Li Ning breaks even following losses in 2014
Chinese sportswear manufacturer and retailer Li Ning has reported a break-even in terms of profit and loss for the year to the end of 2105, compared with a loss of RMB 781 million ($119 million) for the year before.
Li Ning, like some of its Chinese counterparts, suffered when the economy slowed after years of fast growth. It was left with stock surpluses and was hit by rising wages.
It said the rise in sales is due to its commitment to improving direct retail store operating efficiency and profitability, enhancing long-term relationships with channel partners, and the expansion of its e-commerce business.
The results do not take into account of the net gain arising from the disposal of 10% interest in table tennis brand Double Happiness announced in October.
