Li Ning (2331) recorded a low single-digit year-on-year decline in retail sell-through across the overall platform for the fourth quarter last year, excluding Li Ning Young.
Li Ning's stock price rose 1.7 percent against the market in half a day, and was reported at HK$19.7 at noon, with a turnover of nearly HK$1.6 billion.
Offline channels overall posted a mid-single-digit year-on-year decline, with a low-single-digit drop in direct retail and a mid-single-digit fall in wholesale. The e-commerce virtual stores business remained flat, according to the filling released on Thursday.
By the end of last year, the sportswear brand's total number of points of sale in China, excluding Li Ning Young, stood at 6,091.
This represented a net decrease of 41 POS since the end of the previous quarter and a net decrease of 26 POS since the beginning of this year.
Among the net decrease of 26 POS, direct retail accounts for a net decrease of 59 POS, and wholesale accounts for a net increase of 33 POS.
