According to Li Ning released the financial report for the first half of 2022 on Aug 12. The revenue rose 21.7% year on year to 12.409 billion yuan, and the gross profit rose 8.8% year on year to 6.2 billion yuan in the first half of this year.

The financial report said that the impact of repeated COVID-19 and the costs sharp rising of raw material, and the business environment are certain to be challenged to the group, but the revenue still rose 21.7% to 12.409 billion yuan, the improvement of business efficiency has offset the negative impact of the pandemic.

Li Ning said the growth of revenue attributes to the development of the sports industry and more participation in sports continues to rise. Data show that the sports shoes and apparel market has grown to 385.8 billion yuan in 2021, and is expected to reach 598.9 billion yuan by 2025.

With the rise of the national brands, the competition between national brands and foreign brands become more and more intensifying. On the high end domestic market, it is dominated by foreign brands such as Nike and Adidas,but with increasing influence of national brands, such as Anta, Li Ning, XTEP and so on, their market shares continues to rising.

According to a survey data, 78.1% of Chinese consumers like to buy nationa lsports brands, the most favorable national brands are Anta, Li Ning and Erke.