<p>李宁有限公司发布了截至 2025 年 12 月 31 日的最新运营更新。公司报告称，除李宁年轻（LI-NING YOUNG）外，李宁销售点（POS）的零售销售额同比下降了低个位数。在各渠道中，线下销售（包括零售和批发）出现中个位数的下降，直接零售业务下降了低个位数，特许经营分销商下降了中个位数。电子商务虚拟店业务在此期间保持平稳。截至 2025 年 12 月 31 日，中国的李宁销售点总数（不包括李宁年轻）为 6,091 个，较上个季度净减少 41 个，较年初净减少 26 个。直接零售销售点减少了 59 个，而批发销售点增加了 33 个。对于李宁年轻，截至 2025 年 12 月 31 日，中国的销售点总数达到了 1,518 个，较上个季度净增加 38 个，较年初净增加 50 个。公司指出，数据未经审计，可能会有所变动。免责声明：本新闻简报由公共技术（PUBT）使用生成性人工智能创建。虽然 PUBT 努力提供准确和及时的信息，但此 AI 生成的内容仅供参考，不应被解读为财务、投资或法律建议。李宁有限公司于 2026 年 1 月 15 日通过香港证券交易所（HKex）运营的发行人信息服务（IIS）发布了用于生成本新闻简报的原始内容（参考编号：HKEX-EPS-20260115-11991558），并对此信息的内容承担全部责任。© 版权 2026 - 公共技术（PUBT）</p>

李宁

<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>
<div class="lb-trans"><p>李宁有限公司发布了截至 2025 年 12 月 31 日的最新运营更新。公司报告称，除李宁年轻（LI-NING YOUNG）外，李宁销售点（POS）的零售销售额同比下降了低个位数。在各渠道中，线下销售（包括零售和批发）出现中个位数的下降，直接零售业务下降了低个位数，特许经营分销商下降了中个位数。电子商务虚拟店业务在此期间保持平稳。截至 2025 年 12 月 31 日，中国的李宁销售点总数（不包括李宁年轻）为 6,091 个，较上个季度净减少 41 个，较年初净减少 26 个。直接零售销售点减少了 59 个，而批发销售点增加了 33 个。对于李宁年轻，截至 2025 年 12 月 31 日，中国的销售点总数达到了 1,518 个，较上个季度净增加 38 个，较年初净增加 50 个。公司指出，数据未经审计，可能会有所变动。免责声明：本新闻简报由公共技术（PUBT）使用生成性人工智能创建。虽然 PUBT 努力提供准确和及时的信息，但此 AI 生成的内容仅供参考，不应被解读为财务、投资或法律建议。李宁有限公司于 2026 年 1 月 15 日通过香港证券交易所（HKex）运营的发行人信息服务（IIS）发布了用于生成本新闻简报的原始内容（参考编号：HKEX-EPS-20260115-11991558），并对此信息的内容承担全部责任。© 版权 2026 - 公共技术（PUBT）</p>
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李宁报告 2025 年第四季度零售销售额出现低个位数的下降