Image credit: Visual China
Li Xiaoning, 25 years old, gained 1.2 million stock options as an employee and officially appeared in the family business as a "white-collar worker". On the product structure, the operating income of 10-30 billion yuan products was 401/1288/60 million yuan respectively, and the overall sales volume of the company in 2023 was 18,000 kiloliters, with a yoy growth of +28.10%, showing significant growth.
On June 19th, extraordinary leader Yue (00933.HK) announced that according to the January 18, 2021 stock option plan, about 208 million stock options were awarded to the company's directors and employees. The announcement detailed some of the recipients of the stock options, including Li Ning and his nephew Li Qilin, each receiving 7 million shares. It is worth noting that Li Xiaoning, son of Li Ning, was singled out in the announcement.
Image source: Taken from the announcement. Please use your Futubull account to access the feature.
After retiring from the sports industry, Li Ning formed a family with his girlfriend of 11 years, Chen Yongyan. In 1999, their son, Li Xiaoning, was born, and their daughter, Li Xiaoyan, was born in 2006. Although they are both 'second-generation entrepreneurs', they are very low-key and rarely appear in public view. Little is known about their public information.
This means that Li Xiaoning officially appeared in the family business as a 'white-collar worker' by gaining equity as an employee.
Li Xiaoning is not the only one who has entered the family-related companies. Li Ning's brother, Li Jin's son, Li Qilin, entered the company much earlier than Li Xiaoning. Coincidentally, Li Qilin started in the family-related company from extraordinary leader Yue.
Extraordinary leader Yue is not only Li Ning's second company, but also an important platform to help Li Ning's company further open up the international market and more widely cover multi-category consumable goods brands.
Speaking of Extraordinary Leader Yue, Li Ning once said that he hopes to turn the business into a globally renowned consumer brand operator that can lead or serve people in pursuit of an elegant, joyful and healthy lifestyle. In today's highly homogenized consumer goods market, Li Ning believes that the brand's value, the products created by the brand, and the values behind the product are far more important.
Therefore, there is often such an analysis in the industry - Li Ning's multi-brand dream is hidden in extraordinary leader Yue.
In June of this year, Extraordinary Leader Yue announced the establishment of a joint venture company with Lion Capital to bring Haglöfs (matches) into the Greater China region invested by Lion Capital last year.
In 2019, Lion Capital and Li Ning Company jointly established Lion Capital Partnership Fund, which was chaired by Li Ning and focused on investment transactions between China and other major markets. If we trace back to the previous transnational investment transaction, it was Li Ning who took control of the hundred-year-old British shoe brand Clarks.
The two acquisition paths are extremely similar. In 2020, Lion Capital acquired the majority of Clarks' equity for 100 million pounds, and two years later, Extraordinary Leader Yue announced at a shareholder meeting that it had formally acquired Clarks through an increased holding. By January 2023, the Extraordinary Leader Area had become Clarks' largest controlling shareholder with a 51% stake.
From the 2023 financial report, Clarks brand revenue has become one of the most important sources of revenue for Extraordinary Leader Yue, accounting for as much as 86%. In the 2023 fiscal year, Clarks brand revenue was 9.646 billion Hong Kong dollars, a year-on-year increase of 79.1%.
As another brand acquired by Extraordinary Leader Yue, Bossini International's 2023 revenue was 610 million Hong Kong dollars, a year-on-year increase of 2.7%. In April of this year, the casual clothing brand Bossini International is accelerating its integration with the cycling brand bossini.X under the banner of Lei Feng Capital, and plans to add about 100 stores in mainland China by 2024 as part of its transformation.
As an international multi-brand operator, Extraordinary Leader Yue has a more complete business ecosystem and higher error tolerance rate. Compared with Li Ning, which has a revenue of over 27 billion yuan, the business volume of each brand is relatively small, which undoubtedly provides an ideal platform for Li Xiaoning to exercise his abilities. In order to cater to young people today, Extraordinary Leader Yue provides a larger space for the successor to play, and Li Xiaoning, born in 1995, may be able to fully display his abilities here.