GoAI
Get started
Li Ning Company Limited logo

Li Ning Company Limited

82331.HK

HKSEConsumer CyclicalLeisure

Open in GoAI

Latest quote

CN¥11.59

−CN¥0.60 · -4.92%

Aug 24, 10:52 AM HKT

82331.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

Li Ning Company Limited functions as a leading sports apparel and equipment enterprise in the People's Republic of China, overseeing everything from innovation and product creation to manufacturing, promotion, distribution, and sales of sporting goods. Its primary brand, LI-NING, offers a comprehensive selection of performance and casual footwear, clothing, gear, and various accessories. Additionally, the company develops, produces, markets, and sells outdoor sports products under the AIGLE brand, table tennis items through the Double Happiness label, and badminton equipment via the Kason brand. Beyond its product offerings, Li Ning provides brand licensing, administrative support, research and development services, and property management. The LI-NING brand is retailed across multiple formats, including traditional stores, prominent 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 19, 2023
Employees
5,152

Market position

Day range

Current CN¥11.59

52-week range

Current CN¥11.59

Open
CN¥12.00
Previous close
CN¥12.19
Volume
17.5K
1.37× average
Average volume
12.76K
Average daily volume
Market cap
29.87B CNY
Beta
0.96
Market reference 1
50-day average
CN¥13.0094
-10.91% below average
200-day average
CN¥16.2318
-28.60% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
28.73B CNY
EV / EBITDA
5.8×
Earnings yield
6.77%
Free cash flow yield
10.60%

Profitability & efficiency

Return on equity
10.62%
Return on assets
7.78%
Return on invested capital
9.03%

Financial health

Current ratio
2.85×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends57%40%23%6%Gross margin, FY2021: 53.03%Gross margin, FY2022: 48.38%Gross margin, FY2023: 48.38%Gross margin, FY2024: 49.37%Gross margin, FY2025: 48.95%Operating margin, FY2021: 22.76%Operating margin, FY2022: 18.94%Operating margin, FY2023: 12.90%Operating margin, FY2024: 12.83%Operating margin, FY2025: 13.17%Net margin, FY2021: 17.77%Net margin, FY2022: 15.75%Net margin, FY2023: 11.55%Net margin, FY2024: 10.51%Net margin, FY2025: 9.92%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 53.03%. Gross margin FY2022 48.38%. Gross margin FY2023 48.38%. Gross margin FY2024 49.37%. Gross margin FY2025 48.95%. Operating margin FY2021 22.76%. Operating margin FY2022 18.94%. Operating margin FY2023 12.90%. Operating margin FY2024 12.83%. Operating margin FY2025 13.17%. Net margin FY2021 17.77%. Net margin FY2022 15.75%. Net margin FY2023 11.55%. Net margin FY2024 10.51%. Net margin FY2025 9.92%.

