Li Ning, which has experienced brand remodeling pain, is still uncertain in the new year. At the beginning of the Year of the Dragon, the company once again announced major layoffs, adjusted its organizational structure, and reduced personnel costs. Affected by this news, Li Ning, which was listed in Hong Kong, closed at 8.08 Hong Kong dollars on February 3, a sharp drop of 5.386%. Yesterday, Li Ning Company told this reporter that this adjustment includes streamlining personnel, but the exact number of personnel is not yet determined.
Li Ning Company announced on February 3 that the company will conduct adequate analysis and evaluation of existing brands and focus more on its core business. For large brands with development potential and large scale, they will further promote their healthy development, and small brands with business pressure will make corresponding adjustments and contractions. The company stated that this organizational adjustment is part of the Group's ongoing strategic change, aimed at optimizing the organizational structure, improving operational efficiency, and improving the level of net profitability.
Group Chief Executive Zhang Zhiyong stated: "In order to meet the Group's changes and the objectives of strategic implementation, the Group's ongoing organizational changes and personnel adjustment is a necessary step."
Regarding the specific arrangement of the personnel adjustment, Li Ning Company said in a written reply to the reporter yesterday that the adjustment includes: streamlining personnel, integrating resources, and motivating outstanding employees. However, the exact number of personnel is not yet determined, and the proportion will not be too high.
Li Ning said that the functional departments in the back office, including human resources, information technology, and strategic development departments, will adopt ways to optimize the organizational structure, reduce personnel costs, and increase operational efficiency.
Net profit last year or fell more than 50%
In January of this year, Li Ning released its 2011 performance estimate. Due to weak order growth and the recovery of some dealer stocks, the Group's revenue is expected to decline by 6%-7% from 2010.
The company's net interest rate will fall by about 7 percentage points from 11.7% in 2010 to 8 percentage points, to about 3.7% to 4.7%. Some analysis pointed out that based on this pure interest rate, Li Ning's net profit last year may fall by more than 50%. Li Ning's net profit in 2010 was 1.108 billion yuan.
Li Ning Company announced on February 3 that the company will conduct adequate analysis and evaluation of existing brands and focus more on its core business. For large brands with development potential and large scale, they will further promote their healthy development, and small brands with business pressure will make corresponding adjustments and contractions. The company stated that this organizational adjustment is part of the Group's ongoing strategic change, aimed at optimizing the organizational structure, improving operational efficiency, and improving the level of net profitability.
Group Chief Executive Zhang Zhiyong stated: "In order to meet the Group's changes and the objectives of strategic implementation, the Group's ongoing organizational changes and personnel adjustment is a necessary step."
Regarding the specific arrangement of the personnel adjustment, Li Ning Company said in a written reply to the reporter yesterday that the adjustment includes: streamlining personnel, integrating resources, and motivating outstanding employees. However, the exact number of personnel is not yet determined, and the proportion will not be too high.
Li Ning said that the functional departments in the back office, including human resources, information technology, and strategic development departments, will adopt ways to optimize the organizational structure, reduce personnel costs, and increase operational efficiency.
Net profit last year or fell more than 50%
In January of this year, Li Ning released its 2011 performance estimate. Due to weak order growth and the recovery of some dealer stocks, the Group's revenue is expected to decline by 6%-7% from 2010.
The company's net interest rate will fall by about 7 percentage points from 11.7% in 2010 to 8 percentage points, to about 3.7% to 4.7%. Some analysis pointed out that based on this pure interest rate, Li Ning's net profit last year may fall by more than 50%. Li Ning's net profit in 2010 was 1.108 billion yuan.
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