Shares of Li Ning Co Ltd (2331.HK) surged 5.15% in intraday trading on Friday, as investors reacted positively to the company's robust full-year financial results and dividend announcement. The Chinese sportswear giant's performance exceeded market expectations, demonstrating resilience in a challenging economic environment.

Li Ning reported impressive figures for the fiscal year, with revenue reaching RMB 28,676 million. The company's profitability remained strong, posting a net income of RMB 3,013 million. Notably, Li Ning maintained a healthy gross margin of 49.4%, indicating effective cost management and pricing strategies. The adjusted return on equity (ROE) stood at 11.9%, reflecting the company's efficient use of shareholders' capital.

Adding to investor enthusiasm, Li Ning announced a recommended final dividend of RMB 20.73 cents per ordinary share, rewarding shareholders for their continued support. This dividend payout, coupled with the solid financial performance, likely contributed to the stock's significant uptick. The market's response underscores confidence in Li Ning's business model and future prospects in the competitive sportswear industry.