China Sportswear: Anta & Li Ning’s Likely Share Gains on Nike’s Distribution Strategy Pivot in China

Research evidence excerpt

China Sportswear: Anta & Li Ning’s Likely Share Gains on Nike’s Distribution Strategy Pivot in China

online version available on the Firm's proprietary electronic distribution platforms.

Where included in this report, MSCI sourced information is the exclusive property of Morgan Stanley Capital International Inc.

(MSCI). Without prior written permission of MSCI, this information and any other MSCI intellectual property may not be

reproduced, redisseminated or used to create any financial products, including any indices. This information is provided on an

"as is" basis. The user assumes the entire risk of any use made of this information. MSCI, its affiliates and any third party

involved in, or related to, computing or compiling the information hereby expressly disclaim all warranties of originality,

accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of this information. Without

limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in, or related to, computing

or compiling the information have any liability for any damages of any kind. MSCI, Morgan Stanley Capital International and

the MSCI indexes are services marks of MSCI and its affiliates. Where data is attributed to Morningstar that data is © 2026

Morningstar, Inc. All Rights Reserved. That information: (1) is proprietary to Morningstar and/or its content providers; (2) may

not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content

providers are responsible for any damages or losses arising from any use of this information.

The Firm accepts no liability whatsoever for the actions of third parties. The Product may provide the addresses of, or contain