Chinese sportswear company Lining has announced its performance for 2010, stating that its total revenue increased by 13% year-on-year to CNY9.479 billion.
At the same time, the company's profit attributable to shareholders increased by 17.4% year-on-year to CNY1.108 billion, and its basic profit per share increased by 16.6% year-on-year to about CNY1.06. In 2010, the revenue growth of Lining was lower than the company's average compound annual growth of over 30% in the last ten years.
The company's announcement shows that during the year 2010, the revenue from its core brand Lining accounted for 92.1% of its total revenue. In addition, due to the rapid growth of badminton products, Lining's equipment products saw better performance among various products.
By region, Lining's revenue from eastern China markets accounted for 38% of the total, revenue from northern China accounted for 42.2%, and revenue from southern China accounted for 18.4. The ratio was respectively 39.2%, 41.2%, and 18.6% in 2009.
Though Lining adopted new logo and new slogan for the internationalization of its brand, the result is so far not satisfied. In 2010, the ratio of revenue from its overseas markets, mainly Southeast Asian markets, increased merely from 1% in 2009 to 1.4%.
By December 31, 2010, Lining had opened 7,915 sportswear retail stores, with a net increase of 666 stores in 2010.