Li Ning statement on departure of management staff

In relation to recent media reports concerning the departure of certain management staff, Li Ning Company Limited wishes to make the following statement:

In the recent two months, these three staff resigned from their respective positions with the Group to pursue their personal interests. Their departure constitutes normal changes to the Group's management staff.

The Group has always placed strong emphasis on the soundness of its organizational structure to ensure the stability of its operations. All the strategies and operations that the Group is carrying out will not be affected by the departure of individual employees.

In addition, the Group has a rich talent pool and a suitable organizational structure to meet the Group's business development needs. The management will continue to focus on the Group’s future developments and the implementation of strategies to improve the Group’s business performances.

Li Ning Company Limited is one of the leading sports brand enterprises in the PRC, possessing brand marketing, research and development, design, manufacturing, distribution and retail capabilities. The Group's products mainly include footwear, apparel, equipment and accessories for sport and leisure uses under its own LI-NING brand.