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.
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