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Article Date: August 2019
Word Count: 306

Li Ning Explodes Higher in H1

Comprehensive net income nearly tripled to RMB 795,527,000 ($116.5 mm) from RMB 267,696,000 as revenues rose by a third to RMB 6,254,730,000 ($915.9 mm) from RMB 4,712,773,000. Same store sales improved mid-teens and e-commerce sales were up mid-30s. Gross margin expanded 100 b.p. to 49.7%, attributed to higher ASPs and less discounting, building on its increasing brand strength. Administrative expenses grew by 52% to RMB 450,913,000, increasing 90 b.p. as a percent of sales on higher spending on consultants and for incentive pay to improve its supply chain management. The increase also includes a RMB 36,394,000 goodwill impairment charge caused ... Log in to view full article.


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