Latest news with #156
TimesLIVE
22-05-2025
- Automotive
- TimesLIVE
Xiaomi founder expects new electric SUV to hit market in July
Xiaomi's new electric SUV, the YU7, is expected to enter the market in July, founder and CEO Lei Jun said in a Weibo post on Thursday. The world's third-largest smartphone maker will launch its second EV model later on Thursday. Xiaomi will not disclose the official prices for the YU7, nor commence taking pre-orders for the new car at the pre-launch event, Lei said in the post. The company will also unveil its self-developed XringO1 advanced mobile chip, new flagship smartphone and other products. The new SUV is being positioned as a key competitor to Tesla's best-selling Model Y. The redesigned Model Y, launched earlier this year, is priced from 263,500 yuan (R657,156) in China.
Borneo Post
20-05-2025
- Borneo Post
Cops nab man, seize drugs worth over RM30,000 at Sibu entertainment centre
Drugs seized during the early morning raid at the entertainment centre in Lorong Langsat in Sibu yesterday. SIBU (May 20): Police have arrested a 41-year-old local man and seized various types of drugs worth over RM30,000 during a raid at an entertainment centre in Lorong Langsat here early yesterday morning. The operation, which took place at around 1.45am, was carried out by personnel from the Sarawak Police Contingent Narcotics Crime Investigation Department, alongside their counterparts from the Sibu District Police Headquarters. Sibu district police chief ACP Zulkifli Suhaili said during the inspection, police found 54 small plastic packets containing suspected ketamine weighing 58.04g, nine foil boards with 84 Erimin 5 pills, and 13 transparent packets containing multi-coloured pills believed to be ecstasy weighing 170.88g. 'The estimated total value of the seized drugs is RM30,156,' he said in a statement today. Zulkifli said a urine screening on the suspect returned positive for multiple drugs, namely methamphetamine, amphetamine, and ketamine. 'A background check revealed the suspect has no previous drug-related offences,' he added. Zulkifli said the suspect has been remanded for six days to assist in the investigation under Section 39B of the Dangerous Drugs Act 1952 for drug trafficking. He reminded the public that police will continue to monitor entertainment outlets and take stern action against individuals involved in drug distribution and abuse. arrest Lorong Langsat drugs lead Sibu Zulkipli Suhaili
Associated Press
28-03-2025
- Business
- Associated Press
Li Ning Company Limited Announces 2024 Annual Results
Strengthen the 'Single Brand, Multi-Categories, Diversified Channels' Strategy | Solidify Brand and Product Competitiveness, Ensure Steady Operations, and Achieve Pragmatic Growth HONG KONG SAR - Media OutReach Newswire - 28 March 2025 - Li Ning Company Limited (the 'Company' or 'Li Ning Company"; together with the subsidiaries, collectively, the 'Group"; stock codes: 2331 (HKD counter) and 82331 (RMB counter)) announces today its 2024 annual results for the year ended 31 December 2024 (the 'Year'). Financial Results In 2024, the Group's annual performance was generally in line with expectations, a result of robust operational resilience and effective strategic execution. During the Year, the Group's revenue amounted to RMB28,676 million, representing an increase of 3.9% as compared to that of 2023 (2023: RMB27,598 million). Gross profit amounted to RMB14,156 million, representing an increase of 6.0% compared to that of 2023(2023: RMB13,352 million). The overall gross profit margin increased by one percentage point to 49.4%(2023: 48.4%). During the year, the net profit attributable to equity holders was RMB3,013 million (2023: RMB3,187 million). The margin of net profit attributable to equity holders was 10.5% (2023: 11.5%). Return on equity attributable to equity holders was 11.9% (2023: 13.1%). Basic earnings per share was RMB116.98 cents (2023: RMB123.21 cents). The Board has recommended the payment of final dividend of RMB20.73 cents per ordinary share for the year ended 31 December 2024, together with the interim dividend of RMB37.75 cents per ordinary share paid in September 2024, the total dividend for the year ended 31 December 2024 will amount to RMB58.48 cents per ordinary share or a total dividend payout ratio of 50%(2023: 45%). In terms of cash flow management, the Group's net cash generated from operating activities during the year amounted to RMB5,268 million (2023: RMB4,688 million). As at 31 December 2024, cash and cash equivalents (including cash at banks and in hand, and fixed term deposits with original maturity of no more than three months) amounted to RMB7,499 million, representing an increase of RMB2,055 million, as compared with the position as at 31 December 2023. Adding back the amount recorded as fixed-term deposits held at banks, cash balance amounted to RMB18,141 million, which represented a net increase of RMB166 million as compared to 31 December 2023. During