Li Ning hit by first annual loss since 2004 listing | CHINA US Focus

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Li Ning hit by first annual loss since 2004 listing

jason
March 27, 2013
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Li Ning Co Ltd, China's second-largest sportswear maker by revenue, has reported a net loss of 1.98 billion yuan ($318.78 million) for 2012, highlighting an ongoing overall slump in the sector.

The company's revenue declined 24.5 percent year-on-year to 6.74 billion yuan, according to figures released by the Hong Kong-listed group on Tuesday.

It was Li Ning's first annual loss since it listed in 2004, and compared with a profit of 385.8 million yuan in 2011, according to Reuters.

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