Hong Kong Exchanges and Clearing Limited

FORM 2 - Corporate Substantial Shareholder Notice

Form Serial Number:

CS20190531E00334

1. Date of relevant event:

28/05/2019
(dd/mm/yyyy)

2. Date when the substantial shareholder becomes aware of the relevant event / interest in the shares (if later):

30/05/2019
(dd/mm/yyyy)

3. Stock code:

02331

4. Name of listed corporation:

Li Ning Co. Ltd.

5. Class of shares:

Ordinary Shares

6. Number of issued shares in class:

2,305,524,340

7. Name of substantial shareholder:

JPMorgan Chase & Co.

8. Registered office:

383 Madison Ave., New York, NY 10179, United States

9. Principal place of business in Hong Kong:

N/A

15. Exchange on which listed:

New York Stock Exchange

16. Name of listed parent and exchange on which parent is listed:

N/A

17. Details of relevant event:

Brief description of relevant event

Capacity in which shares were/are held

Number of shares bought/sold or involved

Currency of transaction

On Exchange

Off Exchange

Before relevant event

After relevant event

Highest price (per share)

Average price (per share)

Average consideration (per share)

Nature of consideration

Long position

1001	You first acquire a notifiable interest because: you purchased the shares

2201	Interest of corporation controlled by you

2201	Interest of corporation controlled by you

19,429,500

HKD

13.0400

12.9336

12.9348

3101

Cash

Short position

1403	You came to have a short position of 1% or more in the shares, or the percentage level of your short position in such shares increased because: any other event (you must briefly describe the relevant event in the Supplementary Information box)

2201	Interest of corporation controlled by you

2201	Interest of corporation controlled by you

1,837,500

18. Total shares immediately before the relevant event:

	Total number of shares	Percentage figure (%)
Long position	107,558,273	4.66
Short position	30,936,071	1.34
Lending Pool	68,787,529	2.98

19. Total shares immediately after the relevant event:

	Total number of shares	Percentage figure (%)
Long position	126,987,773	5.50
Short position	29,098,571	1.26
Lending Pool	68,833,029	2.98

20. Capacity in which interests disclosed in Box 19 are held:

Capacity code

Number of shares

2201	Interest of corporation controlled by you

Long position	57,616,142
Short position	28,128,571

2102	Investment manager

Long position	248,500
Short position	970,000

2106	Person having a security interest in shares

Long position	290,102
Short position	0

2502	Approved lending agent

Long position	68,833,029
Short position	0

21. Further information in respect of derivative interests:

Derivatives code

Number of shares

4102	Listed derivatives - Cash settled

Long position	0
Short position	402,500

4105	Unlisted derivatives - Physically settled

Long position	5,888,000
Short position	0

4106	Unlisted derivatives - Cash settled

Long position	1,234,000
Short position	12,019,071

22. Further information in relation to interests of corporations controlled by substantial shareholder:

Name of controlled corporation

Address and place of incorporation

Name of controlling person

% control

Direct interest (Y/N)

Number of shares

J.P. Morgan Bank Luxembourg S.A. - Amsterdam Branch

Strawinskylaan 1135 Amsterdam 1077XX Netherlands

J.P. Morgan Bank Luxembourg S.A.

100.00

Long position	983,500
Short position	0

J.P. Morgan AG

TaunusTurm Taunustor 1 Frankfurt am Main Frankfurt 60310 Germany

J.P. Morgan International Finance Limited

100.00

Long position	1,803,500
Short position	0

Highbridge Capital Management, LLC

40 West 57th Street Floor 32 New York NY 10019 United States

JPMorgan Asset Management Holdings Inc.

100.00

Long position	18,500
Short position	970,000

J.P. Morgan Securities LLC

383 Madison Ave. New York NY 10179 United States

J.P. Morgan Broker-Dealer Holdings Inc.

100.00

Long position	13,707,000
Short position	13,707,000

JPMORGAN CHASE BANK, N.A. - LONDON BRANCH

25 Bank Street Canary Wharf London E14 5JP England

JPMorgan Chase Bank, National Association

100.00

Long position	29,440,246
Short position	0

J.P. Morgan Investment Management Inc.

383 Madison Avenue New York NY 10179 United States

JPMorgan Asset Management Holdings Inc.

