李宁危局致命的定位（Lining a deadly location）.docVIP

李宁危局致命的定位（Lining a deadly location） Year on year decline of 65.19%, basic earnings per share of 0.367 yuan, in 2010, its earnings per share is still as high as 1.07 yuan. Li Ning Co at the results meeting that the companys performance and net profit decline is mainly due to dealers and retail terminal comprehensive discount rate and production costs rising impact. For the industry, Li Ning Co believes that Chinas sporting goods industry is still grim competition, still face pressure to rise costs. From the groups 2011 first, second and three quarters of the Lining brand ordering meeting, the third quarter showed a decline, reflecting the market environment this year is still arduous. The poor performance led to the abandonment of rating agencies, and Deutsche Bank in its research forecast Li Ning Cos earnings per share between 2012 and 2014 43% to 63%, and lowered its target price by HK $4.7. Barclayss report lowered Linings rating from neutral to underweight and lowered its target price from HK $6.50 to HK $2.70. These bad conditions, however, are not the main reason for Li Ning Cos decline. In fact, in the peripheral growth year on year, Li Ning Co in the three quarter of 2011 orders will be calculated according to wholesale price, the amount of its orders fell by about 14%, and orders decreased by 17%. Personnel upheaval After a number of executives have left, Zhang Zhiyong, chief executive of the company, resigned 11 years ago Li Ning Co in trouble, always someone to be responsible for. The man eventually landed on Zhang Zhiyong, the chief executive of the company, who has served Lining for 20 years and has been in charge of the company for 11 years. In July 5, 2012, Lining, founder and executive chairman of the board, announced that Zhang Zhiyong would resign as chief executive, and before the hiring of the new chief executive, Lining himself would be in charge of external affairs and relationships. Statistics show that in 1992, Zhang Zhiyong, 24, joined the Li