China’s market leader in the sporting goods sector apparently continues to struggle with figures in the red. Li Ning said today that it expects a net loss of 820 million yuan renminbi (€111.8 million) for the last financial year ended Dec. 31. It was said that the loss derives basically from debt management, reduced sales and implementation of its re-structuring program introduced in 2012.
However, it would seem that the loss is shrinking. For the first half of financial 2014, net loss was RMB 585.8 million (€79.9 million). This indicates, at least, that a significantly smaller part of last year’s negative results were due to performance in the second six months from July through December. For the full year, however, the 2014 loss is well above the prior year when net loss stood at RMB 391.5 million (€53.4 million).