Who owns Double Happiness?
Double Happiness is not wholly owned by any single company recorded here: Li Ning (China, HKEX: 2331) holds a 47.5% stake.[1]
Evidence: Li Ning Company Limited — Annual Report 2025. Last checked .
Key facts
- Largest stakeholder
- Li Ning Company Limited (47.5% stake) reported
- Headquarters
- 🇨🇳 China, Beijing
- Origin
- 🇨🇳 China
- Category
- Apparel, footwear & accessories › Sportswear & footwear › Activewear
- Parent ticker
- HKEX: 2331
- Last verified
- · 1 sources
About Double Happiness
Double Happiness is a table tennis equipment brand made by Shanghai Double Happiness Co., Ltd., in which the Chinese sportswear group Li Ning holds an effective 47.5 per cent. Li Ning accounts for the company as an associate rather than a subsidiary: it has the right to appoint a director and influences policy, but does not control the business outright.
Ownership timeline of Double Happiness
Where Double Happiness sits in Li Ning
Controlling ownership as of . Brands grouped under the entity that owns them; large groups are collapsed.
Open the full Li Ning ownership tree →
See the full Li Ning brand portfolio (4) →
Other brands owned by Li Ning
Li Ning controls 5 brands on Brandtree, 5 of them in apparel, footwear & accessories.
Also in apparel, footwear & accessories
Other brands in activewear, and who owns them
Li Ning has more brands in activewear on Brandtree than any other owner: 4 of 23.
| Brand | Owner | Owner based in |
|---|---|---|
| Briko | BasicNet | 🇮🇹 Italy |
| lululemon | Lululemon | 🇨🇦 Canada |
| Stylerunner | Accent Group | 🇦🇺 Australia |
| Wilson | Amer Sports | 🇫🇮 Finland |
| OFFLINE by Aerie | American Eagle Outfitters | 🇺🇸 United States |
| FILA (Greater China) | Anta Sports | 🇨🇳 China |
| TravisMathew | Callaway Golf | 🇺🇸 United States |
| prAna | Columbia Sportswear | 🇺🇸 United States |
About the owner: Li Ning
Li Ning is a publicly listed company headquartered in Beijing, China.
Li Ning Company is a Chinese sportswear group, incorporated in the Cayman Islands with its operational headquarters in Beijing, and listed on the Hong Kong main board since 28 June 2004. Li Ning himself is executive chairman and joint chief executive. Revenue rose 3.2 per cent to RMB29,598 million in 2025 across running, basketball, training, badminton, table tennis and sports casual, and it also runs Double Happiness, AIGLE and Kason through joint ventures or associates.
🇨🇳 Double Happiness and other Chinese brands
Brandtree records a controlling owner for 339 brands that began in China. 39 of them (12%) are now controlled by a company headquartered in another country; Double Happiness is not one of them.
Frequently asked questions
Who owns Double Happiness?
No single company recorded here owns Double Happiness outright. Li Ning holds a 47.5% stake.
Does Li Ning control Double Happiness?
No. A 47.5% holding does not give control, so Li Ning shares ownership with others.
Where did Double Happiness come from?
Double Happiness originated in China.
Sources (1) & corrections
Last verified . Every ownership fact above is backed by one of these primary documents. Numbers in brackets in the text refer to this list.
- [1] Li Ning Company Limited — Annual Report 2025 — Li Ning Company Limited, Annual report; retrieved 16 September 2026.
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