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L

Li Ning Co 2331.HK · HKD

Consumer Discretionary · HKEX · 🇭🇰 Hong Kong

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15.07

-2.65%

Close of 9 Nov 2026, in HKD

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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.

At a glance

Figures in CNY, from our data supplier.

FY2025

Revenue

CN¥34.46bn

FY2016FY2025

Net income

CN¥3.42bn

FY2016FY2025

Free cash flow

CN¥5.35bn

FY2016FY2025

Shareholders' equity

CN¥32.18bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueCN¥34.46bnCN¥33.39bnCN¥32.13bnCN¥30.04bnCN¥26.28bnCN¥16.83bnCN¥16.15bnCN¥12.24bnCN¥10.33bnCN¥9.33bn
Gross profitCN¥16.87bnCN¥16.48bnCN¥15.55bnCN¥14.54bnCN¥13.94bnCN¥8.26bnCN¥7.92bnCN¥5.88bnCN¥4.86bnCN¥4.31bn
Research and developmentCN¥817.6mCN¥853.4mCN¥719.8mCN¥622.0mCN¥482.0mCN¥376.0mCN¥422.1mCN¥266.4mCN¥197.6mCN¥146.3m
Operating incomeCN¥4.54bnCN¥4.28bnCN¥4.14bnCN¥5.69bnCN¥5.98bnCN¥2.56bnCN¥1.80bnCN¥904.9mCN¥518.9mCN¥449.2m
Net incomeCN¥3.42bnCN¥3.51bnCN¥3.71bnCN¥4.73bnCN¥4.67bnCN¥1.98bnCN¥1.75bnCN¥832.8mCN¥599.8mCN¥749.0m
Diluted earnings per share1.321.361.451.801.820.780.700.340.250.33

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsCN¥43.93bnCN¥41.58bnCN¥39.83bnCN¥39.18bnCN¥35.25bnCN¥16.99bnCN¥14.61bnCN¥10.16bnCN¥8.52bnCN¥7.90bn
Cash and short-term investmentsCN¥20.75bnCN¥18.35bnCN¥10.41bnCN¥9.34bnCN¥17.64bnCN¥8.37bnCN¥6.94bnCN¥4.28bnCN¥2.94bnCN¥2.27bn
Total liabilitiesCN¥11.75bnCN¥11.18bnCN¥11.41bnCN¥10.85bnCN¥10.68bnCN¥6.87bnCN¥6.31bnCN¥3.39bnCN¥2.62bnCN¥3.24bn
DebtCN¥2.39bnCN¥1.94bnCN¥2.54bnCN¥2.14bnCN¥1.32bnCN¥1.05bnCN¥894.3m——CN¥768.0m
Shareholders' equityCN¥32.18bnCN¥30.39bnCN¥28.42bnCN¥28.33bnCN¥24.57bnCN¥10.11bnCN¥8.29bnCN¥6.77bnCN¥5.90bnCN¥4.65bn
Shares outstanding2,586m2,586m2,556m2,628m2,561m2,521m2,508m2,455m2,440m2,247m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsCN¥6.74bnCN¥6.13bnCN¥5.46bnCN¥4.56bnCN¥7.60bnCN¥3.22bnCN¥4.08bnCN¥1.95bnCN¥1.35bnCN¥1.16bn
Capital spending−CN¥1.39bn−CN¥1.75bn−CN¥2.11bn−CN¥2.13bn−CN¥1.20bn−CN¥868.2m−CN¥798.5m−CN¥699.7m−CN¥497.9m−CN¥554.4m
Free cash flowCN¥5.35bnCN¥4.38bnCN¥3.34bnCN¥2.43bnCN¥6.40bnCN¥2.35bnCN¥3.28bnCN¥1.25bnCN¥851.8mCN¥604.7m
Dividends paid−CN¥1.59bn−CN¥1.68bn−CN¥2.53bn−CN¥1.39bn−CN¥599.9m−CN¥439.9m−CN¥250.0m−CN¥250.0m−CN¥250.0m−CN¥21.0m

