Li Ning Released 2020 Performance Announcement, Up 4.2% Over The Same Period

On March 19, Li Ning released the 2020 performance announcement.

According to the announcement, in 2020, Li Ning realized an income of 14.457 billion yuan, an increase of 4.2% over the same period in 2019. The net share of equity holders of the company was 1.698 billion yuan, up 13.3% year on year.

Gross profit increased by 4.2% to 7.094 billion yuan compared with 6.805 billion yuan in 2019. The overall gross profit margin of the group was 49.1%, which was the same as that of the previous year (2019: 49.1%).

In terms of market, China's market accounted for 98.5%, while the international market accounted for only 1.5%, far lower than the 18.5% in 2019.

In terms of channels, the performance of e-commerce is eye-catching. In 2020, the revenue increased by 29.9% year-on-year, accounting for 28% of the total revenue.

As of December 31, 2020, in China, the number of Li Ning outlets (excluding Li Ning young) totaled 5912, with a net decrease of 537 so far this year.

There are a total of 1021 sales points in lining young, with a net decrease of 80 so far this year.

Li Ning said that in 2021, it will continue to implement the strategy of "single brand, multi category and multi-channel", focus on Li Ning's experience value, consolidate core business, and promote the continuous growth of the group's performance.