Li Ning Announces Changes in Director, CFO and Company Secretary

Li Ning, a major Chinese athletic company, has announced the changes in director, chief financial officer and company secretary.

Chong Yik Kay has resigned as an executive director and chief financial officer (CFO) of the company with effect from 1 November 2012, due to pursuit of his other career development. Chong confirmed that he has no disagreement with the board and there is nothing relating to his resignation that needs to be brought to the attention of the Hong Kong Stock Exchange (HKSE) or the shareholders of the company. He will remain with the company as an advisor.

The company has been in discussions with potential candidates for the new CFO. During the transition period, an advisor with over 20 years of operations experience, including serving as the CFO of a multinational company in China, will help to lead the finance function of the company.

Lee Hung has resigned as the company secretary of the company. She confirmed that she has no disagreement with the board and there is nothing relating to her resignation that needs to be brought to the attention of the HKSE or the shareholders of the company. Lee will remain with the company as an advisor.

Yim Wai Yin has been appointed as the company secretary of the company. She has over 20 years of company secretarial experience and is a fellow member of the Institute of Chartered Secretaries and Administrators (ICSA) and the Hong Kong Institute of Chartered Secretaries (HKICS).

At the request of Li Ning, trading in shares of the company has been suspended with effect from 9:00am 15 October 2012 pending the release of an announcement which is price sensitive in nature.

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