Li Ning, the Chinese sports company that has been struggling to take advantage of the market's clean-up in the last two years, says it will break even in 2015 after three years of losses, based on unaudited numbers for the eleven months until the end of November. The company suffered a loss of 781.5 million yuan renminbi (€109.4m-$119.0m) on growing sales for 2014. The company says the apparent return to breakeven was achieved through investments to make its own stores more efficient, while improving its relationship with other retailers and expanding its online business. This has led to an increase in the group's turnover and gross profit margin, and a decline in spending as a percentage of sales. The projected breakeven for last year does not take into account the net gain arising from the disposal of the company's 10 percent interest in Double Happiness. Analysts were quoted in The Financial Times as saying that the company's return to profits was also supported by the closure of unprofitable stores, the opening of more own stores and the pick-up of the market, but it remained to be seen if Li Ning had sufficiently interesting products in store to catch up with the performance of the market leaders. Li Ning will publish its full annual results in March.