LI NING released its annual performance report, with a gross profit of 14.156 billion yuan, an increase of 6.02% year-on-year
LI NING released its annual performance for the year ending December 31, 2024, with revenue of RMB 28.676 billion, a year-on-year increase of 3.9%; gross profit of RMB 14.156 billion, a year-on-year increase of 6.02%; profit attributable to shareholders of RMB 3.013 billion, basic earnings per share of 116.98 cents, and a proposed final dividend of 20.73 cents per share. E-commerce business revenue grew by 10.3%, distribution revenue increased by 2.6%, and retail revenue slightly decreased by 0.3%. In the future, the company will continue to optimize channel structure, enhance customer experience, and explore new growth points
According to the Zhitong Finance APP, Li Ning (02331) announced its annual results for the year ending December 31, 2024, with revenue of RMB 28.676 billion, an increase of 3.9% year-on-year; gross profit of RMB 14.156 billion, an increase of 6.02% year-on-year; profit attributable to shareholders of RMB 3.013 billion; basic earnings per share of 116.98 cents; and a proposed final dividend of 20.73 cents per share.
The announcement stated that this year, benefiting from the in-depth development of online channels, the realization of scale effects, and the optimization of cost control, the e-commerce business revenue grew by 10.3%; the company strengthened cooperation with distributors, optimized product supply, provided a more competitive product mix, and improved synergy efficiency with distributors, achieving a 2.6% year-on-year increase in distributor revenue; affected by the overall consumption environment and intensified market competition, the company made adjustments to the retail channel, resulting in a slight year-on-year decrease of 0.3% in retail revenue; through the optimization of discount strategies, the company improved the profitability of retail stores. In the future, the company will continue to optimize channel structure, enhance customer experience, and explore new growth points to promote stable business development.
For the fourth quarter ending December 31, 2024, Li Ning's sales points (excluding Li Ning YOUNG) achieved high single-digit growth in retail sales across the entire platform year-on-year. In terms of channels, offline channels (including retail and wholesale) achieved mid-single-digit growth, with the retail (direct operation) channel experiencing low single-digit decline and the wholesale (franchise distributors) channel achieving mid-single-digit growth; the e-commerce virtual store business achieved mid-range growth of 10%-20%.
As of December 31, 2024, in China, the number of Li Ning YOUNG sales points totaled 1,468, a net increase of 9 from the end of the previous quarter, with a net increase of 40 so far this year
