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Article Date: March 2017
Word Count: 186

Li Ning Has Big Year Boosted by Double Happiness Sale

Comprehensive net income jumped more than tenfold to RMB702,082,000 ($105.7 million) from RMB60,615,000 on a strong core business and a RMB313.2 million gain on the sale of its interest in the table tennis brand. Revenue from continuing operations climbed 13% to RMB8,015,293,000 ($1,206.4 million) from RMB7,089,495,000. Gross margin gained 140 basis points to 46.2%. Following the Double Happiness sale, the Li Ning brand now accounts for substantially all of the company’s business, and all sales were in the home China market except for RMB206.5 million ($31.1 million) in export sales.


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