<p>Li Ning Company Limited has released its latest operational update for the fourth quarter ended 31 December 2025. The company reported that the retail sell-through of LI-NING Points of Sale (POS), excluding LI-NING YOUNG, declined by low-single-digit on a year-on-year basis across the overall platform. Within channels, offline sales, including both retail and wholesale, registered a mid-single-digit decline, with direct retail operations declining by low-single-digit and franchised distributors by mid-single-digit. The e-commerce virtual stores business remained flat during the period. As of 31 December 2025, the total number of LI-NING POS (excluding LI-NING YOUNG) in China stood at 6,091, reflecting a net decrease of 41 POS since the previous quarter and a net decrease of 26 POS since the beginning of the year. Direct retail POS declined by 59, while wholesale POS increased by 33. For LI-NING YOUNG, the total number of POS in China reached 1,518 as at 31 December 2025, representing a net increase of 38 since the previous quarter and a net increase of 50 since the start of the year. The company noted that the data is unaudited and may be subject to change. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Li Ning Company Limited published the original content used to generate this news brief via IIS, the Issuer Information Service operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260115-11991558), on January 15, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)</p>

Li Ning Reports Low-Single-Digit Decline in Retail Sell-Through for Fourth Quarter 2025