[Performance Express] Li Ning earned 1.1 times more last year, Milan Station lost 23.5 million yuan

Financial news

Written by: Lin Leqian

2020-03-27 10:33

Li Ning (2331) announced its annual results. The profit for the period increased by 1.1 times to RMB 1.499 billion (the same below). After deducting the one-time non-operational gains and losses, the profit rose 77% to RMB 1.266 billion, and the earnings per share were 61.94 cents. The final dividend was 15.47 cents, an increase of 76% year-on-year.

During the period, revenue rose 32% to RMB 13.887 billion, gross profit margin increased by 1 percentage point to 49.1%, overall same-store sales increased by 10-20%, and new retail sales (online and offline) increased by 20-30%. As of the end of December last year, there were a total of 6,449 Li Ning sales points (excluding Li Ning Young) in the Mainland, a net increase of 105 during the year; Li Ning Young sales points increased by 1,101, a net increase of 308 during the year.

The Group stated that the new pneumonia would inevitably affect the Group's operating conditions and financial performance. This year ’s overall outlook may face severe tests. It is temporarily difficult to predict the final impact of the spread of the virus on society, the economy and the Group ’s operations. It will continue to pay close attention to Epidemic trends and market conditions.

Milan Station loses 23.5 million yuan

Milan Station (1150) announced that last year's loss decreased by 41% to 23.5 million yuan, revenue fell by 12.4% to 230 million yuan, and gross profit margin increased by 1.1 percentage points to 20.6%. No final dividend. The Group explained that the decrease in losses was mainly due to the decrease in rental expenses of retail stores due to the closure of non-profit stores and the decrease in fair value losses of financial assets at fair value through profit or loss of approximately RMB 62 million.

The Group expects that the local retail market will decline further this year. The Group will adopt a prudent and flexible strategy. It will also focus on controlling costs and reviewing its retail strategy. It is cautious about its business performance this year.

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