=02331">&nbsp;News&nbsp;</a-->
<!--a class="imglink" href="stock_chart_multi.html?stock_id=02331">&nbsp;Chart&nbsp;</a-->
<a class="imglink" href="market_grade.html?grader=%E9%87%8E%E6%9D%91&code=02331">&nbsp;Hist.&nbsp;</a>

<!--a class="imglink" href="company_performance_detail.html?code=02331">&nbsp;Performance&nbsp;</a-->
</td></tr>


<tr style=""><td width="40" style="font-size:12px">01-29</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E9%BA%A6%E6%A0%BC%E7%90%86">&nbsp;Macquarie&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px"></td><td width="10" style="font-size:12px">&#x2192;</td><td width="80" style="font-size:12px">Underperform</td><td width="50" align="right" style="font-size:12px">16.8</td><td width="10" style="font-size:12px"><font color='green'>&#x2191;</font></td><td width="50" style="font-size:12px">20</td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
<!--a class="imglink" href="stock_news.html?code=02331">&nbsp;News&nbsp;</a-->
<!--a class="imglink" href="stock_chart_multi.html?stock_id=02331">&nbsp;Chart&nbsp;</a-->
<a class="imglink" href="market_grade.html?grader=%E9%BA%A6%E6%A0%BC%E7%90%86&code=02331">&nbsp;Hist.&nbsp;</a>

<!--a class="imglink" href="company_performance_detail.html?code=02331">&nbsp;Performance&nbsp;</a-->
</td></tr>


<tr style="background-color:#EEEEEE;"><td width="40" style="font-size:12px">01-19</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E9%87%91%E5%88%A9%E4%B8%B0">&nbsp;Kingston Securities&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px"></td><td width="10" style="font-size:12px"></td><td width="80" style="font-size:12px"></td><td width="50" align="right" style="font-size:12px"><font style="color:#EEEEEE;">29.5</font></td><td width="10" style="font-size:12px">&#x2192;</td><td width="50" style="font-size:12px">29.5</td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
<!--a class="imglink" href="stock_news.html?code=02331">&nbsp;News&nbsp;</a-->
<!--a class="imglink" href="stock_chart_multi.html?stock_id=02331">&nbsp;Chart&nbsp;</a-->
<a class="imglink" href="market_grade.html?grader=%E9%87%91%E5%88%A9%E4%B8%B0&code=02331">&nbsp;Hist.&nbsp;</a>

<!--a class="imglink" href="company_performance_detail.html?code=02331">&nbsp;Performance&nbsp;</a-->
</td></tr>


<tr style=""><td width="40" style="font-size:12px">01-13</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E9%87%8C%E6%98%82">&nbsp;CLSA&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px">Underperform</td><td width="10" style="font-size:12px"><font color='red'>&#x2193;</font></td><td width="80" style="font-size:12px">Sell</td><td width="50" align="right" style="font-size:12px"><font style="color:#FFFFFF;">24.06</font></td><td width="10" style="font-size:12px">&#x2192;</td><td width="50" style="font-size:12px">24.06</td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
<!--a class="imglink" href="stock_news.html?code=02331">&nbsp;News&nbsp;</a-->
<!--a class="imglink" href="stock_chart_multi.html?stock_id=02331">&nbsp;Chart&nbsp;</a-->
<a class="imglink" href="market_grade.html?grader=%E9%87%8C%E6%98%82&code=02331">&nbsp;Hist.&nbsp;</a>

<!--a class="imglink" href="company_performance_detail.html?code=02331">&nbsp;Performance&nbsp;</a-->
</td></tr>


<tr style="background-color:#EEEEEE;"><td width="40" style="font-size:12px">12-23</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E7%BE%8E%E6%9E%97">&nbsp;Merrill Lynch&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px">Neutral</td><td width="10" style="font-size:12px"><font color='green'>&#x2191;</font></td><td width="80" style="font-size:12px">Buy</td><td width="50" align="right" style="font-size:12px"><font style="color:#EEEEEE;">33</font></td><td width="10" style="font-size:12px">&#x2192;</td><td width="50" style="font-size:12px">33</td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
<!--a class="imglink" href="stock_news.html?code=02331">&nbsp;News&nbsp;</a-->
<!--a class="imglink" href="stock_chart_multi.html?stock_id=02331">&nbsp;Chart&nbsp;</a-->
<a class="imglink" href="market_grade.html?grader=%E7%BE%8E%E6%9E%97&code=02331">&nbsp;Hist.&nbsp;</a>

<!--a class="imglink" href="company_performance_detail.html?code=02331">&nbsp;Performance&nbsp;</a-->
</td></tr>


