Asian Spectator


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Li Ning Company Limited Announces 2025 Annual Results

Anchored in a "Single Brand, Multi-categories, Diversified Channels" Strategy
Technology and Premium Sports Resources Drive Our Competitive Edge

FINANCIAL HIGHLIGHTS
  • During the year, the Group recorded the following operating results:
    • Revenue rose by 3.2% to RMB29,598 million; gross profit margin declined by 0.4 percentage points to 49%
    • Net operating cash inflow was RMB4,852 million
    • Net profit attributable to equity holders was RMB2,936 million with net profit margin of 9.9%, and EBITDA margin was 20.8%
  • Working capital remained at a healthy level:
    • The percentage of gross average working capital to revenue was 7.7%
    • The cash conversion cycle was at 37 days, two days longer than last year
  • The Board has recommended the payment of final dividend of RMB23.36 cents per ordinary share for the year ended 31 December 2025, together with the interim dividend of RMB33.59 cents per ordinary share paid in September 2025, the total dividend for the year ended 31 December 2025 will amount to RMB56.95 cents per ordinary share or a total dividend payout ratio of 50%.

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