Core Viewpoint - Li Ning Company Limited reported steady revenue growth for the first half of 2025, with a focus on solidifying its operational foundation and business development strategies [2][4]. Financial Performance - The company's revenue reached 14.817 billion RMB, a 3.3% increase compared to 14.345 billion RMB in the same period of 2024 [2]. - Gross profit was 7.415 billion RMB, up 2.5% from 7.236 billion RMB year-on-year, with an overall gross margin of 50.0%, down 0.4 percentage points from 50.4% [2]. - Profit attributable to equity holders was 1.737 billion RMB, down from 1.952 billion RMB in the previous year, with a profit margin of 11.7% [2]. - Basic earnings per share were 0.6743 RMB, compared to 0.7580 RMB in the same period last year [2]. Cash Flow Management - The net cash generated from operating activities was 2.411 billion RMB, a decrease from 2.730 billion RMB in the previous year [3]. - As of June 30, 2025, cash and cash equivalents totaled 11.798 billion RMB, an increase of 4.299 billion RMB from December 31, 2024 [3]. - The total cash balance, including fixed deposits, was 19.190 billion RMB, reflecting a net increase of 1.050 billion RMB [3]. Operational Overview - The company continued to implement its "single brand, multi-category, multi-channel" strategy, focusing on product upgrades, brand marketing, and channel optimization [4]. - Li Ning signed a partnership with the Chinese Olympic Committee for the 2025-2028 period, enhancing its brand image as a supporter of professional sports [4]. - The company is focusing on six core categories: running, basketball, cross-training, badminton, table tennis, and sports leisure, while also exploring new segments like outdoor sports and tennis [4]. Channel Development - Li Ning is enhancing its multi-dimensional channel network, with a total of 7,534 sales points as of June 30, 2025, a net decrease of 51 from December 31, 2024 [5]. - The company is optimizing its retail operations and enhancing collaboration between headquarters and retail outlets to improve efficiency [5]. E-commerce and Supply Chain - The company is focusing on e-commerce growth through online-offline integration and targeted marketing strategies [6]. - Li Ning is optimizing its supply chain with a focus on quality control, delivery assurance, cost optimization, and sustainability [6]. Children's Wear Business - Li Ning YOUNG is making steady progress in product optimization, channel development, and brand marketing, with a total of 1,435 sales points as of June 30, 2025, a net decrease of 33 from December 31, 2024 [7]. Future Outlook - The company plans to continue executing its core strategy while enhancing product competitiveness and deepening its partnership with the Chinese Olympic Committee [8]. - Li Ning aims to improve business quality and efficiency through channel, product, and supply chain collaboration [9]. - The company will focus on talent development, financial governance, and digital empowerment to support its growth [9].

Core Viewpoint - Li Ning reported a steady revenue growth for the first half of 2025, with total revenue reaching 14.82 billion RMB, an increase of 3.3% compared to the same period in 2024 [1] Financial Performance - The net profit attributable to equity holders was 1.74 billion RMB, resulting in a net profit margin of 11.7% [1] - Research and development expenditure increased by 8.7% year-on-year [1] Product Performance - Total sales of running shoes exceeded 14 million pairs during the period [1] - The running and cross-training categories led the growth, with retail sales growth rates reaching 15% year-on-year [1]

