Li Ning : LATEST TRADE FAIR ORDERS AND OPERATIONAL UPDATE

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LI NING COMPANY LIMITED 李寧有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2331)

LATEST TRADE FAIR ORDERS AND 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.

TRADE FAIR RESULTS

Trade fair orders, in terms of tag price, for LI-NING brand products (exclude LI-NING YOUNG) from franchised distributors registered year-on-year growth for eighteen consecutive quarters. The orders from the latest trade fair, which are for the fourth quarter of 2018, held in March this year registered low-teens growth on a year-on-year basis.

SAME-STORE-SALES

For the quarter ended 31 March 2018, in respect of LI-NING Point-of-Sales (POS) which have been in operation since the beginning of the same quarter last year, the same-store-sales for the overall platform registered a low-teens increase on a year-on-year basis. In terms of channels, retail (direct operation) and wholesale (franchised distributors) registered a low-teens growth and mid-single-digit increase respectively, while the e-commerce virtual stores business registered a high-thirties growth.

RETAIL SELL-THROUGH

For the quarter ended 31 March 2018, the retail sell-through of LI-NING POS for the overall platform increased by mid-teens on a year-on-year basis. In terms of channels, offline channel (include retail and wholesale) registered a low-teens growth, with retail increased by low-twenties and wholesale increased by high-single-digit; the e-commerce virtual stores business registered a high-thirties growth.

POS NUMBERS

As at 31 March 2018, the total number of LI-NING POS in China amounted to 6,730, a net decline of 66 POS since the beginning of this year (the Company took over distributors from the third party at 1 January 2018, account for 361 stores). Among the net decrease of 66 POS, LI-NING YOUNG account for a net increase of 27 POS, direct retail and wholesale accounts for net decrease of 47 and 46 POS respectively.

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 Interim Chief Executive Officer

Hong Kong, 23 April 2018

As at the date of this announcement, the executive director of the Company is Mr. Li Ning. The non-executive director of the Company is Mi 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.