LI NING (02331.HK) +0.160 (+1.229%) Short selling $148.92M; Ratio 25.367% announced its interim results for the six months ended June this year, with revenue of RMB14.345 billion, up 2.3% YoY. Net profit was RMB1.952 billion, down 8% YoY, giving an EPS of RMB75.8 cents. An interim dividend of RMB37.75 cents per share was declared, compared to RMB36.2 cents in the same period last year.During the period, net operating cash inflow lifted 40.6% to RMB2.73 billion. Gross profit margin increased by 1.6 ppts to 50.4%, net profit margin was 13.6%, and EBITDA margin was 24%. Overall retail sell-through (both online and offline) recorded a low single-digit decline. Channel inventory rose by mid-single digit YoY, while inventory turnover and ageing structure remained at a healthy level. New product offline retail sell-through recorded a mid-single digit decline.Related NewsCiti Adds LI NING (02331.HK) to Downside 30D Catalyst WatchFor 2Q24 ended June, LI NING's points of sale (POS), excluding LI NING Young, recorded a low single-digit YoY decline in platform-wide retail sell-through. In terms of channels, offline channels (including retail and wholesale) recorded a mid-single-digit decline, with the retail (direct) channel flat and the wholesale (franchised) channel recording a high single-digit decline, while the e-commerce virtual shop business recorded a high single-digit growth.As of the end of June, the number of LI NING's POS (excluding LI NING Young) in China totalled 6,239, representing a net increase of 25 compared to the end of the previous quarter and a net decrease of 1 year-to-date. Of the one net decrease, there was a net decrease of three in the retail business and a net increase of two in the wholesale business. The number of LI NING Young POS totalled 1,438, a net increase of 33 from the end of the previous quarter and a net increase of 10 year-to-date.LI NING did not buy back any of its shares during the first half.Related NewsCiti Downgrades TOPSPORTS, LI NING to Neutral w/ Lower TPs for Sportswears(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-09-11 16:25.)