LI NING (02331): E-commerce virtual store business achieved high single-digit growth in the third quarter

LI NING (02331) announces that for the third quarter ended September 30, 2026, the retail sell-through of LI NING sales points (excluding LI NING YOUNG) across the entire platform recorded a low single-digit decline year-on-year. By channel, offline channels (including retail and wholesale) recorded a mid single-digit decline, of which the retail (direct operation) channel was flat, and the wholesale (franchised distributor) channel recorded a mid single-digit decline; the e-commerce virtual store business achieved high single-digit growth. As of September 30, 2026, in China, the number of LI NING sales points (excluding LI NING YOUNG) totaled 6,099, a net increase of 36 from the end of the previous quarter and a net increase of 8 year-to-date. Among the net increase of 8 sales points, the retail business recorded a net decrease of 61, while the wholesale business recorded a net increase of 69. As of September 30, 2026, in China, the number of LI NING YOUNG sales points totaled 1,491, a net decrease of 25 from the end of the previous quarter and a net decrease of 27 year-to-date.