(Yicai) Aug. 13 -- Chinese sportswear brand Li Ning has denied rumors regarding an endorsement deal with French soccer star Kylian Mbappé, who has reportedly ended his long-term partnership with Nike.

"The rumors about our company signing a deal with a well-known soccer player are untrue," the Beijing-based firm told Yicai yesterday. "Li Ning has not been involved and has no plans to pursue any such cooperation."

Chinese fintech media outlet 36Kr reported yesterday that Li Ning will sign Mbappé and create an independent personal brand centered around the 28-year-old French soccer star playing for top-tier Spanish team Real Madrid. 36Kr also mentioned that Mbappé would invest in buying a stake in Li Ning.

Mbappé terminated his 20-year partnership with US sports giant Nike on July 31, soccer news outlet Goal.Com reported earlier, adding that he is set to sign with an unexpected new company, which would provide him with a substantial income.

Nike has been the equipment sponsor of Mbappé since he was eight years old, witnessing his growth into a world-class star. Mbappé won the Adidas Golden Boot at the 2026 FIFA World Cup after scoring 10 goals. He helped France win the 2018 FIFA World Cup.

Founded in 1990 by retired Chinese Olympic gymnastics champion Li Ning, the namesake brand is China's second-largest sports brand by revenue after Anta Sports Products. Last year, Li Ning's revenue rose 3.2 percent to CNY29.6 billion (USD4.4 billion) from the previous year, while its net profit shrank 2.6 percent to CNY2.9 billion (USD430 million).

Li Ning's shares [HKG: 2331] were trading up 0.2 percent at HKD14.62 (USD1.86) as of 11.25 a.m. in Hong Kong today.

Editors: Dou Shicong, Futura Costaglione