中国健身风潮助李宁公司告别亏损

Li Ning, the Chinese sportswear brand, made a small profit last year, ending three years of annual losses.

中国运动服饰品牌李宁去年实现小额利润，结束了持续三年的年度亏损。

The company — a familiar name on the Chinese high street — reported net profit attributable to equity holders of Rmb14m ($2.2m), after a Rmb781m loss in 2014. Revenue grew 17 per cent to nearly Rmb7.1bn and the debt to equity ratio fell to 109.7 from 198.3 in 2014.

该公司（中国商业街上一个熟悉的品牌）报告，归属于股权持有者的净利润达到1400万元人民币（合220万美元），而2014年录得7.81亿元人民币亏损。营收增长17%，至近71亿元人民币，而负债与股权之比从2014年的198.3降至109.7。

Shares in Li Ning were up more than 7 per cent in Hong Kong yesterday morning before closing up 1 per cent.

李宁股价昨日上午在香港上涨逾7%，收盘上涨1%。

The brand, named after an Olympic gymnast, has struggled to shake off its reputation for cheap sports shoes. But over the past three years it has restructured, clearing out inventory at distributors, closing thousands of stores and increasing the percentage of directly run outlets and ecommerce sales.

以奥运会体操明星李宁命名的这个品牌，一直在艰难摆脱廉价运动鞋的名声。但在过去三年间，该公司进行了重组，清理了经销商的库存，关闭了数千家门店，提升了直接运营网点和电子商务销售的百分比。

In a filing to the Hong Kong stock exchange Li Ning said the rising popularity of sports and fitness on the mainland — amid “supportive” national policies — had helped retail, wholesale and ecommerce outlets to record double-digit revenue growth.

在提交给香港交易所(HKEx)的监管申报文件中，李宁公司表示，中国内地在国家政策的支持下，运动和健身日益流行，推动零售、批发和电商网点录得两位数的营收增长。

Li Ning, which is backed by private equity group TPG Capital and GIC, the Singapore wealth fund, had said in January it expected to break even.

背后有私人股本集团TPG Capital和新加坡政府投资公司(GIC)出资的李宁公司曾在今年1月表示，它预期实现盈亏平衡。

Ben Cavender of China Market Research said that while Beijing’s healthy living push had helped, Li Ning had done “at least some of the necessary work needed to optimise performance”.

中国市场研究(China Market Research)的本•卡文德(Ben Cavender)表示，虽然中国政府的健康生活宣传有所帮助，但李宁公司做了“至少一部分优化绩效所需的必要工作”。

Gross inventory fell 20 per cent as a net 300 direct points of sale were added.

总库存下降20%，同时净增300个直接销售网点。

“Running has become a craze among the increasingly affluent and health- conscious Chinese people,” Nielsen said in a recent report. “Consumers are willing to invest a lot in the sport.”

“在中国日益富裕和具有健康意识的人士中间，跑步已成为风靡一时的活动，”研究机构尼尔森(Nielsen)在最近一份报告中表示。“消费者愿意在这项运动上投入许多资金。”

Chen Ke, a Shanghai-based retail partner at Roland Berger, warned that competition was set to increase.

咨询公司罗兰贝格(Roland Berger)常驻上海的零售业合伙人陈科警告称，竞争势必会加剧。