Chinese sports brand Li Ning Company Limited has posted strong 2006 annual results, ended December 31.

Turnover grew 29.8% to yuan 3,180,543,000 ($411,321,435), whilst sales of  Li-Ning branded products—which accounted for 99.6% of the total turnover—improved 35.7% year-on-year to yuan 3,168,045,000.

Commenting on the results Mr Li Ning, chairman, said, “Strong economic growth and rising consumer spending in China, coupled with the upcoming 2008 Beijing Olympic Games, have created a favourable macro operating environment for the group. As we continued to place strong emphasis on branding, product design, research and development, and improving supply chain management, the group achieved another year of distinguished results in 2006. Along with our endeavour to develop the core brand, Li-Ning brand, we also extend into multi-brand strategy. These fuelled our business growth and set a solid platform for us to capture opportunities as the 2008 Beijing Olympics approaches.”