<tr style=""><td width="40" style="font-size:12px">11-30</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E8%8A%B1%E6%97%97">&nbsp;Citibank&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px">Sell</td><td width="10" style="font-size:12px"><font color='green'>&#x2191;</font></td><td width="80" style="font-size:12px">Buy</td><td width="50" align="right" style="font-size:12px"><font style="color:#FFFFFF;">29.6</font></td><td width="10" style="font-size:12px">&#x2192;</td><td width="50" style="font-size:12px">29.6</td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
<!--a class="imglink" href="stock_news.html?code=02331">&nbsp;News&nbsp;</a-->
<!--a class="imglink" href="stock_chart_multi.html?stock_id=02331">&nbsp;Chart&nbsp;</a-->
<a class="imglink" href="market_grade.html?grader=%E8%8A%B1%E6%97%97&code=02331">&nbsp;Hist.&nbsp;</a>

<!--a class="imglink" href="company_performance_detail.html?code=02331">&nbsp;Performance&nbsp;</a-->
</td></tr>


<tr style="background-color:#EEEEEE;"><td width="40" style="font-size:12px">11-09</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E7%91%9E%E5%A3%AB%E4%BF%A1%E8%B4%B7">&nbsp;Credit Suisse&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px"></td><td width="10" style="font-size:12px">&#x2192;</td><td width="80" style="font-size:12px">Outperform</td><td width="50" align="right" style="font-size:12px"><font style="color:#EEEEEE;"></font></td><td width="10" style="font-size:12px"></td><td width="50" style="font-size:12px"></td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
<!--a class="imglink" href="stock_news.html?code=02331">&nbsp;News&nbsp;</a-->
<!--a class="imglink" href="stock_chart_multi.html?stock_id=02331">&nbsp;Chart&nbsp;</a-->
<a class="imglink" href="market_grade.html?grader=%E7%91%9E%E5%A3%AB%E4%BF%A1%E8%B4%B7&code=02331">&nbsp;Hist.&nbsp;</a>

<!--a class="imglink" href="company_performance_detail.html?code=02331">&nbsp;Performance&nbsp;</a-->
</td></tr>


<tr style=""><td width="40" style="font-size:12px">10-23</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E4%B8%AD%E9%93%B6%E5%9B%BD%E9%99%85">&nbsp;BOCI&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px"></td><td width="10" style="font-size:12px">&#x2192;</td><td width="80" style="font-size:12px">Buy</td><td width="50" align="right" style="font-size:12px"><font style="color:#FFFFFF;"></font></td><td width="10" style="font-size:12px"></td><td width="50" style="font-size:12px"></td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
<!--a class="imglink" href="stock_news.html?code=02331">&nbsp;News&nbsp;</a-->
<!--a class="imglink" href="stock_chart_multi.html?stock_id=02331">&nbsp;Chart&nbsp;</a-->
<a class="imglink" href="market_grade.html?grader=%E4%B8%AD%E9%93%B6%E5%9B%BD%E9%99%85&code=02331">&nbsp;Hist.&nbsp;</a>

<!--a class="imglink" href="company_performance_detail.html?code=02331">&nbsp;Performance&nbsp;</a-->
</td></tr>


<tr style="background-color:#EEEEEE;"><td width="40" style="font-size:12px">10-13</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E7%91%9E%E9%93%B6">&nbsp;UBS&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px"></td><td width="10" style="font-size:12px">&#x2192;</td><td width="80" style="font-size:12px">Buy</td><td width="50" align="right" style="font-size:12px"><font style="color:#EEEEEE;">31</font></td><td width="10" style="font-size:12px">&#x2192;</td><td width="50" style="font-size:12px">31</td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
<!--a class="imglink" href="stock_news.html?code=02331">&nbsp;News&nbsp;</a-->
<!--a class="imglink" href="stock_chart_multi.html?stock_id=02331">&nbsp;Chart&nbsp;</a-->
<a class="imglink" href="market_grade.html?grader=%E7%91%9E%E9%93%B6&code=02331">&nbsp;Hist.&nbsp;</a>

<!--a class="imglink" href="company_performance_detail.html?code=02331">&nbsp;Performance&nbsp;</a-->
</td></tr>


