China's Li Ning H1 revenue, profit rise amid demand strength

Li Ning

20/08/2026 14:23

Overview
China sportswear maker's H1 revenue rose 2.8% yr/yr to RMB 15.2 bln
Net profit attributable to equity holders grew 4.5% yr/yr to RMB 1.82 bln
Company declared interim dividend of RMB 35.12 cents per share

Outlook
Li Ning plans to open its first Loong Store flagship store in H2 2026
 
Company expects to use RMB151.2 mln of unspent placing proceeds for supply-chain infrastructure by Dec. 31, 2026

Result Drivers
RETAIL SELL-THROUGH - Co said overall retail sell-through increased by low-single-digit from last yr, including online and offline channels
GROSS MARGIN - Gross profit margin increased by 0.9 percentage points to 50.9%

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 15.24 bln
 
H1 Net Income Attributable
 
RMB 1.82 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 27 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the apparel & accessories peer group is "buy"
Wall Street's median 12-month price target for Li Ning Co Ltd is HK$20.60, about 42.5% above its August 20 closing price of HK$14.46
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 14 three months ago

Reuters Recommended Reads
Aug 18 - China's 361 Degrees International interim revenue rises 8%
Aug 18 - Amer Sports Q2 revenue beats on segment growth
Aug 19 - Crystal International H1 revenue rises; raises dividend

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)