Li-Ning reported its full-year 2023 performance on March 20. Revenue reached $4.35 billion (27.60 billion RMB), a 7% increase YoY, driven mainly by footwear and apparel sales. Domestic revenue remains dominant, comprising 98.07% of total revenue. Despite nearly 30 percent of revenue coming from e-commerce, Li-Ning has no plans to expand this further. However, net profit dropped by 21.6% to $0.50 billion (3.19 billion RMB) due to increased expenses, particularly in sales and distribution.