<tr style=""><td width="40" style="font-size:12px">09-18</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E9%87%8E%E6%9D%91">&nbsp;Nomura&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px"></td><td width="10" style="font-size:12px">&#x2192;</td><td width="80" style="font-size:12px">Buy</td><td width="50" align="right" style="font-size:12px">22</td><td width="10" style="font-size:12px"><font color='green'>&#x2191;</font></td><td width="50" style="font-size:12px">31</td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
<!--a class="imglink" href="stock_news.html?code=02331">&nbsp;News&nbsp;</a-->
<!--a class="imglink" href="stock_chart_multi.html?stock_id=02331">&nbsp;Chart&nbsp;</a-->
<a class="imglink" href="market_grade.html?grader=%E9%87%8E%E6%9D%91&code=02331">&nbsp;Hist.&nbsp;</a>

<!--a class="imglink" href="company_performance_detail.html?code=02331">&nbsp;Performance&nbsp;</a-->
</td></tr>


<tr style="background-color:#EEEEEE;"><td width="40" style="font-size:12px">09-11</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E6%8B%9B%E8%AF%81">&nbsp;China Merchants Securites&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px"></td><td width="10" style="font-size:12px">&#x2192;</td><td width="80" style="font-size:12px">Neutral</td><td width="50" align="right" style="font-size:12px"><font style="color:#EEEEEE;">24.5</font></td><td width="10" style="font-size:12px">&#x2192;</td><td width="50" style="font-size:12px">24.5</td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
<!--a class="imglink" href="stock_news.html?code=02331">&nbsp;News&nbsp;</a-->
<!--a class="imglink" href="stock_chart_multi.html?stock_id=02331">&nbsp;Chart&nbsp;</a-->
<a class="imglink" href="market_grade.html?grader=%E6%8B%9B%E8%AF%81&code=02331">&nbsp;Hist.&nbsp;</a>

<!--a class="imglink" href="company_performance_detail.html?code=02331">&nbsp;Performance&nbsp;</a-->
</td></tr>


<tr style=""><td width="40" style="font-size:12px">09-10</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E7%BE%8E%E6%9E%97">&nbsp;Merrill Lynch&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px"></td><td width="10" style="font-size:12px">&#x2192;</td><td width="80" style="font-size:12px">Neutral</td><td width="50" align="right" style="font-size:12px">18.14</td><td width="10" style="font-size:12px"><font color='green'>&#x2191;</font></td><td width="50" style="font-size:12px">21.6</td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
<!--a class="imglink" href="stock_news.html?code=02331">&nbsp;News&nbsp;</a-->
<!--a class="imglink" href="stock_chart_multi.html?stock_id=02331">&nbsp;Chart&nbsp;</a-->
<a class="imglink" href="market_grade.html?grader=%E7%BE%8E%E6%9E%97&code=02331">&nbsp;Hist.&nbsp;</a>

<!--a class="imglink" href="company_performance_detail.html?code=02331">&nbsp;Performance&nbsp;</a-->
</td></tr>


<tr style="background-color:#EEEEEE;"><td width="40" style="font-size:12px">09-10</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E6%91%A9%E6%A0%B9%E5%A4%A7%E9%80%9A">&nbsp;JPMorgan Chase&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px"></td><td width="10" style="font-size:12px">&#x2192;</td><td width="80" style="font-size:12px">Neutral</td><td width="50" align="right" style="font-size:12px">18.5</td><td width="10" style="font-size:12px"><font color='green'>&#x2191;</font></td><td width="50" style="font-size:12px">23.5</td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
<!--a class="imglink" href="stock_news.html?code=02331">&nbsp;News&nbsp;</a-->
<!--a class="imglink" href="stock_chart_multi.html?stock_id=02331">&nbsp;Chart&nbsp;</a-->
<a class="imglink" href="market_grade.html?grader=%E6%91%A9%E6%A0%B9%E5%A4%A7%E9%80%9A&code=02331">&nbsp;Hist.&nbsp;</a>

<!--a class="imglink" href="company_performance_detail.html?code=02331">&nbsp;Performance&nbsp;</a-->
</td></tr>


<tr style=""><td width="40" style="font-size:12px">09-10</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E7%94%B3%E4%B8%87">&nbsp;SWS&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px"></td><td width="10" style="font-size:12px">&#x2192;</td><td width="80" style="font-size:12px">Overweight</td><td width="50" align="right" style="font-size:12px"><font style="color:#FFFFFF;">23</font></td><td width="10" style="font-size:12px">&#x2192;</td><td width="50" style="font-size:12px">23</td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
<!--a class="imglink" href="stock_news.html?code=02331">&nbsp;News&nbsp;</a-->
<!--a class="imglink" href="stock_chart_multi.html?stock_id=02331">&nbsp;Chart&nbsp;</a-->
<a class="imglink" href="market_grade.html?grader=%E7%94%B3%E4%B8%87&code=02331">&nbsp;Hist.&nbsp;</a>

