After getting rid of losses last year, Li Ning's performance has been further improved.
According to the semi-annual report it just released, in the first half of the year, Li Ning's revenue was 3.596 billion yuan, a year-on-year increase of 13%, and net profit was 113 million yuan, compared with a loss of 29 million yuan in the same period of last year. Last year, Li Ning ended its three-year loss, but its profit was only 14.309 million yuan. This time is seen as entering the formal recovery path.
One of the reasons for Li Ning’s success is improvement of channels. It is worth mentioning that the sales of e-commerce business have doubled from 220 million yuan in the same period of last year to 460 million yuan, and the proportion of Li Ning's total revenue has increased from 7% to 12.8%. E-commerce has probably made a lot of effort in destocking. The implementation of the O2O omni-channel inventory integration system platform has also effectively improved the inventory structure and improved product turnover.
After the old stocks were digested, new products brought higher gross profit - from 45.2% to 46.7%. In the first half of this year, they launched new products such as the third-generation running shoes, Arc 2016 running shoes, ultra-light running shoes, Captain America series, N99 and N80 badminton rackets, and the new product sold rate increased by 2%.
Li Ning said in an interview with Tencent Finance that he was satisfied with the development and profitability of the e-commerce platform, but the development of direct-operated stores was not satisfactory. In the future, they will have to make a transition from a street-side shop to a mall-based shop, achieving a 3:7 ratio between street-side shops and mall stores.
Li Ning's development is also benefiting from the good of the entire sporting goods market. After the decline from 2011 to 2013, the sporting goods industry began to grow rapidly again in 2014, returning to a high speed of 15.89%. We have reviewed the performance of domestic sports brands in the past year, and they have performed well. This is related to the rise of Chinese consumers' health and sports awareness, as well as the prevalence of sports style in fashion trends.
However, it is more difficult to return to the past. Because competitors are also growing rapidly, Anta has yet to announce its performance in the first half of this year. Last year, its sales reached 11.12 billion yuan, making it the first ultra-billion Chinese sports brand with an increase rate of 24.7% (Li Ning's revenue was 70.89 last year. Billion). At the ongoing Rio Olympic Games, Li Ning sponsored the Indian national team; Anta was the sponsor of the Chinese national team.
As for the other two strong enemies, not only the sales volume is large, but also the growth rate is faster. Because Stan Smith and NMD are selling well, Adidas' gross revenue in Greater China during the first half of 2016 was approximately RMB 10.74 billion, an increase of 24.6%. Nike has just announced its annual financial report for the fiscal year 2016. China's revenue growth is 27% (the latest two quarters total revenue is about RMB 13.03 billion). Other foreign sports brands such as Under Armour and Asics are also becoming more and more active in the Chinese market.
The title map comes from Wikipedia
Source: Curiosity Daily
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