LI NING's revenue in 2025 increased by 3.2% to 29.598 billion yuan, in line with market expectations.

On the evening of March 19, 2026, LI NING (02331) disclosed its 2025 performance announcement. In 2025, LI NING's revenue reached 29.598 billion RMB, an increase of 3.2% year-on-year, gross profit was 14.489 billion RMB, an increase of 2.4% year-on-year, and net profit attributable to equity holders was 2.936 billion RMB, with a net profit margin of 9.9%. Net cash increased by 1.81 billion RMB year-on-year, reaching 19.974 billion RMB, overall meeting market expectations. The Board of Directors recommends distributing a final dividend of 23.36 cents RMB per ordinary share for the year ended December 31, 2025, together with a mid-term dividend of 33.59 cents RMB per ordinary share paid in September 2025. The total annual dividend for the year ended December 31, 2025 will be 56.95 cents RMB per ordinary share, with a dividend pay-out ratio of 50%.