Group 1 - The core viewpoint of the article highlights the growth in the badminton segment of the company, driven by a nationwide enthusiasm for the sport [1] - The company’s executive director and co-CEO, Qian Wei, reported that the sales of badminton rackets and strings are experiencing high growth, with professional-grade high-end rackets achieving a monthly sales volume of 100,000 units [1] - Currently, the badminton business accounts for approximately 7% of the company's overall revenue [1]

EF001 EF001 發行人所發行上市權證/可轉換債券的相關信息 發行人所發行上市權證/可轉換債券 不適用 其他信息 其他信息 不適用 發行人董事 於本公告日期，本公司的執行董事為李寧先生、高坂武史先生和李麒麟先生；本公司的獨立非執行董事為顧福身先生、王亞非女 士、陳振彬博士和王雅娟女士。 免責聲明 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 李寧有限公司 | | 股份代號 | 02331 | | 多櫃檯股份代號及貨幣 | 82331 RMB | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2025年6月30日止六個月的中期股息(更新) | | 公告日期 | 2025年8月22日 | | 公告狀態 | 更新公告 | | 更新/撤回理由 | 更新暫停過戶期限 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因依賴該等內容而引致的任何損失承擔任何責任。 LI NING COMPANY LIMITED 李 寧 有 限 公 司 （於開曼群島註冊成立之有限公司） 股份代號：2331（港幣櫃台）及 82331（人民幣櫃台） 有關2025年中期業績公告的澄清公告 年中期業績公告的澄清公告 茲提述李寧有限公司（「本公司」）日期為2025年8月21日的截至2025年6月30日止六個月 的中期業績公告（「2025年中期業績公告」）。除另有界定外，本公告所用詞彙與2025年 中期業績公告所界定者具有相同涵義。 於截至2024年12月31日止年度之末期股息（每股已發行或於可換股證券轉換後將予 發行的本公司普通股20.73分人民幣）獲宣派並已於2025年6月12日之本公司股東週 年大會上獲得股東批准及隨後於2025年6月支付。 暫停辦理股份及可換股證券過戶登記 為釐定符合資格收取中期股息之本公司股東及可換股證券持有人士，本公司將暫停 辦理股份及可換股證券過戶登記手續，詳情載 ...

责任编辑：郭栩彤 谈及近两年线下客流压力问题，李宁集团联席CEO钱炜表示，"线下客流我们的确碰到不小的一个挑 战，我们能够深刻的感受到线下客流的同比减少，这带来了一些生意流水上的压力和挑战，我们不断对 线下渠道进行结构优化，包括整体优质店铺的扩展、整改，低效店铺的闭店、关店和整改，这是我们一 直在持续推动的一个过程，未来我们也会持续推动这样的结构性调整，在优质店铺不断的扩面及整改同 时，针对低效业务进行关闭和调整。" 他还提到，"我们在新渠道的建设方面还有很多需要改善、提升和拓展的空间。未来，我们对既有渠道 在进行低效店铺关店、高效店铺扩面和不断调整的同时，也会针对不同的新渠道进行更多的尝试和拓 展，来获取更多与消费者接触的空间，以及为消费者能够带来更好的产品体验和购物体验。"（闫妍） 8月22日，李宁有限公司召开2025年中期业绩发布会。上半年，李宁公司实现收入达148.2亿元，同比上 升3.3%。上半年，李宁公司毛利为74.1亿元，同比上升2.5%，整体毛利率为50.0%，净利润为17.4亿 元，净利率为11.7%。 中期业绩发布会上，李宁公司透露，截至上半年李宁大货店铺平均面积242平方米，平均月店效3 ...

Core Insights - Li Ning Company reported a revenue of 14.82 billion yuan for the first half of 2025, representing a year-on-year increase of 3.3% [1] - The company's gross profit reached 7.41 billion yuan, up 2.5% year-on-year, with an overall gross margin of 50.0% [1] - Net profit for the period was 1.74 billion yuan, resulting in a net profit margin of 11.7% [1] Sales Performance - The total sales volume of Li Ning's professional running shoes exceeded 14 million pairs in the first half of the year [1] - The core running shoe matrix, including the "Ultra Light," "Red Rabbit," and "Flying Electric" series, demonstrated strong product competitiveness, with total sales of over 5.26 million pairs [1] - The "Red Rabbit 8 PRO" model became the champion in the competitive running shoe category on platforms like Tmall, achieving sales of 2.3 million pairs in the first half [1]

Financial Performance - Revenue increased by 3.3% year-over-year to RMB 14,817 million[14] - Net profit was RMB 1,737 million, with a net profit margin of 11.7%[14] - Net operating cash inflow decreased by 11.7% year-over-year to RMB 2,411 million[14] - Gross profit margin decreased by 0.4 percentage points year-over-year to 50.0%[14] - The Board declared an interim dividend of RMB 33.59 cents per ordinary share, with a payout ratio of 50%[14] Channel Performance - Overall channels retail sell-through increased by low-single-digit year-over-year[14] - Offline channel new product sell-through accounted for 84%[14, 21] - Wholesale revenue increased by 5% year-over-year[29] - Direct retail business revenue decreased by 4% year-over-year[34] - Online traffic increased by low-teens[111] Inventory and Working Capital - Channel inventory increased by low-single-digit year-over-year[14] - Company inventory cost amount increased by mid-single-digit year-over-year[103] - The percentage of gross average working capital to revenue was 7.3%[14]

