The Chinese sporting goods giant Li Ning Company Limited closed the 2021 financial year with strong growth in sales and earnings. On Thursday, the parent company of the Li-Ning brand said sales reached 22.6 billion Chinese yuan ($3.7 billion), up 56.1 percent year-on-year.
Thanks to significantly improved margins at all levels, earnings increased disproportionately. Operating profit was 5.1 billion Chinese yuan, up 133.9 percent year-on-year. The surplus attributable to shareholders was also more than twice as high as in 2020: it grew by 136.1 percent to 4.0 billion Chinese yuan (570 million euros).
The group attributed the growth, among other things, to targeted reforms in its own retail trade and in logistics as well as the expansion of the online business. The management announced that it intends to continue its strategy under the motto “single brand, multi-categories, diversified channels” in the current year.