China's Li Ning profit warning sends shares to 6-1/2 year low


  • Business Premium
  • Tuesday, 12 Jun 2012

HONG KONG: Private equity-backed Chinese sportswear brand Li Ning Co Ltd warned of a "substantial decline" in profit for 2012 due to weaker sales and higher marketing costs, knocking its shares to a 6-1/2 year low.

"Investors are likely to lose confidence in the company due to its unclear market position and intensifying competition from local and foreign brands," said Conita Hung, head of equity research at Delta Asia Financial.

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