the year, the Group maintained a healthy level of operating capital, and the net cash generated from operating activities increased compared to the previous year. The Company will continue to prudently assess its capital plan in light of market conditions and capital requirements to ensure maximum efficiency in the use of capital and to support its long-term development objectives. Operational Summary During the Year, the Group maintained its focus on the core strategy of 'Single Brand, Multi-categories, Diversified Channels' to enhance product strength through continuous research and development and technological innovation. Furthermore, the Group made significant progress across various aspects of its business including product innovation, brand building, and channel optimization. In 2024, the Group made multi-dimensional breakthroughs in the research and development of technologies. During the Year, the Group launched the new midsole technology 'Super BOOM"(超䨻), which is not only lighter and more elastic but also boasts an exceptional elasticity-to-weight ratio, representing the pinnacle of performance for supercritical foaming materials. The BOOM technology platform has achieved four application breakthroughs within six years, evolving from a 'single technology' to 'four major technologies'. This progression demonstrates the Group's commitment to exploring materials and manufacturing processes and exceptional ability to deploy and broaden their application, further enhancing its ability to diversify product offerings and iterate product lines. In respect of branding and marketing, the Group continued to focus on the six core categories of running, basketball, training, badminton, table tennis, and sports casual. It also actively explored emerging sports and subcategories, such as outdoor sports, golf, tennis and pickleball. The Group leveraged technological innovation capabilities to drive product upgrades underpinned by three key pillars: solidifying a professional sports mindset, showcasing sports fashion aesthetics, and inheriting Chinese cultural values. Moreover, it proactively sought to strengthen its differentiated brand advantages and enhance brand influence through diversified and comprehensive marketing campaigns. Capitalizing on the market opportunities presented by a year distinguished major sporting events, the Group delved into the essence of its brand spirit and gained insights into the younger generation's attitudes towards sports. Through these efforts, it articulated the brand spirit of 'Dare to Imagine, Create Excellence, Anything is Possible"(敢於想像，創造精彩，一切皆有可能) and launched the 'In My Name"(以我為名)-themed marketing campaign, aiming to solidify LI-NING's professional image and establish a deeper emotional connection with consumers. In respect of channel, the Group consolidated and enhanced operational efficiency for high-end markets and accelerate expansion into emerging markets. In the high-end markets, the Group focused on improving the efficiency of single store sales through a series of refined management processes and the orderly closure of stores with substantial losses to make the channel layout more reasonable, effectively enhancing overall channel efficiency. At the same time, the Group actively expanded its presence in emerging markets. Diversified sales strategies and flexible market response capabilities enable the Group to gradually expand its market share in emerging markets. As of 31 December 2024, the number of conventional stores, flagship stores, China LI-NING stores, factory outlets and multi-brand stores under the LI-NING brand (including LI-NING Core Brand and LI-NING YOUNG) amounted to 7,585, representing a net decrease of 83 POS as compared to 31 December 2023. The number of distributors was 41 (including sales channels of China LI-NING stores), representing a net decrease of 5 as compared to 31 December 2023. In terms of retail operations, the Group intensified efforts to promote a single-store operational model with solid profit and efficiency. It established standard profit and loss models for stores at all levels, standardizing and quantifying core store metrics to link them with management objectives across departments. This formed an efficient and coordinated management system, contributing to improved overall operational efficiency. The Group also strengthened the synergies between inventory and sales planning for single-stores and was committed to achieving improvements in both operational efficiency and supply chain management, ensuring efficient and accurate resource allocation and profitability. In terms of new retail business, the Group continued to deepen the construction of its new retail business system, focusing on enhancing digitalization and all-channel operational capabilities. The aim is to efficiently convert private traffic and steadily improve sales performance. The Group actively explored diversified business models such as acquiring traffic