China Lilang 2025 Revenue Increased 11.5% Year-on-Year to 4.07 Billion Yuan

Chinese Li Lang releases full-year 2025 results. During the period, the group’s revenue increased by 11.5% year-on-year to 4.07 billion yuan, attributable net profit to shareholders was 500 million yuan, up 9.0% year-on-year; earnings per share were 41.96 cents, up 9.0% year-on-year.

The group’s gross profit margin was 49.6%, an increase of 1.9 percentage points year-on-year; net profit margin attributable to shareholders was 12.3%, a decrease of 0.3 percentage points year-on-year. The board recommends a final dividend of 13 Hong Kong cents per share, a special final dividend of 3 Hong Kong cents per share, bringing the total annual dividend to 32 Hong Kong cents per share, maintaining a stable payout ratio.

In terms of business operations, revenue from the main series grew by 6.0%, with initial results from the DTC model transformation; revenue from light business and other series increased by 28.4%, benefiting from higher sales per store and performance of new retail channels. As of the end of 2025, the group operated 2,817 stores, a net increase of 44; shopping mall and outlet stores increased to 1,135, with the company completing the recovery of first-level distribution rights in Shandong and Chongqing within the year. Revenue from new retail business grew by 25%, completing channel upgrades and expanding multiple online platforms.

Multi-brand and international expansion continued, with the Wanshengwei brand completed and the first physical stores opened; in Malaysia, four stores were established, completing an initial layout in the Southeast Asian market.

In 2026, the group plans to add 50 to 100 stores, focusing on quality shopping centers and outlets; aiming for over 15% sales growth in new retail, driving overall sales up by 10%; expanding Wanshengwei’s online and offline channels, establishing operations in the Philippines, and continuing to promote multi-brand and international strategies.