Income trends

Revenue

29.6B CNY+3.22%

Operating income

3.9B CNY+5.98%

Net income

2.94B CNY-2.56%
Income trends across reported periods32.26B CNY21.6B CNY10.93B CNY269.48M CNYRevenue, FY2021: 22.57B CNYRevenue, FY2022: 25.8B CNYRevenue, FY2023: 27.6B CNYRevenue, FY2024: 28.68B CNYRevenue, FY2025: 29.6B CNYOperating income, FY2021: 5.14B CNYOperating income, FY2022: 4.89B CNYOperating income, FY2023: 3.56B CNYOperating income, FY2024: 3.68B CNYOperating income, FY2025: 3.9B CNYNet income, FY2021: 4.01B CNYNet income, FY2022: 4.06B CNYNet income, FY2023: 3.19B CNYNet income, FY2024: 3.01B CNYNet income, FY2025: 2.94B CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 22.57B CNY. Revenue FY2022 25.8B CNY. Revenue FY2023 27.6B CNY. Revenue FY2024 28.68B CNY. Revenue FY2025 29.6B CNY. Operating income FY2021 5.14B CNY. Operating income FY2022 4.89B CNY. Operating income FY2023 3.56B CNY. Operating income FY2024 3.68B CNY. Operating income FY2025 3.9B CNY. Net income FY2021 4.01B CNY. Net income FY2022 4.06B CNY. Net income FY2023 3.19B CNY. Net income FY2024 3.01B CNY. Net income FY2025 2.94B CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue29.6B CNY28.68B CNY27.6B CNY25.8B CNY22.57B CNY
Cost of goods sold15.11B CNY14.52B CNY14.25B CNY13.32B CNY10.6B CNY
Gross profit14.49B CNY14.16B CNY13.35B CNY12.48B CNY11.97B CNY
Research and development702.17M CNY732.89M CNY618.18M CNY534.16M CNY413.95M CNY
Selling, general, and administrative10.82B CNY10.63B CNY10.34B CNY8.43B CNY7.25B CNY
Operating expenses10.59B CNY10.48B CNY9.79B CNY7.6B CNY6.83B CNY
Interest income296.71M CNY429.53M CNY476.74M CNY353.99M CNY145.1M CNY
Interest expense128.85M CNY155.17M CNY181.45M CNY102.43M CNY64.45M CNY
Depreciation and amortization834.13M CNY1.86B CNY1.9B CNY1.45B CNY1.14B CNY
Operating income3.9B CNY3.68B CNY3.56B CNY4.89B CNY5.14B CNY
Net income2.94B CNY3.01B CNY3.19B CNY4.06B CNY4.01B CNY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
78%
7 beats, 2 misses, 0 met estimates
Average EPS surprise
+73.11%
9 comparable reports
Latest EPS result
0.7
Estimate 0.09 · Beat by 643.10%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.860.60.340.08Q3 '23BeatQ1 '24MissQ3 '24BeatQ1 '25MissQ3 '25BeatQ1 '26BeatQ3 '26BeatQ1 '27Estimate
Q3 2023, reported Aug 10, 2023: actual 0.803, estimate 0.775, surprise +3.61%, Beat. Q1 2024, reported Mar 19, 2024: actual 0.411, estimate 0.515, surprise -20.19%, Miss. Q3 2024, reported Aug 14, 2024: actual 0.755, estimate 0.67, surprise +12.69%, Beat. Q1 2025, reported Mar 26, 2025: actual 0.41, estimate 0.43, surprise -4.65%, Miss. Q3 2025, reported Aug 21, 2025: actual 0.672, estimate 0.65, surprise +3.38%, Beat. Q1 2026, reported Mar 19, 2026: actual 0.46, estimate 0.41, surprise +12.20%, Beat. Q3 2026, reported Aug 20, 2026: actual 0.7, estimate 0.094, surprise +643.10%, Beat. Q1 2027, reported Mar 18, 2027: actual —, estimate 0.18, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates15.85B14.84B13.83B12.82BQ3 '23BeatQ1 '24BeatQ3 '24MissQ1 '25BeatQ3 '25BeatQ1 '26BeatQ3 '26MissQ1 '27Estimate
Q3 2023, reported Aug 10, 2023: actual 14.02B CNY, estimate 13.62B CNY, surprise +2.90%, Beat. Q1 2024, reported Mar 19, 2024: actual 13.58B CNY, estimate 13.43B CNY, surprise +1.09%, Beat. Q3 2024, reported Aug 14, 2024: actual 14.35B CNY, estimate 14.36B CNY, surprise -0.10%, Miss. Q1 2025, reported Mar 26, 2025: actual 14.33B CNY, estimate 13.71B CNY, surprise +4.55%, Beat. Q3 2025, reported Aug 21, 2025: actual 14.82B CNY, estimate 14.56B CNY, surprise +1.75%, Beat. Q1 2026, reported Mar 19, 2026: actual 14.78B CNY, estimate 14.15B CNY, surprise +4.48%, Beat. Q3 2026, reported Aug 20, 2026: actual 15.04B CNY, estimate 15.24B CNY, surprise -1.31%, Miss. Q1 2027, reported Mar 18, 2027: actual —, estimate 15.1B CNY, surprise —, Comparison unavailable.

82331.HK peers

Alibaba Group Holding Limited logo

9988.HK

Alibaba Group Holding Limited

HK$111

-9.76%

Alibaba Group Holding Limited logo

89988.HK

Alibaba Group Holding Limited

CN¥95.20

-9.76%

Fast Retailing Co., Ltd. logo

6288.HK

Fast Retailing Co., Ltd.

HK$38.30

+2.96%

BYD Company Limited Class H logo

81211.HK

BYD Company Limited Class H

CN¥78.80

-1.50%

BYD Company Limited logo

1211.HK

BYD Company Limited

HK$91.90

-1.34%

Midea Group logo

0300.HK

Midea Group

HK$97.25

+0.36%

Continue in GoAI

Research 82331.HK

research.disclaimer