TPG-backed Li Ning posts first half loss
Li Ning, the Chinese sportswear retail group backed by GIC Private and TPG Capital, has reported a net loss of RMB184 million ($30 million) in the first six months of this year, compared with a RMB44.3 million profit in the first half of last year.
Sales in the period fell 24.6% to RMB2.91 billion from the same period a year earlier, according to a regulatory filing. The company lost RMB1.98 billion ($323 million) last year. "We have achieved what...
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