through popular social media platforms like Douyin (抖音) and collaborating online with core channels to broaden sales, increase the proportion of out-of-store sales, and empower stores with new retail capabilities. In terms of e-commerce operations, facing intensified market competition and a sluggish consumption environment, the Group continued to deepen e-commerce reform and strengthened its core competitiveness in the e-commerce sector across the board through online and offline interaction, diversified marketing campaigns, and precise capture of major sales promotions. In terms of supply chain, the Group focused on exploring and matching high-quality supply chain resources, gradually improving the supplier matrix for high-end and outdoor products to ensure precise alignment between products and supply chain resources. The Group also implemented a flexible supply chain strategy to closely monitor market demand. Initiatives to refine management and analyse digital information support interoperability and transparency, improve the level of automation, and significantly enhance inventory efficiency along the supply chain. While flexibly responding to market changes, the Group strived to achieve dual improvements in production efficiency and economic benefits. In 2024, the Group made remarkable achievements in logistics. Four major regional logistics centres across the country underwent comprehensive automation upgrades and began operations. The Nanning central warehouse is set to begin operations in 2025, which will improve delivery efficiency and logistics and warehousing operational capabilities in the southwest of the country. The Group is also proactively promoting refined logistics plan management across its divisions. Through the optimization of digital tools, the Group catered to the specific needs of its sales teams, improved the efficiency of goods distribution, and reduced logistics costs. In terms of kidswear business, LI-NING YOUNG refined its youth product offerings, leveraging the core competitiveness of its clothing and accessories, while actively expanded into emerging markets, improved single-store efficiency, strengthened construction of clearance channels, promoted product distribution, and expanded the customer base. In terms of retail operations, LI-NING YOUNG continued to enhance operational efficiency and actively acquire and convert customers. Meanwhile, the Group actively built a community marketing system to strengthen member interaction and provide exclusive benefits to strengthen member loyalty and sales conversion rates. In terms of marketing, LI-NING YOUNG planned a series of offline youth activities and cross-border collaborations, focusing on popular sports including basketball, football, running and outdoor activities to showcase the brand's diverse appeal. Meanwhile, LI-NING YOUNG leveraged social media platforms, ensuring that its messaging reaches target audiences, drives engagement, and reinforces the concept of being a 'professional youth sports brand'. As at 31 December 2024, the total number of LI-NING YOUNG POS amounted to 1,468, representing a net increase of 40 POS since 31 December 2023. Outlook Looking ahead, the Group will continue to fulfil its commitments by focusing on its core strategy of 'Single Brand, Multi-categories, Diversified Channels', and ensure its effective implementation by strengthening operational systems and consolidating foundational support. 1. Strengthen the implementation of core strategies. By maintaining the healthy development of its core businesses, the Group will further integrate resources and leverage the LI-NING technology platform to further improve its professional product offerings in subcategories such as running, basketball, training, badminton, table tennis and sports casual. It will also deepen the fusion of the sporting spirit and its brand to enhance its competitiveness and influence in core business areas. Meanwhile, in addition to active efforts to optimize its product structure, the Group will expand diversified dressing scenarios with a commitment to the single-brand strategy, deeply integrate sports fashion culture, and launch sports products that combine technology and fashion. In addition, it will take the lead in laying out new pathways for sports consumption, especially in the markets for women, outdoor and youth, striving to achieve breakthrough progress in these emerging fields and drive diversified business expansion. Moreover, the Group is committed to expanding its presence in all target markets, with the aim to create business opportunities in each channel, continuously enhance brand influence, and drive sustained business growth. 