Business, Gadgets & Electronics

China's Suning Reports Net Losses Of CNY121 Million

Suning Commerce Group's operating revenue was CNY68.715 billion, a year-on-year increase of 9.01%; and the electronics retail company made net losses of CNY121 million, a year-on-year decrease of 134.79% compared with CNY348 million net profit in the same period of last year, according to its semi-annual report for the first half of 2016.

Suning's retail sales were CNY85.578 billion, a year-on-year increase of 14.10%. The sales statistics covered Chinese mainland, Hong Kong, Macau, and Japan; and it included online and offline owned businesses, its open platform, as well as post-sales services. At the same time, Suning's Internet business saw a year-on-year increase of 80.31% and its order volume on mobile devices accounted for 72% of total e-commerce orders.

For its logistics business, Suning had a combined warehousing area of 4.78 million square meters by the end of the reporting period. Its warehousing and delivery network included eight national logistics centers, 47 regional logistics centers, 365 city delivery centers, and 6,267 end delivery sites with self pick-up service. During the reporting period, Suning achieved a 153.98% increase in its social logistics income.

In addition, Suning's finance businesses, including payment, supply chain financing, and financial management, realized an overall increase of 130% year-on-year.

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