Changes in Hong Kong stocks | Taobo (06110) rose more than 9% in early trading, Nike's new product plan is expected to drive business reversal and the company's high dependence on Nike

The Zhitong Finance App learned that Taobo (06110) rose more than 9% in early trading. As of press release, it had risen 7.39% to HK$2.47, with a turnover of HK$106 million.

According to the news, Nike announced new product plans: launch a new and simplified road running shoe series product line (rebound cushioning Pegasus series, super cushioning Vomero series, support cushioning structure series); release new Nike Vomero 18 products leading super cushioning; release new basic models Nike Swift and Stride; and release a new women's shoe model Air Max Muse. This release is the first new product line since the new CEO took office. The product idea is clear, consolidates Nike's advantages, focuses on professional running, and accurately meets the needs of runners.

Guotai Junan pointed out that Nike has launched a new road running shoe product line to help consumers with various needs select suitable products, and expects Nike to make subsequent improvements on the product and channel side under the leadership of the new CEO Hill. Nike's subsequent reversal of operations is expected to benefit related industry chains. Bank of China International said earlier that Taobo's potential transformation may take several months because it faces the industry's general decline in offline passenger traffic and the company's unique high dependence on Nike.