Li Ningkai'S Precedent Will Stop Trading Orders, Or Will Further Crack Down On Investor Confidence.

According to reports, following the publication of the worst performance of the year and the year-round profit police, Lining (2331) yesterday set a precedent and decided not to publish the important reference data for the quarterly order.

Jin Zhenjun, executive vice president, explained that in order to carry out strategic pformation,

Since the third quarter, the order has been reduced, so the order data will no longer be referenced.

Some analysts believe that Lining's move to significantly reduce the pparency of the company, is bound to increase market doubts, investors to the company's valuation must decline.

Lining's chief financial officer, Zhong Yi Qi, announced yesterday at the performance meeting that he would no longer publish the quarterly order data. This is because "since the first quarter of 2013, we have adopted a more flexible way to manage the process of product listing.

The results will not predict the actual operation and sales of the future.

"Active order reduction" for clearing stock.

Jin Zhenjun, executive vice president of TPG who joined Lining in April this year, explained that the most important thing for Lining is not order but how to make the whole inventory and channel healthier.

Jin Zhenjun pointed out that China's sporting goods industry has been doing well in the past, but in fact it does not come from the growth of the terminal, but rather from the

The growth has been achieved.

"Lining is the first to recognize this problem in the whole industry, so we need to make strategic pformation and take the initiative to reduce orders."

As for when Lining can recover, Jin Zhenjun said it depends on inventory cleanup.

"Inventory has been accumulated over the past 2 or 3 years, and it can be cleaned up in a few months. At the end of the year, we will consider whether the intensity of the cargo is enough."

Transparency is reduced to valuations.

As of yesterday, the six major sports stocks have all announced interim results, and their performance and strategy are very clear. Lining, the Guan Guan faction, represents a temporary profit.

Lining's share price fell 3.8% to 4.26 yuan yesterday.

As for Lining's refusal to send orders, Ying Zongjie, a senior analyst at Paget's consumer industry, points out that sports stocks generally adopt franchisee mode, so ordering data is much more important than the same store sales.

Lining's move will undoubtedly increase the difficulty for investors to analyze the company, and the valuation given by investors to Lining will also be reduced accordingly.

"During the pition period, the data will not look good. It may not be good in the second half of next year, but investors certainly hope that the company will become more pparent and better."

Chinese Fund: short term recovery of domestic demand industry

A Chinese fund manager also said that he did not agree with Lining's management's ceasing to announce the results of the order. He thought it would be more effective to crack down on investors' confidence because of choking off the food.

"If the order is not published, it will be more opaque and less concerned."

He pointed out that the domestic demand shares rose earlier, and the market arbitrage behavior of undervalued stocks was actually scrambled for the whole industry to recover in the short term.