Li Ning sees H1 loss of $100m

Chinese sportswear maker Li Ning Co Ltd said it made a first-half net loss of nearly $100 million as it soaked up one-off charges and the cost of opening more stores.

Li Ning said in a filing sent to the Hong Kong Stock Exchange on Thursday that its net loss widened to 585.8 million yuan in the first half of 2014 from a net loss of 184.2 million yuan in the same period a year earlier.

But the sportswear maker said first-half revenue rose 8 percent year-on-year to 3.14 billion yuan, helped by higher sales of new products as it expanded its chain of directly operated stores.