NEWS BRIEF: Li Ning’s first-half revenue rises, profit falls
Sportswear manufacturer and retailer Li Ning Co. Ltd. (2331.HK) reported its revenue rose 2.3% year-on-year to 14.35 billion yuan ($2 billion) in the first half of the year. Its profit fell nearly 8% to 1.95 billion yuan, while its gross margin rose by 1.6 percentage points to 50.4%.
The company’s Li-Ning sales points totaled 6,239 by the end of June, down by one from the start of the year. Its Li-Ning Young sales points totaled 1,438, up by 10 over the same period. The company’s overall platform experienced a low-single-digit decline in retail sell-through, including online and offline channels.
By Lau Chi Hang
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