Topic
Li Ning is a Chinese sportswear company founded by Li Ning, who is the company’s chairman and is known in China as the “Prince of Gymnastics” for winning six medals at the 1984 Summer Olympics. Li-Ning’s popularity surged in 2018 after it became the first Chinese sportswear maker to participate in New York Fashion Week, and as younger consumers warmed to the brand's patriotic designs. Besides its core brand, Li Ning also makes and sells products under the Double Happiness (table tennis), AIGLE (outdoor) and Kason (badminton) brands.
- Hong Kong-listed firms have been involved in US$4 billion worth of take-private deals already in 2024, compared with US$1.2 billion for all of last year
- The growing buy-out trend is a potential headache for the Hong Kong bourse, which had been struggling to attract new listings as the market has languished
The billionaire entrepreneur and Olympic champion is considering taking his namesake sportswear company private from the Hong Kong stock exchange, four people said, adding to a string of such potential deals in a faltering market.
The company could sell about 100 million shares in a range of US$16 to US$18 each, and the terms of the IPO may be announced in the coming few days, sources say
The biggest drags on the MSCI benchmark since the end of September 2023 include Alibaba, Yum China and BYD, which have all been offering big discounts.
China’s biggest sportswear maker Li Ning’s purchase of a US$282 million mixed office and retail building to house its headquarters in Hong Kong, is a shot in the arm for the city’s slowing office property market.
Company will focus on offline store performance after net profit in the first half of 2023 fell 3 per cent year on year to US$293 million despite a 13 per cent revenue increase.
Looking ahead, ‘a huge market vitality has been unleashed, which is conducive to promoting sports consumption’, founder says.
Tsim Sha Tsui’s Canton Road has been showing signs of recovery, with Chinese and western brands choosing the district for flagship stores or the expansion of their current foot print despite the continued absence of tourists.
Hong Kong-listed Chinese sportswear brand Li Ning wants to improve customers’ shopping experience by selling coffee at its mainland stores, and has applied to register the “Ning Coffee” trademark.
Xtep plans to expand in China’s lower-tier cities to entice budget consumers with low-priced running shoes, as consumers become more health conscious.
The company reported an almost 1.4 times jump in net profit to 4.01 billion yuan (US$630.63 million) for the year ended 31 December, 2021.
The ban on Li Ning is the latest dust-up between the US and China, as the worst bilateral relations in decades spilled over into punitive actions on companies conducting business between the two economies.
The Chinese sportswear giant’s supply chain is accused of having North Korean ties, a violation of US sanctions.
Chinese companies are seeking to capitalise on Eileen Gu’s freestyle skiing exploits at the Winter Olympics. As many as 346 million people have taken to the slopes and skating rinks, surpassing President Xi’s target.
The Winter Olympics has catapulted dozens of Chinese brands into the limelight, giving them unprecedented airtime to showcase their stuff on the world stage.
China’s biggest sportswear maker to issue 120 million new shares at HK$87.50 each in a top-up stock issue to major shareholder Viva China.
The third-quarter review broadens Hang Seng’s coverage to 60 from the current 58. The index is the world’s third-biggest decliner this year having fallen 9.5 per cent so far.
The company will seize new opportunities to expand and ‘develop its brand from a Chinese brand to an internationally recognised top-class global, fashionable and professional sports brand’, former Olympian Li Ning says.
Domestic brands in China like Li-Ning and Anta have enjoyed recent surge, fuelled by rising nationalism, improvements in quality and a multimillion dollar live commerce sector.
Chinese consumers emptied inventories of Hongxing Erke after its donations in cash and goods to Henan flood victims, while crashing the firm’s online delivery systems.
New Li-Ning kit for Tokyo Games was revealed earlier in June before outcry from public forced U-turn; Chinese foreign ministry asks India to ‘avoid politicising the issue’.
Li Ning saw its sales on Tmall jump 419 per cent during the Labour Day holiday period, as Chinese consumers boycott Western brands that have raised concerns over the alleged use of forced labour.
The top sneaker resale market in China turned to domestic brands Li-Ning and Anta after international footwear companies expressed concern over allegations of forced labour in Xinjiang.
Chinese sportswear brand Li Ning said on Friday its net profit rose by 13.3 per cent to 1.7 billion yuan (US$261.3 million) last year
Hong Kong apparel manufacturers can either remain as local icons or build partnerships in mainland China as a springboard to global markets, says Bosco Law, who is working with Li Ning to restructure the ailing Bossini group.
Li Ning’s first-half profit decreased 14 per cent to 683.3 million yuan (US$98 million), beating consensus estimates of a 28 per cent decline
The Hong Kong clothing chain’s stock has skyrocketed after a joint venture controlled by Viva China, a sports talent agency founded by Li, said it would buy a 66.6 per cent stake
A joint venture controlled by Li Ning’s Viva China will buy a 66.6 per cent stake in Bossini, an iconic Hong Kong fashion brand, at a massive 71 per cent discount to Thursday’s closing share price
Li Ning has gone through a turnaround in the past few years, as it slashed cost and trimmed its overflowing product line to compete with its much larger rivals.
Li Ning’s share price shot up after the announcement that Kosaka Takeshi had joined from the Japanese clothing retailer
