In the first six months, Li Ning, the large Chinese marketer of sportswear and shoes, managed to reduce its net loss substantially to 29.4 million yuan renminbi (€4.1 million) compared with RMB 585.8 million (€82.0 million) in the previous year’s first half. Sales soared by 16 percent to RMB 3.6 billion (€507.6 million). Company founder […]
Li Ning, China’s leading domestic sporting goods brand, saw a sales increase of 16 percent to 6.72 billion yuan renminbi (€1,015 million) in 2014 over the previous year. During the second half of the financial year ended Dec. 31, turnover soared by 23 percent. Nevertheless, the company is struggling to become profitable again. It has seen three consecutive […]
China’s market leader in the sporting goods sector apparently continues to struggle with figures in the red. Li Ning said today that it expects a net loss of 820 million yuan renminbi (€111.8 million) for the last financial year ended Dec. 31. It was said that the loss derives basically from debt management, reduced sales […]
Jin-Goon Kim is no longer interim chief executive officer at Li Ning, China’s largest marketer of sports gear. Kim was at the top of the group’s operations for more than two years as executive vice chairman, along with Li Ning as executive chairman of the company he founded. The joint leadership was installed after the […]
During the first six months of the year, Chinese sporting goods brand Li Ning increased sales by 8.0 percent to 3,137 million yuan renminbi (€381.3 million) compared with the first half of 2013. As of June 30th, gross profits hit RMB 1.4 billion (€170.2 million) from RMB 1.27 billion (€154.4 million) last year. Losses before income […]
In its financial year 2013, Chinese sportswear maker Li Ning managed to narrow its net loss substantially. Its loss amounted to 392 million yuan renminbi (€45.9 million)—far less than the RMB 1.98 billion (€232 million) in the previous year. The markets, however, had expected a net loss of about only RMB 292 million (€34.2 million). […]
Yesterday, Greenpeace released its “Detox Catwalk”—a performance assessment of the progress made by major clothing companies on their commitments to toxic-free clothing. Greenpeace divided the companies into three categories: “leaders”, “greenwashers” and “laggards”. According to the environmental organization, Puma is the only sports brand to make it into the list of leaders thanks to its transparency and the implementation […]
Li Ning, China’s largest sporting goods company, has posted revenues of RMB2,906 million (€356.6 million) for the first half of 2013, which equates to a 24.6 percent drop in sales. This drop was the result of the company’s “Transformation Plan” to reduce sell-in inventories and the number of points of sale to enhance their profitability. […]
Li Ning Company reported its first annual operating and net loss since it went on the stock exchange in 2004, due especially to the competition and to restructuring costs. The company’s total revenues fell by 24.5 percent to 6,739 million yuan renmimbi (€839.4m) in 2012, with a particularly strong reduction in the sell-in during the […]
The Li Ning Company wants to raise up to HK$1.87 billion (€176.5 m- $241 m) through an open offer of convertible securities, to complete its wide-ranging restructuring moves and investments in the Li-Ning brand. The Chinese company’s shares were pummeled last Friday when it announced the offer, which allows existing shareholders to swap two existing […]