Li Ning says 2020 will be more profitable, even as coronavirus pandemic defers Tokyo Olympics and keeps shoppers away

Li Ning Company Limited, the eponymous sportswear brand by China’s best-known Olympic gymnast, said it is on track to improve its 2020 profit margin by 1.4 percentage point, even if the coronavirus pandemic has kept shoppers from stores and forced large sports events to be postponed or cancelled.The Beijing-based producer of sports shoes and apparel forecasted a 2020 profit margin of 10.5 per cent on the back of a bumper year in 2019, during which revenue beat estimates and rose 32 per cent to…