| For Immediate Release |
Li Ning and CBA Signs Cooperation Agreement |
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(Hong Kong, 22 August 2017) Li Ning Company Limited (“Li Ning” or the “Company”; together with the subsidiaries, the “Group”; HKEx stock code: 2331) is pleased to announce today the Group formally signed a cooperation agreement with The Chinese Basketball Association (Beijing) Sports Co., LTD (“CBA Company”), extending their official strategic partnership. Both parties will join hands to promote the professionalization of Chinese Basketball League and the professional development of Chinese sports brand, and to achieve a win-win situation. The strategic partnership between the two companies began in 2012, the Group have since become the CBA League’s official strategic partner. The Group’s Founder and Executive Chairman, Mr. Li Ning and Chairman of CBA, Mr. Yao Ming attended today’s signing ceremony of cooperation agreement.
The Group have maintained its professionalism over the years and have been striving for deep cultivation of the sports industry and sporting goods market. Under the partnership, both companies will jointly promote the sustainable development of top Chinese Basketball Leagues, and facilitate the continuous improvement and breakthrough of Chinese basketball sports. In the new cycle of cooperation, the CBA League will serve as a crucial part of the Group’s growth strategy for the basketball segment and the Group will also fully support the CBA League in terms of sports gear and other areas. The Group’s continuous investment in the basketball segment not only have brought new breakthrough to its accumulation of sports assets, but also have further consolidated the Li Ning brand’s professional image and its leading position in the basketball market. Under the cooperation framework for the new cycle, the Group and the CBA Company have expanded their official strategic partnership. Both companies agreed to establish a more stable and long-term collaborative relationship that would bring better growth prospects for both parties and they will adopt a more flexible and open approach towards the execution. Apart from the CBA League, the Group have also reached cooperation agreement with the WCBA for the upcoming season. For inquiries, please contact iPR Ogilvy & Mather |
