The Olympic "dragon suit" was complained about poor sweat absorption and stuck fart, and Li Ning's market value evaporated by more than 240 billion Hong Kong dollars in less than three years

Real estate K-line

2024-08-07 11:57Posted on the official account of Inner Mongolia Leju Finance

Rui Finance Deng Rufei reported on August 7 that during the 2024 Paris Olympic Games, many netizens paid attention to the fact that the Li Ning "dragon suit" worn by the Chinese national table tennis players was close to the skin due to sweat-absorbing performance problems, and some Chinese national table tennis players frequently adjusted their shorts, and even had an embarrassing situation of "stuck fart".

This detail quickly caused widespread discussion on the Internet, and in the face of public opinion, Li Ning's official customer service said that it was not clear about the specific situation and could not respond for the time being.

It is understood that Li Ning Company began to design team uniforms for the Chinese table tennis team in 2000, and the "dragon uniform" at the Paris Olympics is a fusion of traditional dragon elements and modern artistic techniques.

According to public information, the fabric of the "dragon suit" uses high-tech materials such as 3Dcoolmax and ATDRY fabrics, which help to quickly absorb moisture and keep dry, but there are also individual differences.

A staff member of a store in Li Ning said, "Tmall and Taobao are not part of Li Ning's official direct stores, and the clothes are not on the shelves." This dress is not sold in offline stores, but can be purchased in the "Li Ning Official Flagship Store" mini program.

According to Rui Finance, the "Li Ning Official Flagship Store" applet is available at a price of 599 yuan. In addition, the product information shows that the fabric is 90% polyester + 10% spandex.

From the perspective of performance, Li Ning's net profit attributable to the parent company last year fell for the first time in nearly five years. According to the data, from 2019 to 2023, Li Ning's net profit attributable to the parent company will be 1.499 billion yuan, 1.698 billion yuan, 4.011 billion yuan, 4.064 billion yuan, and 3.187 billion yuan respectively; The year-on-year increases were 109.59%, 13.30%, 136.14%, 1.32% and -21.58% respectively.

Competitors such as Xtep International, 361 Degrees, and Anta Sports will all achieve positive growth in net profit in 2023, with an increase of 12%, 29%, and 35% respectively.

In the secondary market, Li Ning's share price peaked at HK$106 on September 8, 2021, with a total market capitalization of HK$280 billion, and has since turned down. As of 9:42 on August 7, Li Ning's share price was HK$13.64 per share, down 87% from the historical peak, and the total market value has evaporated more than HK$240 billion in less than three years.

Related company: Li Ning HK02331

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