Suning.com Reports Strong Growth with Revenue Over 200 billion Until Q3

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NANJING, China, Oct. 30, 2019 /PRNewswire/ -- On the evening of October 30, Suning.com (002024.SZ), China's leading O2O smart retailer, owned by Suning Holdings Group, released its 2019 Q3 financial result. According to the report, the company achieved revenue of RMB 201 billion in the previous three quarter of 2019; the sales volume of omni-channel commodities was RMB 275.9 billion, among which sales volume from online platforms was RMB 171.43 billion, increased by 24.27% year-on-year; the net income attributed to shareholders was RMB 11.9 billion.

Suning.com continues to enhance the ability to acquire customers online and offline. As of September 30, the number of registered members of Suning.com retail platform reached 470 million; Suning.com has a total of 8,407 self-operated and franchised stores. During the reporting period, the number of active users of Suning.com increased by 48.29% year-on-year, and Suning.com online product orders (excluding Suning.com Tmall flagship store) increased by 61.83%.

Following the acquisition of Wanda department store and Carrefour China, the company further enhanced its full-scenarios layout, and gradually built in the most comprehensive business format in retail industry in China.

At the end of September, Suning.com officially completed the acquisition of 80% stake of Carrefour China, which marks a milestone of the company's effort in complete the supply chain construction in Fast Moving Consumer Goods (FMCG) sectors. It has now formed a full-scenario network coverage of Suning supermarket, offline Carrefour supermarket, SuFresh boutique supermarket and Suning Xiaodian (neighborhood convenience store). As a new member of the Suning family, 210 stores of Carrefour China nationwide will launch a full upgrade by the end of the year. The introduction of Carrefour's supply chain capabilities will effectively leverage the advantages of large-scale procurement, and help establish an efficient warehouse allocation system to promote the rapid development of Suning.com's FMCG categories.

In the previous three quarters of the year, Suning.com continued to increase investment in logistics, technology and building of other core capacities to lay a solid foundation for growth over the next decade.

In terms of logistics infrastructure, by the end of September 2019, the total area of warehousing and related support facilities for Suning Logistics was over 11 million square meters. There are 50 logistics bases in 41 cities are under operation, and 23 logistics bases are under construction and expansion in 17 cities. Together with the newly integrated 8 large distribution center of Carrefour China, Suning's logistics supply chain competitiveness has been greatly enhanced. .

Based on the strong logistics capability of Suning.com, this year's 11/11 shopping festival, Suning.com announced "One-Hour-Scenario Life Circle" plan to enable customers in selected regions to get their purchases delivered within half an hour to one hour.

In terms of technology, Suning strengthened its technology support capabilities and built supply cloud, user cloud, marketing cloud, logistics cloud and financial cloud to create a smart retail OS, which promoted the rapid development of Suning's self-operated business and smart retail capability. From January to September this year, Suning invested more than RMB 2.4 billion in research and development, saw a year-on-year increase of 61.14%.

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About Suning Holdings Group

Founded in 1990, Suning is one of the leading commercial enterprises in China with two public companies in China and Japan. In 2019, Suning Holdings Group ranked as the top three brands among the top 500 non-state owned enterprises in China with annual revenues of RMB 602.5 billion (approximately EURO 77.24 billion) and continued to top the list of Internet retailing category. Adhering to the enterprise mission of "Leading the Ecosystem across Industries by Creating Elite Quality of Life for All", Suning has strengthened and expanded its core business as retail through a corporate ecosystem comprised by multiple vertical industries, including commercial real estate, financial services and sports. Suning.com, the main subsidiary pioneering in online and offline retailing, has been listed in the Fortune Global 500 for three successive years from 2017 to 2019.

SOURCE Suning Holdings Group