Suning was exposed to plans to sell its e-commerce business, which is closely related to the deterioration of its financial situation in recent years.

Suning.com is rumored to be considering selling its e-commerce business for US$6 billion

Recently, according to Bloomberg News, Suning.com is considering selling its e-commerce business, seeking a valuation of approximately US$6 billion in order to ease financing pressure.

It is reported that Suning.com is evaluating the interest of strategic investors and private equity investors, and some potential investors who are in contact believe that the valuation of US$6 billion is too high.

In response to the above rumors, Suning responded that it is not true.

Some analysts believe that Suning’s plan to sell its e-commerce business is closely related to the deterioration of its financial situation in recent years. According to the financial report for the third quarter of 2020, Suning.com’s revenue in the third quarter was 62.438 billion yuan, a year-on-year decrease of 4.58%. The net profit attributable to shareholders of listed companies was 714 million yuan, a year-on-year decrease of 92.69%. The deduction of non-net profit was actually negative. , That is, loss.

According to the financial report, the decline in performance was due to the increase in investment income brought about by the release of Suning Financial in the same period last year.

From 2017 to 2019, the net cash flow generated by Suning.com’s operating activities was negative for three consecutive years, and the net cash flow generated by investment activities fell from 13.44 billion yuan in 2017 to negative 20.87 billion yuan in 2019 yuan.

However, following the previous 1 billion repurchase plan, Suning Tesco recently announced a 2 billion bond repurchase plan and salary increase plan, and participated in the glory acquisition as a dealer, which boosted investment to a certain extent. Confidence.

During the Double Eleven event this year, Tmall’s turnover was 498.2 billion yuan, and Jingdong’s accumulated orders exceeded 271.5 billion yuan. Suning disclosed some real-time data. From 0:19 to 0:19 on November 11, Suning’s full-scene ecological channels (including Suning Tesco, Suning Tesco’s Tmall flagship store, Suning Tesco’s superbuyer live studio, Suning store Broadcasting, etc.) GMV exceeded 5 billion yuan.

Comment from editor-in-chief: Suning.com’s performance is under pressure. Although Suning denied the rumors of selling its e-commerce business, from the financial situation of Suning Tesco, the sale is not impossible. Betting on e-commerce was an important step in Suning’s transformation from offline to online. However, compared with e-commerce giants such as Alibaba, JD.com, and Pinduoduo, Suning.com has been in e-commerce for many years and has not yet entered the first echelon, and the road to transformation is not clear.Cai…

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