2. Optimize operational efficiency. The Group will focus on boosting operational efficiency to ensure the effective implementation of its 'Single Brand, Multi-categories, Diversified Channels' strategy. Deepened cross-departmental collaboration and streamlined business processes will empower the Group with efficient product management operations and allchannel integration and supply chain collaboration. Meanwhile, the Group will adopt refined management practices and strictly control costs and benefits, to ensure optimal allocation of resources. At the organizational level, the Group will endeavour to streamline management levels, optimize talent structure, cultivate efficient teams, and promote collaboration among organizations, in order to accelerate the decision-making process, enhance execution, and build a flexible and efficient operational structure. 3. Reinforce underlying support. In terms of underlying support, the Group will ensure sound operations of its financial systems, strengthen fund management and optimize capital structure, and improve financial transparency in a way that provides a solid financial foundation for long-term development. At the same time, the Group will deepen the integration of digital and smart tools by applying digital and intelligent technologies to make more scientific business decisions and adapt with agility to market changes. Through data analysis, artificial intelligence and automation tools, the Group will enhance its insight into market trends and understanding of consumer behaviour, thereby driving innovation in products and services and providing strong support for sustained development. Mr. Li Ning, Executive Chairman and Joint CEO of the Group, concluded, 'Looking ahead to 2025, with strong policy support, consumer spending has the potential to grow decently in China. As a company with long-term roots in China market and a focus on professional products for sports, we are confident in our future development and will seize this opportunity to drive high-quality growth. Notably, LI-NING will once again partner with the Chinese Olympic Committee and the Chinese Sports Delegation from 2025 to 2028, which underscores the full trust and responsibility bestowed by the General Administration of Sport of China and the Chinese Olympic Committee and the high recognition of the Group's professionalism and innovation. By adhering to its core value of 'serving the public with sportsmanship', LI-NING is committed to becoming the most prominent and stylish sports brand from China and the preferred sports brand of Chinese consumers.' Hashtag: #LiNing #Sportswear The issuer is solely responsible for the content of this announcement. About Li Ning Company Limited Li Ning Company Limited is one of the leading sports brand companies in China, mainly operating professional and leisure footwear, apparel, equipment and accessories under the LI-NING brand. The Group has comprehensive research and development, design, manufacturing, marketing, distribution and retail management capabilities. It has established an extensive retail distribution network and supply chain management system in China. We are committed to be the most prominent, stylish, world-leading sports brand from China. In addition to its core LI-NING brand, the Group also manufactures, develops, markets, distributes, sells various sports products which are self-owned by or licensed to the Group, including Double Happiness (table tennis), AIGLE (outdoor sports) and Kason (badminton), which are operated through joint venture/associate with third parties of the Group.
Yahoo
27-03-2025
- Politics
- Yahoo
Bill allowing lawsuits after child sex assaults at school could be narrowed
A letter from Taylor Woods of Lincoln, a survivor of sexual assault at 19 years old while she was in a transitionary Lincoln Public Schools program for adults with disabilities, to State Sen. Danielle Conrad of Lincoln, which sits on Conrad's desk in the legislative chamber on Jan. 13, 2025. (Zach Wendling/Nebraska Examiner) LINCOLN — The ongoing legislative fight to allow lawsuits against Nebraska schools for alleged negligence in cases of child sexual assault faces a tough road in 2025, as indicated by a Wednesday hearing. Legislative Bill 156, by State Sen. Danielle Conrad of Lincoln, was the result of months of work to find 'the most narrow approach possible' to revive a successful measure that passed 28-17 on the last day of the 2024 legislative session. Gov. Jim Pillen vetoed the bill after lawmakers had adjourned, arguing the measure was too broad and would unfairly burden taxpayers. Lawmakers had no opportunity to respond. Conrad said LB 156, and a second proposal that mirrors the 2024 bill, represent a 'promise' to a Lincoln family to keep fighting for the issue: Loree, Roger and Taylor Woods. Taylor Woods was sexually assaulted in 2016 while in a program through the Lincoln Public Schools. Her mother, Loree, had frequently testified urging letting families sue, even though it wouldn't have affected the Woods family. Loree and her husband, Roger, died in a September accident. 'We shouldn't afford special favors and protection because little kids are getting raped or sexually assaulted at schools … on public grounds or in a public institution,' Conrad said. 