Mengniu-Incubated Sports Nutrition Brand Secures Li Ning Investment
TREE NEWS reports: Professional sports nutrition brand Maisheng (迈胜) has completed a nearly 100 million yuan Series A+ funding round, less than a year after its Series A. The round was led by CITIC Agricultural Industry Fund, with participation from Li Ning Company and Viva China Holdings (非凡领越). The funds will be used for product R&D, building professional sports scenarios, user education, channel expansion, and supply chain and organizational capability development.
This marks the second near-100-million-yuan financing for Maisheng in under a year. In November 2025, the brand completed a Series A round led by Sirio Pharma (仙乐健康), with Gaorong Ventures and Mengniu Venture Capital participating. Including existing shareholder Mengniu Group, Maisheng’s investor base now spans dairy, nutrition and health, sports apparel, and industrial investment sectors.
Maisheng was incubated by Mengniu as a professional sports nutrition brand. It initially entered the market with liquid protein and has since expanded its product line to include energy gels, liquid salt pills, beetroot, and tart cherry products. The brand has established hundreds of “Maisheng Energy Stations” in hundreds of venues and training spaces, displaying products according to pre-, during-, and post-workout needs.
The group has provided Maisheng with R&D platforms, supply chain, and quality control systems. For Mengniu, Maisheng represents an attempt to extend from traditional dairy into functional nutrition.
Market Implications
Unlike the previous round, which brought in nutrition and health companies and market-oriented investment institutions, this round’s investors are closer to the sports consumption scenario. Li Ning Company’s main business covers professional and casual sports shoes, apparel, equipment, and accessories, with sports products, retail channels, and event marketing resources. Viva China operates multi-brand footwear and apparel and sports experience businesses, and is the single largest shareholder of Li Ning Company.
The sports nutrition market is becoming increasingly crowded. Protein supplements, electrolytes, energy gels, and similar products have relatively low barriers to entry, and traditional dairy companies, food and beverage companies, and new consumer brands are all accelerating their layouts. Brands must not only compete for online traffic but also continuously invest in user education in niche scenarios such as running, cycling, triathlon, and comprehensive physical training.
Therefore, the clearer signal from this funding round is not that Li Ning Company has already diversified into sports nutrition operations, but that the industrial connection between sports footwear and apparel, event scenarios, and nutritional supplements is strengthening. Whether Maisheng can convert shareholder resources into sales channels and stable repeat purchases will still depend on product capabilities, the degree of cooperation implementation, and market education efficiency.
Key Takeaways for Investors
- Convergence of sports and nutrition: The investment highlights a growing trend of integration between sports apparel, event platforms, and nutrition supplements, creating cross-sector opportunities.
- Strategic value of Mengniu’s incubation: Mengniu’s support in R&D, supply chain, and quality control provides a strong foundation for Maisheng’s expansion into functional nutrition.
- Competitive landscape: Low barriers to entry mean intense competition; success will hinge on brand differentiation, channel execution, and effective user education.
- Watch for execution: The real test is whether Maisheng can leverage Li Ning’s retail and event resources to drive sales and repeat purchases.
