Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

LI NING COMPANY LIMITED

李 寧 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2331)

LATEST OPERATIONAL UPDATE

This announcement is made on a voluntary basis by the board of directors (the "Board") of Li Ning Company Limited (the "Company", together with its subsidiaries, the "Group") to provide the following operational update on the Group's business.

RETAIL SELL-THROUGH

For the first quarter ended 31 March 2021, the retail sell-through of LI-NING POS (exclude LI-NING YOUNG) for the overall platform increased by high-eighties on a year-on-year basis. In terms of channels, offline channel (include retail and wholesale) registered a low-eighties growth, with retail increased by low-nineties and wholesale increased by low-eighties; the e-commerce virtual stores business registered around 100% growth.

POS NUMBERS

As at 31 March 2021, the total number of LI-NING POS (exclude LI-NING YOUNG) in China amounted to 5,784, representing a net decrease of 128 POS since the beginning of this year. Among the net decrease of 128 POS, direct retail accounts for a net decrease of 24 POS, and wholesale accounts for a net decrease of 104 POS.

As at 31 March 2021, the total number of LI-NING YOUNG POS in China amounted to 1,015, representing a net decrease of 6 POS since the beginning of this year.

SAME-STORE-SALES (SSS)

Due to the COVID-19, all offline stores were closed during part of the first quarter of 2020. Hence, there is no store data to be reported under the SSS criteria during the first quarter of 2020 and the same period of 2021.

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The Company's shareholders and potential investors should note that this announcement is based on unaudited operational data of the Group and this data has not been audited or reviewed by Group's auditors. The data does not constitute, represent or indicate the full picture of the Group's total revenue or financial performance and the information contained in this announcement may be subject to change and adjustment.

The Company's shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

Li Ning Company Limited

Li Ning

Executive Chairman and

Joint Chief Executive Officer

Hong Kong, 19 April 2021

As at the date of this announcement, the executive directors of the Company are Mr. Li Ning, Mr. Kosaka Takeshi and Mr. Li Qilin. The independent non-executive directors of the Company are Mr. Koo Fook Sun, Louis, Ms. Wang Ya Fei, Dr. Chan Chung Bun, Bunny and Mr. Su Jing Shyh, Samuel.

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Li Ning Company Limited published this content on 19 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 April 2021 00:37:04 UTC.