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Li-Ning forecasts 2020 profit increase with Chinese coronavirus lockdown nearing end

Chinese sportswear company Li-Ning revealed revenue in 2019 had grown double the pace of 2018, while net income tripled the previous year's after a one time gain, with net profit attributable to shareholders rising 77 per cent to CN¥1.3bn, in an earnings call last Friday.

With these results beating estimates, the Beijing-based sports shoes and apparel company, says it is on track to increase its 2020 profit margin by 1.4 percentage points to 10.5 per cent despite the recent coronavirus outbreak, with the help of cost cuts and "focusing on online opportunities", said Takeshi Kosaka, the company's joint-chief executive officer.

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