Recently, Li Ning Co According to the announcement, the open rights issue has been successfully realized, financing 1 billion 554 million Hong Kong dollars (before deducting expenses), and the public offering of shares has been oversubscribed, involving an amount of HK $2 billion 319 million, equivalent to 1.49 times the planned share allotment.

Before the issue of rights issue, Lining has issued an early warning of performance, which is expected to be no more than 820 million yuan in 2014. Since the announcement of the change plan in 2012, it has not been able to make profits for 3 consecutive years. Obviously, the pressure of performance has not dispelled the enthusiasm of large oversubscriptions.

At the end of January, Lining carried out the organizational restructuring and deployed the "vertical integration" core category business cluster, announces that the strategic change and adjustment over the past two years have basically ended, and the new business model has been largely shaped. Prospective capital markets are accustomed to voting with feet, and this round of financing is a positive sign.

　　 "Trinity"

In 2012, sustained high growth. Sports goods in China Industry ushered in inflection point, sales generally declined, high inventory. The crux of the problem lies in its wholesale mode of business. People in the industry have described the traditional business practice so that they can plan their future sales in advance 18 months, organize orders, get orders, organize production, and deliver orders. "If business is done, they can report directly to HKEx on their sales performance."

Consumer demand has undergone tremendous changes, but extensive management can not keep pace with it. How to adapt to market evolution and find a business model that matches its own development gene becomes the key to the next round of growth advantage for Chinese sporting goods enterprises.

Lining's transformation is to change from traditional management mode to "business mode dominated by sports marketing, product and commodity retail operation". Specifically, it is around the popular sports such as basketball, running, badminton and so on, with competitive products to provide better sports experience for the sports crowd, so as to attract consumers to buy sports equipment, and create a closed loop of "product experience, sports experience and retail experience".

The business model based on experience has been verified successfully. The leading brand of global yoga and training category for women is Lululemon. Lulu lemon was founded in Vancouver in 2000. It was originally a small Canadian brand. Its market value is more than 9 billion US dollars, and its revenue in fiscal 2013 reached US $1 billion 600 million. One of the secrets of its counterattack is to interact directly with users and provide a high cost performance experience.

Lulu lemon products are the main products of yoga, with clear positioning, pursuit of comfort, sex appeal, and special functionality, which are very popular among female groups. Their stores offer many experience activities, such as weekend yoga courses, and even the display of shops can be incarnated as experience props to enhance interaction with users. At the same time, they sponsor many public participation activities. For example, in the Bryant Park in Manhattan, there are two open yoga courses sponsored by Lulu lemon every week. About 400 women take part in it. Many enthusiasts regard it as a way of life, not just a clothing brand.

Lining also emphasized that Brand experience In the "sports marketing, products, retail operation" to achieve: product development and design guidance from the sport and the needs of athletes themselves, in functional pursuit to meet the needs of product users; through competition and consumer experience and emotion into one, the brand image and product professional information into sports or sports experience; store retail operations and products and events or sports experience to improve retail experience to enhance business (shops and electricity providers).