HONG KONG, March 24 Li Ning Co Ltd,
China's best known sportswear company, posted its second
straight year of losses in 2013, but the loss was narrower than
the previous year, thanks to fewer retail discounts, better
turnover of new products and faster inventory replenishment.
It posted a net loss attributable to equity holders of 391.5
million yuan ($63 million) for 2013, compared to a 1.98 billion
yuan loss in the year ago period.
But that lagged a forecast for a 364 million yuan full-year
loss, according to a Thomson Reuters' Starmine SmartEstimate.
Li Ning is backed by U.S. private equity firm TPG Capital
and Singapore sovereign fund GIC.
($1 = 6.2250 Chinese Yuan)
($1 = 7.7588 Hong Kong Dollars)
(Reporting by Donny Kwok; Editing by Edwina Gibbs)