Home / Knowledge / News / Apparel/Garments / Li Ning to set forth go forward plan to improve business

Li Ning to set forth go forward plan to improve business

23
Aug '12
Li Ning Company Limited announces its results for the six months ended 30 June 2012. Revenue was RMB3,880.1 million, representing year-on-year decline of 9.5%. Profit attributable to equity holders and earnings per share both went down by 84.9% to RMB44.3 million and RMB4.21 cents respectively. The results were broadly in line with the Group's performance guidance throughout the period. Moving forward, the Group will endeavour to enhance overall management strength and operational capabilities, set forth the go forward plan and short-term initiatives.

Under the current operating conditions, the Board of Directors resolved not to declare interim dividend for the six months ended 30 June 2012 (30 June 2011: RMB11.13 cents per ordinary share). The Board believes that the Group should retain cash for its future development.

Mr. Li Ning, Chairman of the Group commented, "During the first half of 2012, in the face of the industry slowdown and intensifying competition, the Group's business performance showed a relatively large degree of decline. To effectively respond to the industry environment, and to propel the Group's long-term, sustainable development, the Group decided to focus its resources on the core LI-NING brand and the Chinese market, centre on the essence of sports, to give full play to the brand value. Despite the pressures, the Group continued to press ahead with its reforms during the first half."
 
Adhering to the strategy of focusing on its core business, during the first half of 2012, the Group formulated and executed its Olympics integrated marketing plan and sustained its consistent communication with consumers on the brand positioning via marketing platforms founded on core sports competitions, combined with new product functionality and unique brand personality to strengthen brand equity. In particular, the Group further invested into its basketball category in June, when it signed a memorandum of cooperation regarding the Group's role as an equipment sponsor for the CBA for five seasons from 2012/2013 through 2016/2017.
 
2012 marks the year of the Games of the 30th Olympiad, and to capture the opportunities of the London 2012 Olympic Games, the Group conducted and participated in a series of activities including the "Olympic Flame Witnesses Change", wherein Mr. Li concluded the torch relay across Greece with the last flame handover; "Witness the Change, the Dragon Dazzles London" press conference for sponsorship of five national gold medal teams' Olympic sports gear; an exhibition tour to showcase LI-NING brand's professional Olympic gear for the five national gold medal teams; and "The Chinese will Make the Change" themed Olympics marketing and promotions which integrates a variety of resources including TV commercial, outdoor advertisement, brand public relations, POP key vision, in-store displays, field events, themed sales as well as digital sales and marketing.


Must ReadView All

Pic: Shutterstock

Textiles | On 5th Aug 2020

Procure garments, textiles from domestic firms: Ghana prez

Ghanaian President Nana Addo Dankwa Akufo-Addo recently directed all...

Pic: Shutterstock

Apparel/Garments | On 5th Aug 2020

New COVID-19 wave to threaten Vietnamese garment sector

A fresh wave of COVID-19 may worsen the situation of Vietnam's...

Pic: Shutterstock

Fashion | On 5th Aug 2020

Ralph Lauren Q1 FY20: revenues $487 mn; net loss $128 mn

Ralph Lauren Corporation, a leading designer of of premium lifestyle...

Interviews View All

Shawn Honeycutt, Bolger & O'Hearn

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Textile Industry, Head honchos

Textile Industry
Head honchos

Verticals like fast fashion won’t completely adopt personalisation on...

Abhishek Ganguly, Puma India

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Eric Schoeller,

Eric Schoeller

Groz-Beckert is the world's leading provider of industrial machine...

Mala Alwani,

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Anupam Arya,

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions &amp; Vertriebs Gmbh, founded in 1978 and headquartered ...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search