HONG KONG: Chinese sports brand Li Ning Co Ltd said it expects to post its third straight full-year loss, as it grapples with a restructuring, bloated inventories and slowing demand following the 2008 Olympics.
Li Ning, which is backed by private equity powerhouse TPG Capital and Singapore wealth fund GIC, forecast a net loss of up to 820 million yuan (US$132mil) for 2014 due in part to costs related to its transformation plans.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
