Li Ning Company Limited Announces Audited Consolidated Earnings Results for the Year Ended 31 December 2017
March 21, 2018 at 06:05 pm
Share
Li Ning Company Limited announced audited consolidated earnings results for the year ended 31 December 2017. For the year, the company reported revenues of RMB 8,873,912,000 compared with RMB 8,015,293,000 for the same period a year ago. Operating profit was RMB 445,678,000 compared with RMB 385,805,000 for the same period a year ago. Profit before income tax was RMB 537,524,000 compared with RMB 287,946,000 for the same period a year ago. Profit for the period from continuing operations was RMB 515,155,000 or 21.47 cents per diluted share compared with RMB 255,511,000 or 11.53 cents per diluted share for the same period a year ago. Profit for the period attributable to equity holders of the company was RMB 515,155,000 or 21.47 cents per diluted share compared with RMB 643,254,000 or 29.03 cents per diluted share for the same period a year ago. Return on equity attributable to equity holder was at 11.4% against 17.9% reported last year. Net asset value per share was at 234.65 cents against 200.56 cents last year. EBITDA was RMB 889,271,000 against RMB 713,147,000 a year ago. The Group's net cash from operating activities for the year ended 31 December 2017 amounted to RMB 1,159,143,000 against RMB 995,476,000, including RMB 835,987,000 from continuing operations and RMB 159,489,000 from discontinued operations a year ago. Net capital expenditure was RMB 423,997,000.
Li Ning Company Limited is specialized in designing, manufacturing and marketing clothing, shoes and sports equipment. The group offers products under its own brand (LI-NING) and licensed brands (Double Happiness, AIGLE, Danskin, Kason and Lotto). Net sales are divided by activity as follows:
- clothing (52.4%): T-shirts, polo shirts, sweatshirts, shorts, tracksuits, sports jerseys etc.;
- shoes (42.1%): basketball shoes, badminton shoes, running shoes, walking shoes etc.;
- equipment and accessories (5.5%): in particular, caps, socks and badminton rackets.
Products are marketed primarily by franchised distributors (48.1% of net sales), via Internet (28.4%) and through direct sales (17.8%).
At the end of 2021, Li Ning Company Limited had 7,137 stores (of which 4,770 franchised) located in China.
98.7% of net sales are generated in China.