$Li Ning Co. Ltd. (02331.HK) $When the 2022 interim results were released, revenue rose 21.7 per cent year-on-year to 12.409 billion yuan (the same unit below), gross profit rose 8.8 per cent to 6.2 billion yuan, net profit attributable to equity holders rose 11.6 per cent to 2.189 billion yuan, and net interest rate fell from 19.2 per cent to 17.6 per cent. Basic earnings per share is 83.77 cents.

The announcement said that the group continued to polish the Li Ning-style experience value, deeply cultivated the strategy of "single brand, multi-category, multi-channel", expanded high-quality profitable stores, strengthened the coordination of online and offline business, and promoted the healthy growth of income from various channels: this period, affected by the epidemic in many big cities such as Shanghai and Shenzhen, the direct channel operation dominated by urban layout was affected, and the pace of income expansion slowed down, with a year-on-year growth rate of 10.8%. E-commerce channels actively develop live broadcast business, and at the same time carry out more efficient and accurate publicity and delivery, maintain a good online business ecology, and achieve a steady growth of 19.2% in revenue; and the Group strengthens the business integration and channel management of franchisees. The order volume of franchisees increased; at the same time, with the recovery of the epidemic in the late second quarter, new products were also released to the channel to promote the recovery of running water as soon as possible.

The above measures led to an increase of 28.5% in the group's franchise revenue, showing dealers' confidence in the recovery of the epidemic and their continued optimism about the future market.