Li Ning Still Has Room For Growth

　　 Li Ning The blueprint for change is announced and will be implemented in three phases. In the first stage, focus on retail sales and inventory issues, improve product and operating costs, strengthen organizational and executive capabilities, improve channel efficiency, profitability and performance, focus on core products and domestic markets, strengthen brand investment and improve marketing efficiency.

The second phase (2013-2014) plan is already in the pilot stage, including improving supply chain management, marketing and product planning models; providing more products and customer experience for China Sporting goods industry Market position.

The third stage (in the next two to four years) will focus on the transformation of business model to improve the profit structure of the company and channel, to better meet the market demand in terms of product and consumer brand experience, improve retail efficiency, and create a virtuous circle in terms of cash and return on investment.

Mr. Su has been appointed as the chief executive officer of the company, but Mr. Su has been appointed as the chief executive officer of the company. The company also announced a three-stage future development plan, which does not exclude the possibility of fund-raising in the future.

Li Ning announced today that CEO Zhang Zhiyong has retired from office on July 4 and will no longer be a member of the Executive Committee of the board of directors. However, he will continue to serve as the group's executive director and the chief adviser of the group's executive members to ensure a smooth transition of the company's management before the new CEO takes office.

Before the appointment of the new CEO, the company's business will be led by founder and executive chairman Li Ning and executive vice chairman Jin Zhenjun, who will focus on external relations, while Jin Zhenjun will be mainly responsible for the internal affairs and operations of the group, the company said.

Li Ning's board of directors also appointed Su Jingshi as an independent non-executive director. Su Jingshi, chairman and CEO of the China business unit of yum, a catering group, has more than 20 years of management experience in China's leading consumer and retail chains. The company said that Su's participation would enhance the board's experience in China's consumer and retail markets.

In addition, the company also announced three stages of future development plan, hoping to improve channel inventory and build a reasonable cost structure Strengthen the construction of organization execution ability and core brand to improve the profitability. Vice president Jin said that the achievements of the three-year plan will be reflected in the next three stages.

Today, Li Ning announced in the Hong Kong stock exchange an adjustment plan for its senior management team. Zhang Zhiyong, the former chief executive officer, resigned from his post on July 4. Jin Zhenjun, a partner of TPG, served as the executive director and executive vice chairman of the company. Su Jingshi, chairman of the China business unit of Yum Brands Group, was appointed as the independent non-executive director of the company. Before the appointment of the new CEO, Li Ning Company will be established by the founder Vice president and executive chairman.

Li Ning company said in the announcement that Mr. Zhang Zhiyong has retired as the chief executive of the group since July 4, 2012. The board thanks Mr. Zhang for his efforts to lead the group to become a leading sports brand in China. The board of directors and Mr. Zhang agreed that it was the right time to introduce a new management team for the next stage of the group's development.

Li Ning company announced that Mr. Zhang Zhiyong will no longer be a member of the Executive Committee of the board of directors. He will continue to be the executive director of the group and the chief consultant of the group's Executive Committee, so as to ensure a smooth transition of the company's management before the arrival of the new chief executive. Prior to the appointment of the new CEO, the group will be led by Mr. Li Ning, founder and executive chairman, and Mr. Jin Zhenjun, executive vice chairman.

Li Ning's board of directors also appointed non-executive director Jin Zhenjun as executive director and executive vice chairman of the company, and Su Jingshi as independent non-executive director. Jin Zhenjun is a partner in TPG, a global private investment firm, and a member of the company's operations team. Su Jingshi is the chairman and chief executive officer of China business unit of Yum Brands (including pizza hut, KFC, Taco Bell and little fat sheep).

Li Ning, founder of Li Ning company, said, "the announcement we issued today is the result of the efforts made by the board of directors and the management after listening carefully to the opinions of all parties inside and outside the company for many months, assessing the current business situation of the company, including the internal and external challenges we are facing, and considering the medium to long-term outlook of the company. The board of directors unanimously supports the new leadership team and is confident that the proposed measures will drive the group in the right direction and return to the track of sustained profit growth. "

Li Ning also announced in the announcement that it plans to formulate three-stage measures to improve the company's overall performance and growth momentum.

Zhong Yiqi, chief financial officer of Li Ning, said that the company has no fund-raising plan at present, and will wait and see the overall development of the company before deciding. Jin Zhenjun, vice chairman of Li Ning, who is also a partner of TPG, said that TPG would increase its capital if Li Ning needed funds.

Li Ning announced the three-stage future development plan today. Jin Zhenjun, vice chairman of the company, said at a press conference that the top priority of this year is still to reduce inventory. The company has taken measures earlier, but the effect is slower than expected because of the overall problem of the industry. The company will continue to clear inventory through price reduction this year, hoping to become the first company in the industry to improve the inventory level, and hopes that in the next 6-12 months, the company's inventory can be reduced to near healthy level. In terms of stores, he stressed that it was not just about closing and opening stores, but on operation and store location.

Jin Zhenjun said that the implementation process of the plan will be very difficult and the profit will not be ideal. Earlier, the company issued a warning on the performance of the first half of the fiscal year. Regarding the situation in the second half of the year, Zhong Yiqi, the company's chief financial officer, said that the data of the fourth quarter ordering meeting published earlier had not improved. However, Li Ning is still pessimistic about the market of sports goods in China.

Li Ning, chairman of Li Ning, said that the market is pessimistic about the industry, but he believes that there is still a lot of room for growth in China's sporting goods market. He believes that China's continuous urbanization process in the future will bring business opportunities. Focusing on the company's core market approach, he said. In addition, vice chairman Jin Zhenjun said that the company hopes to achieve success in the Chinese market first. For overseas and other opportunities, the company will also consider, but will not become the focus of the company.