The low-line urban market has become one of Suning’s main directions.
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Suning Semi-annual Report: Finding users in the sinking market, non-home appliances category determines the future
Recently, Suning Tesco released the semi-annual report for 2019. The report shows that in the first half of the year, Suning achieved revenue of 135.571 billion yuan, a year-on-year increase of 22.49%; the sales volume of omni-channel commodities was 184.213 billion yuan, an increase of 21.80%; the net profit of returning home was 2.139 billion yuan, a year-on-year decrease of 65.7%. The net profit fell by 60% mainly because the base was too big last year. The net profit of 6.003 billion in the same period last year included 5.601 billion yuan from the sale of Ali shares.
The low-line urban market has become one of Suning’s main directions. Earlier, Suning Chairman Zhang Jindong said at this year’s Retail Cloud Partner Conference that Suning’s goal for the next two years is to open 12,000 stores in the county market. As of the end of June this year, the total number of Suning retail cloud stores has reached …
Editor’s comment: From Suning’s semi-annual report, it can be seen that the non-home appliance category and low-line city market are both the key points of Suning’s breakthrough and may become its new growth engine. CITIC Jiantou believes that…
This article is from the paid section “Daily Business Featured” – September 2
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