LI NING Limited entered into a renewed framework agreement with the major shareholder VIVA GOODS on December 13, 2024, extending their cooperation until December 31, 2027. The new agreement expands the scope of cooperation, covering multiple areas such as product sales, production processing, service provision, property leasing, and co-branded product development.According to the agreement, the annual upper limit for amounts receivable by LI NING from VIVA GOODS for the years 2025 to 2027 is 50 million yuan, while the annual upper limits payable to VIVA GOODS are 0.8 billion yuan, 0.9 billion yuan, and 950 million yuan respectively. The increase in payable limits is mainly due to LI NING's plan to further involve VIVA GOODS in sports shoe manufacturing to improve cost-effectiveness and quality control.LI...Show More

LI NING Limited entered into a renewed framework agreement with the major shareholder VIVA GOODS on December 13, 2024, extending their cooperation until December 31, 2027. The new agreement expands the scope of cooperation, covering multiple areas such as product sales, production processing, service provision, property leasing, and co-branded product development.According to the agreement, the annual upper limit for amounts receivable by LI NING from VIVA GOODS for the years 2025 to 2027 is 50 million yuan, while the annual upper limits payable to VIVA GOODS are 0.8 billion yuan, 0.9 billion yuan, and 950 million yuan respectively. The increase in payable limits is mainly due to LI NING's plan to further involve VIVA GOODS in sports shoe manufacturing to improve cost-effectiveness and quality control.LI NING stated that this cooperation will leverage the strengths of both parties, creating a synergistic effect that is beneficial for the company to obtain more resources. Directors other than LI NING and LI Qilin believe that the terms of the agreement are fair and reasonable and align with the overall interests of the company and shareholders. According to the listing rules, this transaction constitutes a continuous related party transaction, which must comply with disclosure, announcement, and annual review regulations, but is exempt from independent shareholder approval.