'I think if there was ever a need to have a waiver for sovereign immunity, it's for cases like Taylor.' The issue revolves around 'sovereign immunity' and tort claims, or the idea that the government should be insulated from certain lawsuits and liabilities, in effect guarding taxpayer dollars. Pillen said he vetoed the measure, stating it would 'substantially erode' decades-old sovereign immunity protections and was too broad. 'We must hold perpetrators accountable and protect children from abuse by enforcing the criminal laws that exist and by targeting the wrongdoer,' Pillen said in his veto letter. 'Taxpayers should not bear this burden.' Conrad said LB 156 is in direct response to Pillen's veto. The Nebraska Supreme Court, in contentious rulings in 2020 regarding the death of an inmate and 2024 regarding foster care youths, the latter just after Pillen's veto, has ruled that the prohibition on civil tort claims includes any claim where an 'assault' has occurred, barring most litigants from even getting in the courthouse doors, Conrad and other senators have said. Conrad's bills, and the legislation from 2024 spearheaded by former State Sen. Justin Wayne of Omaha would create a narrow exception to sovereign immunity for crimes against children. Wayne helped usher through that bill as chair of the Judiciary Committee. 'We were so close': Nebraska mother responds to veto of child sexual assault and abuse bill LB 156 would allow negligence lawsuits in cases of sexual assault of a child that occurred: On school grounds. In a vehicle owned, leased or contracted by a school and being used for a school purpose. In a vehicle being driven for a school purpose by a school employee or designee. At a school-sponsored activity or athletic event. The 2024 bill and this year's copy of it, LB 236, would have allowed lawsuits beyond direct ties to a school, including child abuse, when such harm was the 'proximate result' of the failure of any political subdivision or an employee to exercise 'reasonable care' to protect the child. Private entities, including private schools, can already be sued and held liable in these cases. Elizabeth Eynon-Kokrda, general counsel for Education Rights Counsel, said she was in 'truly vigorous support for LB 156 because, frankly, too many children are being sexually violated at school.' Lauren Micek Vargas, chief executive officer of Education Rights Counsel, supported the narrowed bill, stating that for more than 10 years she has represented several children who have been sexually trafficked. 'Unlike the movies,' Vargas said, traffickers rarely kidnap kids and sell them into sex work. Instead, she said, predators groom children and are in positions of authority, targeting students' vulnerabilities. 'We are asking for our most vulnerable students to be protected, and we're asking for your assistance,' Vargas said. Eynon-Kokrda said the organization represented two clients in the last year who were raped at school. Both were unmonitored, she said, and each predator had a 'worrisome history.' Each survivor was also a child with significant special needs. Vargas gave the committee a list of such arrests in 2024 alone, including school officials in Omaha, Madison, Maywood and North Platte. Earlier this year, a principal in Stapleton was arrested, and a Papillion-La Vista school psychologist was arrested Tuesday. One mother writing to the committee, who planned to appear in person but had a family emergency, said her daughter in middle school was raped this school year. The mother said her daughter's individual education plan was not followed, and the mother alleged that the boy who raped her daughter 'was known to prey upon children with disabilities.' 'I trusted the school and they failed me,' the letter said. 'They failed my daughter, and I still don't know all the consequences of that failure.' Opposing both of Conrad's bills was Brandy Johnson, on behalf of the Nebraska Intergovernmental Risk Management Association; Chuck Wilbrand of Knudsen Law Firm in Lincoln, representing a public entity school insurance pool (ALICAP); Elaine Menzel, on behalf of the state associations for county attorneys, sheriffs and county officials; and Jennifer Huxoll, civil litigation bureau chief for the Attorney General's Office. Menzel also opposed LB 236 on behalf of the Nebraska League of Nebraska Municipalities. Huxoll, as she said in August when Wayne tried to revive the legislation in the summer special session on property taxes, said that few days go by without a headline regarding child pornography, sex trafficking or child sexual assault. She said law enforcement, local governments and lawmakers are working to combat those crimes. 'These two bills, however, will not reduce crimes against children,' Huxoll said. 'They will simply make our friends and neighbors of Nebraska financially responsible for judgments resulting from harms caused by criminals.' Johnson and Wilbrand said their organizations provide training and work to be proactive, not out of fear of being sued but to genuinely help children. 