Li Ning said the vicious competition in the industry affect sales

Li Ning Group Executive Board and Chief Executive Officer Zhang Zhiyong, pointed out that the domestic sporting goods companies with substantial discounts to attract more customers, improve the Group in April and May this year, same-store sales growth in line with the first quarter, while the Golden Week The sale has not been seen prominent.
According to a Hong Kong newspaper reported Mainland Sports shares of Li Ning, since the publication of the annual results, the stock price sank can not afford, and the management of the company, said after the annual general meeting yesterday, the industry vicious competition situation has not improved, golden week, also failed to boost sales.
Li Ning earn less last year more than 6 percent after the announcement of the results by the end of March, the company's share price is accumulated in the two months fell 18.77% to 1.67% of the company's share price rebounded slightly yesterday, reported 6.71 yuan, turnover 679 million.
Group Executive Board and Chief Executive Officer of Li Ning Zhang Zhiyong, pointed out that the domestic sporting goods companies failed to improve the situation of deep discounts to attract more customers, the Group in April and May of this year, same-store sales growth in line with the first quarter, while the Golden the sales of the week no prominent.
the face of a lot of inventory, the sporting goods company more large discount clearance, Zhang Zhiyong, said the company this year, the retail discount will be given seven tickets, and last year spent 310 million yuan repurchase stock this year the amount of the repurchase will not exceed last year's level.
international brands such as Nike, Adidas in recent years aggressively penetrate the Chinese market, Zhang Zhiyong frankly domestic brands lack the capability of independent innovation, and more difficult to compete with international brands, Li Ning as the first batch of independent research and development of Chinese sports company will actively seek its own position, and this year will continue to invest approximately 2.5% of the turnover for R & D funding.
In addition, the company introduced in an earlier private equity fund TPG (TexasPacificGroup) as a strategic shareholder, said the focus of the work of the Fund in the short term is to improve the cash flow of the Group of the Fund Partner and Li Ning, a non-executive Dongjin Zhen Jun, inventory problems and team stability, long-term, compared with the Group for market research to help brand positioning.