Latest quarters

By quarter end

Jun 2026Dec 2025Jun 2025Dec 2024Jun 2024Dec 2023Sept 2023Jun 2023
RevenueCN¥17.49bnCN¥17.21bnCN¥17.25bnCN¥16.69bnCN¥16.70bnCN¥15.81bnCN¥7.91bnCN¥16.32bn
Gross profitCN¥8.90bnCN¥8.24bnCN¥8.63bnCN¥8.06bnCN¥8.42bnCN¥7.58bnCN¥3.79bnCN¥7.96bn
Operating incomeCN¥2.73bnCN¥1.70bnCN¥2.84bnCN¥1.49bnCN¥2.80bnCN¥1.26bnCN¥615.0mCN¥2.82bn
Net incomeCN¥2.09bnCN¥1.40bnCN¥2.02bnCN¥1.24bnCN¥2.27bnCN¥1.24bnCN¥620.4mCN¥2.47bn
Diluted earnings per share0.810.540.780.480.880.490.240.97
Cash from operations—CN¥3.61bnCN¥2.81bnCN¥2.95bnCN¥3.18bnCN¥3.20bnCN¥1.60bnCN¥2.26bn
Capital spending—−CN¥801.0m−CN¥620.0m−CN¥1.04bn−CN¥708.0m−CN¥1.50bn−CN¥751.0m−CN¥740.0m
Free cash flow—CN¥2.81bnCN¥2.19bnCN¥1.91bnCN¥2.47bnCN¥1.69bnCN¥847.0mCN¥1.52bn
Total assetsCN¥44.75bnCN¥43.93bnCN¥42.83bnCN¥41.58bnCN¥41.38bnCN¥39.83bnCN¥39.83bnCN¥39.92bn
Cash and short-term investmentsCN¥17.72bnCN¥20.75bnCN¥19.86bnCN¥18.35bnCN¥14.81bnCN¥10.41bnCN¥10.41bnCN¥10.42bn
DebtCN¥725.6mCN¥2.39bnCN¥2.07bnCN¥2.25bnCN¥2.53bn−CN¥1.64bn—CN¥3.01bn
Shareholders' equityCN¥33.36bnCN¥32.18bnCN¥31.63bnCN¥30.39bnCN¥30.16bnCN¥28.42bnCN¥28.42bnCN¥29.53bn

Financial ratios

Data as of 18 Sept 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin49.0%49.4%48.4%48.4%53.0%49.1%
Operating margin13.2%12.8%12.9%18.9%22.8%15.2%
Net margin9.9%10.5%11.5%15.7%17.8%11.7%
Return on equity10.6%11.5%13.1%16.7%19.0%19.6%
Return on assets7.8%8.4%9.3%12.1%13.2%11.6%
Free cash flow yield21.4%20.8%20.2%17.4%23.4%11.1%
Revenue growth3.2%3.9%7.0%14.3%56.1%4.2%
Earnings growth-2.6%-5.5%-21.6%1.3%136.1%13.3%
Current ratio2.85x2.71x1.88x1.71x2.42x1.95x
Debt to equity0.02x0.02x-0.13x0.03x0.02x0.04x
Equity ratio73.3%73.1%71.3%72.3%69.7%59.5%
Interest coverage30.25x23.70x19.62x47.71x79.70x40.69x
R&D as a share of sales2.4%2.6%2.2%2.1%1.8%2.2%
Buybacks as a share of market value-0.0%-1.2%2.8%-2.6%-1.6%-0.5%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue4.7%15.4%15.4%
Operating income-7.3%12.2%37.9%
Net income-10.3%11.6%70.3%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin49.2%48.8%49.5%49.0%
Operating margin13.0%14.3%15.7%13.5%
Net margin10.2%11.8%12.7%11.3%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings12.711.113.234.542.957.230.121.821.513.1
Price to sales1.31.21.55.47.66.73.31.51.31.1

Dividends and splits

Per share, in the currency the company pays

Paid for 7 years. Last went ex-dividend on 15 Jun 2026.

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Paid in the year0.2690.5950.6660.9020.5350.2050.1550.088

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

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