'The bad actor is the one that caused this, and that's what the trainings are supposed to be addressing,' Wilbrand said. Johnson said she has learned that local governments do try to do all they can to be proactive, yet the 'evil perpetrator is often hiding in plain sight, doing their best to conceal their actions.' 'It's not as easy as it might seem for a government or school to be able to foresee or prevent those situations,' Johnson said. Huxoll, echoing Pillen, said that if LB 156 were to become law, even narrowly, it would become easier for lawmakers to chip away and allow more lawsuits against local governments. Heather Schmidt, a Lincoln mother who supported the bill, said she understands and appreciates the concern that taxpayers would be liable for costs related to crimes they didn't commit. 'That being said, there has to be a mechanism to hold enablers accountable,' she said. Conrad also pointed to comments from former State Sen. Julie Slama of Dunbar who challenged opponents of the 2024 bill who argued the change would raise taxes. 'How many child molesters is your school district employing if it's going to impact your bottom line?' she asked during the 2024 debate. Other supporters of the law have said the lawsuits would allow an attempt, but not a guarantee, at financial rewards that could help a child with medical care or counseling that they might need for the rest of their lives. Conrad and Wayne, both lawyers, have said attorneys have an ethical duty against filing frivolous claims. Cameron Guenzel, representing the Nebraska Association of Trial Attorneys, supported the same measure as last year but opposed Conrad's LB 156 being narrowed to schools. He said the bill doesn't go far enough and that the rule as interpreted by the Nebraska Supreme Court just five years ago 'makes no sense.' Guenzel gave an example of a school hiring a bus driver where officials knew something was wrong but negligently hired the bus driver anyway. If the driver had a pattern of being drunk and later injured students while driving under the influence, the district could be sued for negligence. But if the driver was known to be prone to violence and later assaulted students, Guenzel said, the school could not be sued, because it included an 'assault.' Guenzel said the current law shields bad actors and discourages accountability. Guenzel also tried to appeal to the conservatives on the Judiciary Committee. Guenzel explained he is a concealed carry permit holder who has 'choose life' license plates, and who hasn't voted for a Democrat since when he was a 'wide-eyed college kid' voting for Barack Obama in 2008. Jennifer Turco Meyer, president-elect of the Nebraska Trial Attorneys Association, had a similar message. 'If we think justice and accountability work in the criminal context, we can't skip over and leave out civil justice in terms of how it will affect the way that school districts and law enforcement agencies take care of the most vulnerable people in our society, which are children,' she said. The departure of a large class of lawmakers this January, many in favor of Wayne's past bill, could add to the uphill climb to get a similar measure moving this year, even if narrowed. That was evident in multiple back-and-forth conversations Wednesday with freshman State Sens. Tanya Storer of Whitman, who succeeded former State Sen. Tom Brewer in north-central Nebraska, and Bob Hallstrom of Syracuse, who succeeded Slama. Conrad said she would be willing to further narrow her bill. Brewer and Slama both supported last year's measure. In response, Conrad said she could consider reducing allowable relief (already a maximum of $1 million), capping attorney fees or increasing the negligence standard for such a case. 'A step forward is better than status quo,' Conrad told the committee. The 2024 measure had received bipartisan support. Among key conservative supporters were former State Sens. Lou Ann Linehan of the Elkhorn area, Steve Erdman of Bayard and Halloran, as well as Brewer and Slama, who helped pass the bill, as did Wayne, raising the proposal for weeks before the final votes. The new chair of the Judiciary Committee, State Sen. Carolyn Bosn of Lincoln, led opposition to Wayne's bill. Either of Conrad's bills would require at least five votes on committee to advance. This year, four senators are new. Conrad has selected the narrow LB 156 as her 2025 priority bill, increasing the chances it could be debated if advanced from committee. 'Our job and the law's job is to ensure justice for people who are without justice, which is where we find ourselves today in regards to little kids of sexual assault at their schools and their schools had a hand in it,' Conrad said. 'Whatever we need to do to figure out, make it work better, I hope that we can do that together.' SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
