Business Intelligence on Retailing, Franchising, and Consumerism in China

China's Suning Commerce Group Reported CNY68.72 Billion Operating Revenue In H1 2016

Suning Commerce Group recently published a report for its performance in the first half of 2016, stating that Suning's total operating revenue was CNY68.72 billion, a year-on-year increase of 9.03%.

At the same time, the electronics retail company made total losses of CNY225 million, a decrease of 147.61% compared with the same period of last year; and its net losses were CNY124 million, a decrease of 135.71% over the same period of last year.

In addition, Suning's total assets reached CNY125.1 billion by the end of the reporting period, representing an increase of 42.04% compared with six months ago; its net assets per share were CNY6,280, an increase of 52.06% compared with six months ago.

Suning said that during the reporting period, the company's retail sales scale saw a year-on-year increase of 14.10%. Meanwhile, its total trade scale of physical goods on online platform were CNY32.757 billion, a year-on-year increase of 80.31%, of which sales of owned goods were CNY25.631 billion and trade scale of open platform was CNY7.126 billion.

The report also showed that by June 30, 2016, Suning had 1,588 chain stores. Its distribution network covered 351 prefecture-level cities and 2,852 county-level cities across China.

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