Li Ning Co Ltd (Li Ning) designs, manufactures, markets, and distributes sports goods. The company provides a wide range of footwear, apparel, equipment and accessories for sport and leisure use. The company also manufactures, develops, markets, distributes, sells various sports products which are self-owned by or licensed to the Group, including Double Happiness, AIGLE and Kason. The company serves the sports industry, focusing on segments such as running, basketball, training, badminton, table tennis, and sports casual.

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Li Ning consistently regards technological innovation as the core engine driving high-quality development. The company has established a technical platform comprising two major pillars: scientific research and sports science studies. Throughout the year, Li Ning Co Ltd leveraged its proprietary research and development strengths while strengthening academic research collaborations. This multifaceted approach enhanced the technological application capabilities of professional products across diverse scenarios, empowering both professional athletes and consumers to continuously refine their skills in the training field and achieve extraordinary results in competitions. The company unveiled the "Super BOOM Capsule" midsole cushioning technology, achieving a breakthrough experience characterized by "High Rebound, Fast Rebound, and High Durability." Additionally, Li Ning Co Ltd advanced aerospace technology-driven sports innovation by integrating aerospace technology into its professional sports gear and systematically pursued technological innovation in the outdoor sector. Li Ning R&D activities are managed through a technical platform comprising two major pillars: scientific research and sports science studies. The role of this platform is to enhance the technological application capabilities of professional products, empowering both professional athletes and consumers. In FY2025, the company incurred expenses of CNY702.1 million on R&D activities, which as a percentage of revenue stood at 2.4%.