Li Ning Company Limited (2331.HK) stock price, financials & research

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Company profile

Operating within the People's Republic of China, Li Ning Company Limited is a comprehensive sporting goods enterprise involved in every stage from product innovation and design to manufacturing, marketing, distribution, and retail. Under its flagship LI-NING brand, the company primarily offers athletic footwear, apparel, equipment, and various accessories, serving both professional athletes and recreational enthusiasts. Beyond its main brand, Li Ning also manages a collection of specialized brands, including AIGLE for outdoor sports products, Double Happiness for table tennis gear, Danskin for fashionable dance and yoga fitness wear, and Kason for badminton equipment. As of December 31, 2021, the LI-NING brand's retail footprint consisted of 7,137 stores, encompassing conventional outlets, flagship locations, dedicated China LI-NING stores, factory outlets, and multi-brand retail spaces. The company, established in 1990, is headquartered in Beijing, China.

Industry: Leisure
Sector: Consumer Cyclical
Headquarters: CN
CEO: Ning Li
Listed since: Jun 28, 2004
Employees: 5,152

Market position

Day range

Current HK$13.51

HK$13.48HK$14.15

52-week range

Current HK$13.51

HK$13.49HK$23.42

Open: HK$14.15
Previous close: HK$14.25
Volume: 21.12M; 1.01× average
Average volume: 21M; Average daily volume
Market cap: 34.92B HKD
Beta: 0.94; Market reference 1
50-day average: HK$15.0878; -10.46% below average
200-day average: HK$18.5941; -27.34% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value: 28.73B CNY
P/E (TTM): 10.07×
P/B (TTM): 1.04×
P/S (TTM): 1×
EV / EBITDA: 5.8×
Earnings yield: 6.77%
Free cash flow yield: 10.60%
Dividend yield: 4.71%

Profitability & efficiency

Gross margin: 49.38%
Operating margin: 12.78%
Net margin: 10.03%
Return on equity: 10.62%
Return on assets: 7.78%
Return on invested capital: 9.03%

Financial health

Debt / equity: 0.09×
Current ratio: 2.85×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin

Income trends

Revenue

29.6B CNY+3.22%

Operating income

3.9B CNY+5.98%

Net income

2.94B CNY-2.56%

Metric (CNY)	FY2025	FY2024	FY2023	FY2022	FY2021
Revenue	29.6B CNY	28.68B CNY	27.6B CNY	25.8B CNY	22.57B CNY
Cost of goods sold	15.11B CNY	14.52B CNY	14.25B CNY	13.32B CNY	10.6B CNY
Gross profit	14.49B CNY	14.16B CNY	13.35B CNY	12.48B CNY	11.97B CNY
Research and development	702.17M CNY	732.89M CNY	618.18M CNY	534.16M CNY	413.95M CNY
Selling, general, and administrative	10.82B CNY	10.63B CNY	10.34B CNY	8.43B CNY	7.25B CNY
Operating expenses	10.59B CNY	10.48B CNY	9.79B CNY	7.6B CNY	6.83B CNY
Interest income	296.71M CNY	429.53M CNY	476.74M CNY	353.99M CNY	145.1M CNY
Interest expense	128.85M CNY	155.17M CNY	181.45M CNY	102.43M CNY	64.45M CNY
Depreciation and amortization	834.13M CNY	1.86B CNY	1.9B CNY	1.45B CNY	1.14B CNY
Operating income	3.9B CNY	3.68B CNY	3.56B CNY	4.89B CNY	5.14B CNY
Net income	2.94B CNY	3.01B CNY	3.19B CNY	4.06B CNY	4.01B CNY