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Chinese Sportswear Giant Li Ning Sees First Half Net Profit Rise 187%

Li Ning's share price has gained 63 percent since the start of this year. Li Ning

For the first half of the year to June 30, Chinese sportswear giant, Li Ning saw revenue rise 65 percent year-on-year to 10.2 billion yuan ($1.57 billion) and net profit up 187 percent to 1.96 billion yuan ($302.56 million) according to an interim results report released Friday.

Chinese sportswear players have seen impressive growth in recent months, and have been helped by broader factors - including a boom in fitness-related categories in China, as well as a backlash against international brands (including Nike and Adidas) for their stance on sourcing cotton from the Xinjiang region.

Li Ning shares have gained 63 percent since the start of the year, giving it a market capitalisation of HK$215.7 billion ($27.72 billion)

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