Agenda

SummaryofIncomeStatement

ProfitMarginsandExpenseRatios
1H2011 1H2010
Forthesixmonthsended30June

Change

GrossProfitMargin OperatingProfitMargin Marginofprofitattributabletoequity holders R&DExpenses(as%ofrevenue) A&PExpenses(as%ofrevenue) HumanResourcesCosts(as%of revenue) EffectiveTaxRate

47.3% 10.3% 6.8% 2.6% 15.9% 8.7% 24.8%

47.9% 18.1% 12.9% 2.5% 13.2% 7.7% 25.0%

0.6p.p. 7.8p.p. 6.1p.p. +0.1p.p. +2.7p.p. +1.0p.p. 0.2p.p.

KeyOperationalIndicators
1H2011 1H2010
Forthesixmonthsended30June

Change

InventoryTurnover (Days) AverageTradeReceivablesTurnover (Days) AverageTradePayablesTurnover(Days) CashConversion Cycle(Days)

72 63 91 44

48 48 70 26

24 15 21 18

ReturnonEquity(ROE)halfyearly ReturnonAsset(ROA)halfyearly CAPEX*(RMBmillion)

*Excludingacquisitionexpenditures 5

8.6% 4.4% 150.7

20.3% 10.4% 74.0

11.7 p.p. 6.0 p.p. +103.7%

HealthyBalanceSheet

*NetCash=CashandCashEquivalents BankBorrowings

LININGBrandRevenueBreakdownby ProductCategory
LININGBrandRevenueBreakdown byProductCategory RevenuefromLININGbrand totheGroupTotal

1H2011
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1H2010

1H2011

1H2010

LININGBrandRevenueBreakdown byGeography
International Market
1.7% 1.7%

Northern
43.6% 43.6% 6.0%

Eastern Southern Domestic Market

98.3% 98.3% 19.8% 19.8% 5.3% 34.9% 34.9% 12.1%

%ofTotal %ofTotal

Change

DiagnosingtheSportingGoodsIndustry andtheGroup
Facedwithchallengesandopportunitiesduringtheindustrytransformationperiod, theGroupproactivelyinitiatesreforms Intensifyingcompetition Costpressurethrough thewholevaluechain ProblemstheGroupisfacing: Subdistributors operatingefficiencyisratherlowinthelowendmarket Inventoryattheretailend Productsinthemiddletolowpricebracketfailedtooffernoticeablybettervalueforthemoney
Shorttermpains Changestaketimetoreflectonthe Groupsperformances

Industrymaintains doubledigitgrowth 2012LondonOlympics

Consumers increasingdemandfor brandexperienceandsport functionalitydespitecompetitionfrom casualwearbrands

Shorttermstrategies
Speedupinventoryclearanceattheretailend Adjustwholesalediscountratefrom2011toallowbetter profitabilityforthedistributors/subdistributors,andpressahead withthereforminsubdistributionmarketstoincreaseefficiency Strengthenbrandpromotionsandexecutionofcreativity conversion,leveragingsponsoredresourcesofChineseNational Teams,integratemedia,theinternetandPRpublicityresourcesto heightentheassociationbetweenLININGbrand'sDNAand China'schampionathletesinanefforttostrengthenbrandequity Improveproductdesignanddevelopmenttoofferbettervaluefor moneyproductsinthemiddletolowpricerangetodrivesales volumegrowth
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Sustainingstrategies
Differentiatebasedonsportsmarketingandbrandpositioning, Furtherpromotechannelconsolidation Emphasizeproductinnovation,enhancecompetitiveedgesof productspricedaboveRMB400 Furtherstrengthensupplychainmanagementtoexploitbetter economiesofscalesandincreaseflexibility

ShorttermStrategies ChannelReforms
Statusofimplementationduring1H2011 Storenumbergrewasplanned.Revenue contributionfrominventoryclearancechannels comprised10%ofretailrevenue Offereddistributorsanadditional3percentage pointsonwholesalediscountrates Consolidationoflowefficiencysubdistributors progressedasplanned Objectives Targettoconsolidate400lowefficiencysub distributorsbyend2011 Rationalizestorestructure,aimingatderiving15% oftheGroupsrevenuefromclearanceoutletsby mid2012 Targettobringinventorylevelbacktonormallevel in2012

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ShortTermStrategies Branding
AdvertisingandMarketingEvents TheStrongerYouAre,TheStrongerI Become basketballproductsseries NewgenerationofUltralightrunning shoes HERO topnotchbadmintonshoes LININGBOWantishocktechnology promotion

SportsEventMarketing
14thFINAWorldChampionships SudirmanCup SingaporeOpen BeijingMarathon NationalBasketballLeague The51st RotterdamWorldTableTennis Championships

MarketingPromotionEvents

LININGHeroVans LININGiRUNrunningclub

Objectives
Optimizethebrandingstrategiesmanagementsystem LeveragetheGroupsexistingresourcestostrengthenitsbrandingexecutionand accuratelycommunicatethebrandspositioning Reinforceandstrengthenthebrandsinfluenceinsecond andthirdtiercities

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BrandStrength
BrandZTop50 Most Valuable Chinese Brands Inthetop20onBestChinese Brands2010 listissuedbyForbes ChinaandInterbrand
Track&Field/Running Basketball OlympicChampion Teams