Core Viewpoint - Li Ning Company Limited reported steady revenue growth in the first half of 2025, with a revenue of 14.817 billion RMB, an increase of 3.3% compared to the same period in 2024 [2] Financial Performance - The company's gross profit reached 7.415 billion RMB, up 2.5% year-on-year, with an overall gross margin of 50.0%, a decrease of 0.4 percentage points from the previous year [2] - Profit attributable to equity holders was 1.737 billion RMB, down from 1.952 billion RMB in the first half of 2024, resulting in a profit margin of 11.7% [2] - Basic earnings per share were 0.6743 RMB, compared to 0.7580 RMB in the same period last year [2] - The interim dividend declared was 0.3359 RMB per share, down from 0.3775 RMB in the previous year, with a payout ratio of 50% [2] Cash Flow Management - The net cash generated from operating activities was 2.411 billion RMB, a decrease from 2.730 billion RMB in the first half of 2024 [3] - As of June 30, 2025, cash and cash equivalents amounted to 11.798 billion RMB, an increase of 4.299 billion RMB from December 31, 2024 [3] - The total cash balance, including fixed deposits, was 19.190 billion RMB, reflecting a net increase of 1.050 billion RMB [3] Operational Overview - The company continued to implement its "single brand, multi-category, multi-channel" strategy, focusing on product upgrades, brand marketing, and channel optimization [4] - Li Ning became the official sportswear partner for the Chinese Olympic Committee and the Chinese sports delegation for the 2025-2028 period, enhancing its brand image [4] - The company focused on six core categories: running, basketball, cross-training, badminton, table tennis, and sports leisure, while also exploring new segments like outdoor sports and tennis [4] Channel Development - Li Ning actively built a multi-dimensional channel network, with a total of 7,534 sales points as of June 30, 2025, a net decrease of 51 from December 31, 2024 [5] - The company emphasized optimizing retail operations and enhancing consumer interaction to improve brand penetration and product efficiency [5] E-commerce and Supply Chain - The company maintained a steady operational strategy in e-commerce, leveraging online and offline synergies to drive growth [6] - Significant improvements were made in supply chain management, focusing on quality control, delivery assurance, and cost optimization [6] Children's Wear Business - Li Ning YOUNG made steady progress in product optimization, channel development, and brand marketing, with a total of 1,435 sales points as of June 30, 2025, a net decrease of 33 from December 31, 2024 [7] Future Outlook - The company plans to continue executing its core strategy while enhancing product competitiveness and focusing on high-growth potential markets [8] - Li Ning aims to deepen its collaboration with the Chinese Olympic Committee and enhance its professional sports image through targeted marketing activities [8] - The company will focus on improving business quality and efficiency across channels, products, and supply chains [9] - Key support areas include talent development, financial governance, and digital empowerment to ensure sustainable growth [9]

Core Viewpoint - Li Ning Company Limited reported steady revenue growth for the first half of 2025, with a focus on solidifying its operational foundation and business development [2][4]. Financial Performance - The company's revenue reached 14.817 billion RMB, a 3.3% increase compared to 14.345 billion RMB in the same period of 2024 [2]. - Gross profit was 7.415 billion RMB, up 2.5% from 7.236 billion RMB year-on-year, with an overall gross margin of 50.0%, down 0.4 percentage points from 50.4% [2]. - Profit attributable to equity holders was 1.737 billion RMB, down from 1.952 billion RMB in the previous year, with a profit margin of 11.7% [2]. - Basic earnings per share were 0.6743 RMB, compared to 0.7580 RMB in the same period last year [2]. - The interim dividend declared was 0.3359 RMB per share, down from 0.3775 RMB in the previous year, with a payout ratio of 50% [2]. Cash Flow Management - Net cash generated from operating activities was 2.411 billion RMB, a decrease from 2.730 billion RMB in the previous year [3]. - As of June 30, 2025, cash and cash equivalents totaled 11.798 billion RMB, an increase of 4.299 billion RMB from December 31, 2024 [3]. - The total cash balance, including fixed deposits, was 19.190 billion RMB, a net increase of 1.050 billion RMB from the end of 2024 [3]. Operational Overview - The company continued to implement its "single brand, multi-category, multi-channel" strategy, focusing on product upgrades, brand marketing, and channel optimization [4]. - Li Ning signed a partnership with the Chinese Olympic Committee for the 2025-2028 period, enhancing its brand image as a supporter of Chinese sports [4]. - The company is focusing on six core categories: running, basketball, cross-training, badminton, table tennis, and sports leisure, while also exploring new segments like outdoor sports and tennis [4]. Channel Development - The company is enhancing its multi-dimensional channel network, with a total of 7,534 sales points as of June 30, 2025, a net decrease of 51 from December 31, 2024 [5]. - Retail operations are being optimized through improved market models and consumer engagement activities [5]. - The company is also focusing on digital upgrades in its new retail business to enhance operational efficiency [5]. E-commerce and Supply Chain - The company is maintaining a steady operational strategy in e-commerce, leveraging online and offline synergies to drive growth [6]. - Supply chain optimization is a priority, focusing on quality control, delivery assurance, cost optimization, and sustainability [6]. - The logistics system is being enhanced to improve efficiency and reduce costs, with the launch of a national logistics network [6]. Children's Wear Business - Li Ning YOUNG is making steady progress in product optimization, channel development, and brand marketing, with a total of 1,435 sales points as of June 30, 2025, a net decrease of 33 from December 31, 2024 [7]. Future Outlook - The company plans to continue executing its core strategy while enhancing product competitiveness and deepening cooperation with the Chinese Olympic Committee [8]. - Focus areas include improving business quality and efficiency across channels, products, and supply chains [9]. - The company aims to strengthen its foundation for growth through talent development, financial governance, and digital empowerment [9].

