Li Ning Earmarks Billions For Inventory Repurchasing

Date:2011-08-26     Source:dongyuyulile  Text Size:

Thursday 2011-08-25 
August 25 – Li Ning (2331.HK) will spend no more than 300 million yuan to repurchase inventory from distributors, reports, citing company CEO Zhang Zhiyong.

The sportswear maker spent 100 million yuan in repurchases during the first half of 2011, with another 200 million yuan earmarked for similar purchases for the remainder of the year.

The repurchased inventory will be sold at factory outlets. The Li Ning will have an additional 40 million in cash inflows once it reduces inventory turnover by one day. As of June 30, Lining had a total of 191 factory outlets with monthly sales of 400,000 yuan.


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