<!--a class="imglink" href="company_performance_detail.html?code=02331">&nbsp;Performance&nbsp;</a-->
</td></tr>


<tr style="background-color:#EEEEEE;"><td width="40" style="font-size:12px">09-10</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E5%BE%B7%E6%84%8F%E5%BF%97%E9%93%B6%E8%A1%8C">&nbsp;Deutsche Bank&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px"></td><td width="10" style="font-size:12px">&#x2192;</td><td width="80" style="font-size:12px">Sell</td><td width="50" align="right" style="font-size:12px">19.58</td><td width="10" style="font-size:12px"><font color='green'>&#x2191;</font></td><td width="50" style="font-size:12px">20.23</td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
<!--a class="imglink" href="stock_news.html?code=02331">&nbsp;News&nbsp;</a-->
<!--a class="imglink" href="stock_chart_multi.html?stock_id=02331">&nbsp;Chart&nbsp;</a-->
<a class="imglink" href="market_grade.html?grader=%E5%BE%B7%E6%84%8F%E5%BF%97%E9%93%B6%E8%A1%8C&code=02331">&nbsp;Hist.&nbsp;</a>

<!--a class="imglink" href="company_performance_detail.html?code=02331">&nbsp;Performance&nbsp;</a-->
</td></tr>


<tr style=""><td width="40" style="font-size:12px">08-28</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E6%91%A9%E6%A0%B9%E5%A4%A7%E9%80%9A">&nbsp;JPMorgan Chase&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px"></td><td width="10" style="font-size:12px">&#x2192;</td><td width="80" style="font-size:12px">Neutral</td><td width="50" align="right" style="font-size:12px">18.5</td><td width="10" style="font-size:12px"><font color='green'>&#x2191;</font></td><td width="50" style="font-size:12px">23.5</td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
<!--a class="imglink" href="stock_news.html?code=02331">&nbsp;News&nbsp;</a-->
<!--a class="imglink" href="stock_chart_multi.html?stock_id=02331">&nbsp;Chart&nbsp;</a-->
<a class="imglink" href="market_grade.html?grader=%E6%91%A9%E6%A0%B9%E5%A4%A7%E9%80%9A&code=02331">&nbsp;Hist.&nbsp;</a>

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<tr style="background-color:#EEEEEE;"><td width="40" style="font-size:12px">08-27</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E5%B7%A5%E9%93%B6%E5%9B%BD%E9%99%85">&nbsp;icbci&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px"></td><td width="10" style="font-size:12px">&#x2192;</td><td width="80" style="font-size:12px">Buy</td><td width="50" align="right" style="font-size:12px"><font style="color:#EEEEEE;">26.20</font></td><td width="10" style="font-size:12px">&#x2192;</td><td width="50" style="font-size:12px">26.20</td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
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<a class="imglink" href="market_grade.html?grader=%E5%B7%A5%E9%93%B6%E5%9B%BD%E9%99%85&code=02331">&nbsp;Hist.&nbsp;</a>

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<tr style=""><td width="40" style="font-size:12px">07-16</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E9%AB%98%E7%9B%9B">&nbsp;Goldman Sachs&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px"></td><td width="10" style="font-size:12px">&#x2192;</td><td width="80" style="font-size:12px">Sell</td><td width="50" align="right" style="font-size:12px"><font style="color:#FFFFFF;">16.9</font></td><td width="10" style="font-size:12px">&#x2192;</td><td width="50" style="font-size:12px">16.9</td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
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<a class="imglink" href="market_grade.html?grader=%E9%AB%98%E7%9B%9B&code=02331">&nbsp;Hist.&nbsp;</a>

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<tr style="background-color:#EEEEEE;"><td width="40" style="font-size:12px">07-14</td><td width="100" style="font-size:12px"><a class="imglink" href="market_grade.html?grader=%E9%87%8E%E6%9D%91">&nbsp;Nomura&nbsp;</a></td><td style="font-size:12px"><a class="imglink" href="market_grade.html?code=02331">&nbsp;LI NING&nbsp;</a></td><td width="80" align="right" style="font-size:12px"></td><td width="10" style="font-size:12px">&#x2192;</td><td width="80" style="font-size:12px">Buy</td><td width="50" align="right" style="font-size:12px"><font style="color:#EEEEEE;">22</font></td><td width="10" style="font-size:12px">&#x2192;</td><td width="50" style="font-size:12px">22</td><td width="120" style="font-size:12px">
<a class="imglink" href="sl.html?id=02331">&nbsp;Data&nbsp;</a>
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<a class="imglink" href="market_grade.html?grader=%E9%87%8E%E6%9D%91&code=02331">&nbsp;Hist.&nbsp;</a>

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