Core Viewpoint - Li Ning Company Limited reported a 3.3% year-on-year increase in revenue for the first half of 2025, reaching 14.817 billion yuan, while maintaining a steady growth trajectory across various channels [1] Group 1: Financial Performance - Revenue increased by 3.3% year-on-year to 14.817 billion yuan, with gross profit approximately 7.415 billion yuan, reflecting a 2.48% year-on-year growth [1] - EBITDA was around 3.513 billion yuan, showing a 2% year-on-year increase, while net profit reached approximately 1.737 billion yuan, with basic earnings per share at 0.6743 yuan [1] - The interim dividend declared was 0.3359 yuan per share [1] Group 2: Revenue Channel Performance - Online sales grew by 7.4% year-on-year, driven by optimized e-commerce operations and enhanced customer engagement [1] - Revenue from authorized dealers increased by 4.4% year-on-year, contributing to 46.5% of total revenue, indicating its role as a core pillar [1] - Retail channel revenue faced challenges, declining by 3.4% year-on-year due to adjustments in direct store layouts and shifts in consumer scenarios [1] Group 3: Product and Brand Strategy - The company is committed to a "single brand, multiple categories, multiple channels" strategy, increasing R&D investment and technological innovation [2] - Collaborations with the China Olympic Committee and the Palace Museum aim to enhance brand recognition and integrate traditional cultural elements into sports products [2] - The focus is on consolidating competitive advantages in six core categories while innovating and expanding into niche markets for long-term growth [2] Group 4: Channel Optimization - The company is building a resilient and growth-oriented omnichannel matrix, enhancing online and offline collaboration [3] - Efforts include improving channel efficiency through governance and control, as well as exploring new retail business models [3] - Offline strategies focus on optimizing single-store performance and service quality, while expanding into emerging market channels [3]

2025年8月21日晚间，李宁（02331.HK）披露2025年中期业绩，整体保持稳健，符合预期。2025年上半 年，李宁收入达148.2亿元人民币，同比增长3.3%，毛利为74.1亿元人民币，同比增长2.5%。权益持有 人应占净溢利17.4亿元，净利率为11.7% 。截至2025年6月30日，李宁现金余额为191.9亿元人民币。 ...

2025年8月21日晚间，李宁（02331.HK）发布2025年中期业绩：2025年上半年，李宁收入达148.2亿元人 民币，同比上升3.3%，毛利为74.1亿元人民币，同比上升2.5%。权益持有人应占净溢利17.4亿元，权益 持有人应占溢利率为11.7% ，整体保持稳健，符合预期。 董事会决议宣派末期股息每股33.59分人民 币，中期派息率为50%。 本文源自：金融界AI电报 ...

(本文来自第一财经) 李宁在港交所公告，2025年上半年收入148.17亿元，同比增长3.3%；毛利率下降0.4个百分点至50％； 权益持有人应占净溢利为17.37亿元，净利率为11.7%。 ...

智通财经APP讯，李宁(02331)发布公告，将于2025年9月5日派发截至2025年6月30日止六个月的中期股 息每股0.3359元人民币。 该信息由智通财经网提供 ...

格隆汇8月21日｜李宁上半年营收148.2亿元，同比增加3.3%，预估145.7亿元；上半年毛利率50％，预 估49.7％；上半年净利润17.4亿元，同比下降11%，预估16.7亿元； 每股中期派息0.3359元。 ...