Li Ning revenue rises 3.3% but profit falls 11%

Li Ning Company reported revenue growth of 3.3% to RMB14.8bn for the six months ended 30 June 2025, up from RMB14.3bn in the prior year.

However, profit attributable to equity holders fell 11% to RMB1.7bn from RMB1.95bn in 2024. The effective tax rate jumped to 33.3% from 25.3%, impacting overall profitability.

E-commerce revenue grew 7.4% while direct operation revenue declined 3.4%. Gross profit margin slipped 0.4 percentage points to 50%.