100.00

Long position	230,000
Short position	0

JPMorgan Chase Bank, N.A. - New Zealand Branch

Level 13, ASB Tower 2 Hunter Street Wellington 6011 New Zealand

JPMorgan Chase Bank, National Association

100.00

Long position	907,000
Short position	0

J.P. Morgan Bank Luxembourg, Copenhagen Br, filial af J.P. Morgan Bank Luxembourg S.A.

Kalvebod Brygge 39 Kobenhavn V 1560 Denmark

J.P. Morgan Bank Luxembourg S.A.

100.00

Long position	2,020,000
Short position	0

JPMorgan Chase Bank, N.A. - Sydney Branch

83-85 CASTLEREAGH STREET Sydney NSW 2000 Australia

JPMorgan Chase Bank, National Association

100.00

Long position	2,178,791
Short position	0

J.P. Morgan Bank Luxembourg S.A.

European Bank & Business Centre 6, route de Treves Senningerberg L-2633 Luxembourg

J.P. Morgan International Finance Limited

100.00

Long position	17,451,500
Short position	0

JPMorgan Chase Bank, National Association

1111 Polaris Parkway Columbus OH 43240 United States

JPMorgan Chase & Co.

100.00

Long position	12,831,161
Short position	0

JPMorgan Chase Bank, N.A. - Hong Kong Branch

7/F, 20/F, 22/F-29/F Chater House, 8 Connaught Road Central Hong Kong Hong Kong

JPMorgan Chase Bank, National Association

100.00

Long position	1,661,832
Short position	0

J.P. Morgan (Suisse) SA

8, rue de la confederation, PO Box 5160, 1211 Geneva 1211, Switzerland Geneva 1211 Switzerland

J.P. Morgan International Finance Limited

100.00

Long position	1,356,000
Short position	0

J.P. MORGAN SECURITIES PLC

25 Bank Street Canary Wharf London E14 5JP England

J.P. MORGAN CAPITAL HOLDINGS LIMITED

100.00

Long position	42,398,743
Short position	14,421,571

J.P. Morgan Bank Luxembourg S.A.

European Bank & Business Centre 6, route de Treves Senningerberg L-2633 Luxembourg

J.P. Morgan International Finance Limited

100.00

Long position	3,003,500
Short position	0

J.P. Morgan International Finance Limited

383 Madison Avenue New York NY 10179 United States

JPMorgan Chase Bank, National Association

100.00

Long position	66,013,243
Short position	14,421,571

JPMorgan Chase Bank, National Association

1111 Polaris Parkway Columbus OH 43240 United States

JPMorgan Chase & Co.

100.00

Long position	100,201,112
Short position	14,421,571

JPMorgan Asset Management Holdings Inc.

383 Madison Avenue New York NY 10179 United States

JPMorgan Chase Holdings LLC

100.00

Long position	248,500
Short position	970,000

JPMorgan Chase Holdings LLC

383 Madison Avenue New York NY 10179 United States

JPMorgan Chase & Co.

100.00

Long position	13,955,500
Short position	14,677,000

J.P. Morgan Broker-Dealer Holdings Inc.

4 Chase Metrotech Center 14th Floor Brooklyn NY 11245 United States

JPMorgan Chase Holdings LLC

100.00

Long position	13,707,000
Short position	13,707,000

J.P. MORGAN CAPITAL HOLDINGS LIMITED

25 Bank Street Canary Wharf London E14 5JP England

J.P. Morgan International Finance Limited

100.00

Long position	42,398,743
Short position	14,421,571

23. Further information in relation to interests held by substantial shareholder jointly with another person:

Name of joint shareholder	Address	Number of shares

24. Further information from a trustee, a beneficiary of a trust, or a person who set up a discretionary trust:

Names of trust	Address	Status code	Number of shares

25. Further information from a party to an agreement under Section 317 (Please see Notes for further information required):

Names of other parties	Address	Number of shares

Total number of shares in which a substantial shareholder is interested under sections 317 and 318

26. Details of person(s) in accordance with whose directions the substantial shareholder or its directors are accustomed to act:

Names	Address	Relationship Code	Percentage (%)

27. Supplementary information:

JP Morgan Chase & Co. came to have a short position of 1% or more in the shares, or the percentage level of your short position in such shares increased.

28. Log/Serial Number of the previous form:

29. Number of concert party document(s) under section 317 attached/uploaded:

Date of filing this Form 2:

31/05/2019
(dd/mm/yyyy)