According to documents filed with the Hong Kong Stock Exchange, BlackRock, one of the world’s largest asset management companies, increased its stake in Li Ning by approximately 13.24 million H-shares on December 25, 2024, raising its ownership from 4.55% to 5.06%. Li Ning Group recently announced the formation of a joint venture through its wholly-owned subsidiary LN Co with Founder Co, HongShan Venture, and HongShan Motivation. The venture aims to develop and operate the Li Ning brand outside mainland China, including the sale of Li Ning products. Li Ning Group and founder Li Ning collectively hold a 55% stake in the joint venture, ensuring the brand’s reputation and maintaining significant influence over its operations.