Reported 12 months ago
Legendary Chinese gymnast Li Ning is contemplating raising his ownership in the sports apparel company he founded to have more control over future strategies. He may bring in private equity partners to help finance the deal, potentially increasing his current 10.5% stake in Li Ning Co. Discussions are in the early stages, and Li might opt not to proceed. Founded in 1990, Li Ning's company faced challenges in 2023 but has shown positive stock movements in 2024. Li Ning's revenue in 2023 was 27.6 billion yuan ($3.8 billion) with a net income decline of over 20% to 3.2 billion yuan.
Source: YAHOO