| (For Immediate Release) |
Li Ning Acquires Famous Badminton Brand "Kason" to Step up the Development in Badminton Category |
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(6 July 2009 - Hong Kong) Li Ning Company Limited ("Li Ning" or the "Group"; HKSE stock code: 2331), one of the leading sports brand enterprises in China, announces that the Group acquired all the issued capital of Kason Sports (Hong Kong) Limited ("Kason") for a consideration of RMB 165 million. Kason is principally engaged in the reseach and development, manufacture and sale of professional badminton equipment under the "Kason" brand such as rackets, strings, apparel, footwear and accessories. The "Kason" brand was established in 1991 and is one of the top 3 badminton equipment brands in China. This acquisition forms an integral part of the Group's strategy of expanding into the badminton sport. It came after the Group signed earlier its sponsorship agreement with the Chinese National Badminton Team and the successful conclusion of LI-NING Suderman Cup 2009 in Guangzhou. Mr. Zhang Zhi Yong, Chief Executive Officer of the Group said, "This acquisition not only combines Kason's leading manufacturing techniques as well as research and development capabilities with the Group's core competencies, it also fully utilizes our mutual advantages in sports marketing resources, enabling the Group to swiftly gain the market share in the badminton category." Commenting on badminton, Mr. Zhang added, "Badminton is one of the most popular sports in China. According to a survey conducted by China's General Administration of Sports, badminton ranks second in terms of participation in China. It is also one of the sports with the fastest growth. In addition, China is one of the strongest nations in badminton. We have numerous world champions and Olympic Gold medalists. Badminton will become a key category in our future strategic plan." For further information, please contact: |