AnAllStarCastof Professional SponsorshipResources

Tennis Womens Fitness Football

Badminton Topnotch sports teams/ athletes/ sportsclubs

ChineseNational BadmintonTeam LinDan

ElenaIsinbayeva AsafaPowell AndreasThokildsen

BaronDavis JoseCalderon EvanTurner SpanishNational BasketballTeam ArgentinaNational BasketballTeam NBL LININGBasketball DraftCamp

ChineseNational TableTennisTeam ChineseNational DivingTeam ChineseNational ShootingTeam ChineseNational GymnasticsTeam

MarinCilic IvanLjubicic PengShuai YanZi TianjinTennis Team

Lesmills

RCD Espanyol Sevilla

Tournament

ChinaOpen ChinaMasters ChinaBadminton ClubSuperLeague ChinaNationalCup SingaporeOpen ShanghaiTeam BayiTeam GuangdongTeam SingaporeTeam AustralianTeam BoonsakPonsana

BeijingMarathon

ATP

CUFL

Other important sponsorship resources

12provincialteams

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ChineseNational YouthOlympics3 on3Basketball Team ChineseNational Mensand WomensYouth BasketballTeam

USDivingTeam

TsungHua Yang ZhengSaisai Pliskova Sisters

Nirvana Yoga CSIBally Physical Clubof Shenzhen

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ShortTermStrategies Product
Adjustpricingstrategyto meetconsumers needs,focus moreonbettervaluefor money Analyzeandfinetune productpricingstructure Inproductplanning,from 2012Q1,increasethe proportionofGOOD Level productswhich offerbettervaluefor money Driveapplicationofproduct technologyplatformsand establishmentofproduct family LININGBOWtechnology platform AT technologyplatform Ultralightrunningshoes series Rolloutproductwithinnovative conceptandChineseelements Topnotchproductsfor professionalsponsorshipsto driveLININGbrands professionalimage HERO shoesforLinDan JavelingearforAndreas Thorkildsen Polevaultshoesand apparelforElena Isinbayeva ProfessionalgearforAsafa Powell

BrandnewMIX lightweightsportsshoes ChineseconceptSpecial mortiseandtenon structure Theme:Bothstylishand ecofriendly YushuaiVIbasketball shoes Chineseelement: splashinginkstyle Theme:Inheritanceand innovation

Objectives Improveproducttomeetconsumers needswhilealigningwithLININGsbrandpositioningandDNA Strengthendesignanddevelopmentofproductsinthemiddletolowpricebracket

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SupplyChainManagement

Exercisedcontroloncoststabilityand management Jingmenproductionfacilitiesreacheda sizablescale ConstructionofJingmenLogisticsCentre withtrialrunsscheduledfor1H2012

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OtherBrands

StrongR&Danddesign capability.Rolledoutmore than150newproductsin1H 2011

Growingbrand awareness PersistentSSSgrowth

andDHSfootwear/apparel
Drivedifferentiationin integratedmarketing strategiesandproduct Adjustfurthertheoverallproductstructureand operationmodelinordertomeetconsumerneeds atthehypermarketsegment GetpreparedfortheintroductionofDouble Happinessapparelandfootwearproductstotapinto hypermarketsandmid tolowtiermarkets

Continuedenhancementin brandpositioning,product structure,R&Dandsales channel

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AdheretoLongTermStrategies
Strictadherencetobrandpositioningandessenceofsports Fusebrandpositioningandeffectiveuseofsportsmarketingresources toachievebranddifferentiation Ensurecreativityisconvertedintoeffectivecommunication,highlight brandpersonalityandaccentuateChineseconcept Pressaheadwithdistributionchannelreformsandstrengthen distributor/subdistributorsmanagementcapability PursueanSSSGledgrowthmodel Exercisebettersellthroughmanagementtodrivesellingrowth PersistentimprovementinproductR&Danddesign Makebettervalueformoneyastrategicpriority Enhancesupplychainefficiency Deliverbettereconomiesofscalefromsupplychainandincrease flexibility

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Outlook
LowdoubledigitindustrygrowthforFY2011 Extraboostinindustrygrowthin2012ledbyOlympics Intensificationinindustrycompetitionandcostescalation Undergoaperiodoftransformationinnext23years

Grossprofitmargintodecreasefurtherin2H2011 Marginofprofitattributabletoequityholderstodecreaseby12pp forFY2011

Yearended2011:8,300 stores Yearended2012:8,650 stores Yearended2013:9,000stores

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Vision,MissionandCoreValues

Aworldleadingbrandinthe sportinggoodsindustry

Throughsports,weinspire peoplethedesireandpower tomakebreakthroughs

LiveforDream
Breakthroughs Consumeroriented Integrityandcommitment Achievingexcellence We Culture

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InvestorRelationsContacts

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Disclaimer
This presentation incorporates information contained in the interim results announcement(theResultsAnnouncement)fortheperiodended30 June 2011 of Li Ning Company Limited (the Company). This presentation should be read in conjunction with the Results Announcement and is qualified in its entirety by the more detailed information and financial information contained in the Results Announcement. Other than the information contained in the Results Announcement, you may not reproduce or distribute this presentation, in whole or in part, and you may not disclose any ofthe contents of this presentation or use any information herein for anypurposewithouttheCompanyspriorwrittenconsent.Youherebyagreetothe foregoingbyacceptingdeliveryofthispresentation. The contents of this presentation have not been reviewed or approved by any regulatory authority in Hong Kong or elsewhere. The contents of this presentation are not investment, legal or tax advice. You are advised to exercise caution in perusingthecontentsofthispresentation.Ifyouareinanydoubtaboutanyofthe contentsofthispresentation,youshouldobtainindependentprofessionaladvice.

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