Summary by Futu AI
LI NING CO., LTD. ANNOUNCED ITS ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2023, ACHIEVING REVENUES OF RMB275.98 BILLION, AN INCREASE OF 7.0% YEAR-ON-YEAR; THE GROSS MARGIN REMAINED 48.4%. Net operating cash flow increased to RMB46.88 billion, up 19.8% year-on-year. Equity holders accounted for a net profit of RMB 31.87 million with a net interest rate of 11.5%. The Board of Directors proposes to distribute a final dividend of RMB18.54 per ordinary share, an annual dividend of RMB54.74 per ordinary share, and a dividend rate of 45% for the whole year. Overall retail water flow grew by a low of 10% to 20%, channel inventories declined, and inventory turnover and building structures remained healthy. Underline retail sales also grew by a low 10% to 20%. THE COMPANY'S SHARES WERE LISTED ON THE MAIN BOARD OF THE HONG KONG STOCK EXCHANGE LIMITED AND APPROVED TO PUBLISH THESE CONSOLIDATED FINANCIAL RESULTS ON 19 MARCH 2024.
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