个股方面，李宁发布2025年中期业绩。上半年公司继续贯彻"单品牌、多品类、多渠道"核心战略，稳健 经营，聚焦专业运动，进一步夯实经营基础，积极蓄力业务发展，实现收入达148.2亿元，同比上升 3.3%。上半年，李宁公司毛利为74.1亿元，同比上升2.5%，整体毛利率为50.0%，净利润为17.4亿元， 净利率为11.7%。同时，李宁公司保持现金流充沛，库存健康可控，为稳健发展打下重要基础。(格隆 汇) | 代码 | 名称 | 最新价 | 涨跌幅 ▽ | | --- | --- | --- | --- | | 02331 | 李 | 19.620 | 8.34% | | 02020 | 安踏体育 | 102.300 | 2.92% | | 03818 | 中国动向 | 0.520 | 1.96% | | 06110 | 溜搏 | 3.200 | 1.27% | | 00551 | 裕元集团 | 13.690 | 0.74% | | 01361 | 361度 | 6.120 | 0.66% | 港股体育用品股继续上上涨行情，其中，李宁绩后涨超8%领衔，且刷新阶段新高，安踏涨3%亦创阶段 新高价，中国动向涨2%，滔 ...

Core Insights - Li Ning Company reported a revenue of 14.82 billion yuan for the first half of 2025, representing a year-on-year increase of 3.3% [1] - The gross profit for the same period was 7.41 billion yuan, up 2.5%, with an overall gross margin of 50.0% [1] - Net profit reached 1.74 billion yuan, resulting in a net profit margin of 11.7% [1] Financial Performance - R&D investment increased by 8.7% year-on-year, with cumulative R&D spending exceeding 3.8 billion yuan over the past decade [1] - Professional product revenue accounted for over 60% of total revenue, with footwear products making up 56% of this segment [2] - Retail sales in the running category grew by 15%, with over 14 million pairs of professional running shoes sold across all channels [2] Market Strategy - The company is focusing on six core categories: running, basketball, cross-training, badminton, table tennis, and sports leisure, while also exploring new categories like outdoor sports, tennis, and pickleball [2] - Li Ning aims to enhance its product competitiveness and deepen collaboration with the Chinese Olympic Committee, focusing on quality improvement and solidifying its business foundation [3] - The company plans to maintain a "single brand, multiple categories, and multiple channels" strategy to drive sustainable growth [3] Operational Insights - As of June 30, 2025, the total number of Li Ning stores (including Li Ning brand and Li Ning YOUNG) reached 7,534 [3] - The company emphasizes a steady and pragmatic approach to business development, aiming for long-term health and sustainability [3]

Core Viewpoint - Li Ning Company Limited has shown a significant increase in stock price and continues to demonstrate strong financial performance, indicating a robust position in the sportswear industry [1][2]. Group 1: Company Overview - Li Ning is a professional sportswear brand with comprehensive capabilities in research, design, manufacturing, marketing, distribution, and retail operations [1]. - The company operates a leading multi-channel sales network and supply chain management system globally [1]. - In 2020, Li Ning's market capitalization exceeded 100 billion HKD, making it the first Chinese mainland sportswear company listed on the Hong Kong Stock Exchange [1]. Group 2: Financial Performance - As of the mid-year report in 2025, Li Ning reported total revenue of 14.817 billion CNY and a net profit of 1.737 billion CNY [2]. - The company announced a mid-year dividend of 0.3359 CNY per share (equivalent to 0.368 HKD), with the ex-dividend date set for August 25, 2025, and the payment date on September 5, 2025 [2].

公告称，期内集团各渠道收入变动情况如下：通过持续优化电商平台运营、深化线上营销布局，完善会 员服务体系，线上销售规模与客户黏性同步提升，电商渠道收入同比提升7.4%，贡献最大增量；特许 经销商收入增长稳健，同比增长4.4%，占比进一步提升至46.5%，持续发挥核心支柱作用；零售渠道表 现承压，直营店铺布局调整和消费场景转移，收入同比下降3.4%。公司将关注各渠道的不同增长机 会，致力于实现未来收入的可持续增长。 李宁(02331)绩后涨超5%，截至发稿，涨6.79%，报19.34港元，成交额2.47亿港元。 消息面上，李宁公布中期业绩，收入同比上升3.3%至148.17亿元，毛利约74.15亿元，同比增长2.48%； 息税前利润加折旧及摊销(EBITDA)约35.13亿元，同比增长2%；净利约17.37亿元，每股基本收益67.43 分，中期股息每股33.59分。 ...