PR83869

NANJING, China, April 30, 2020 /PRNewswire=KYODO JBN/ --

Suning.com (002024.SZ), China's leading O2O smart retailer, owned by Suning

Holdings Group, released 2020 Q1 financial result. According to the report,

Suning.com achieved revenue of RMB57.839 billion (USD8.172 billion) and GMV of

RMB88.672 billion. Among which, GMV of online open platform reached to

RMB24.168 billion, increasing by 49.05% YoY. Facing the outbreak of the

pandemic, Suning.com positively sought for changes. The company vigorously

developed the online business and home delivery service. The GMV of online

business attained to RMB61.04 billion, accounting for 68.85% of total business.

In the face of the pandemic, Suning.com fully took advantages of accumulated

full-scenario Internet operational capabilities, full-category products and

self-operated logistics. Moreover, the company discovered the community

consumption business, developed the home delivery service and enhanced the

ecological brand partnership. Thanks to the transformations, the commodity

scale of Suning.com increased gradually, far better than the industrial average

level, demonstrating the strength and potential of Suning's full-scenario smart

retail business.

During the Q1 2020, Suning.com guaranteed consumers with abundant products and

non-stop operation. Suning Carrefour and Suning Convenience Store optimized the

supply chain and assured the logistics needs for more than 100 cities.

Regarding to the consumption demand of lazy economy, Suning.com fully optimized

its home services from IT technology to products structure, establishing a

supply chain integration of store and warehouse, making sure the delivery

timeliness and bringing more online traffics and a better reputation for the

platform. In Q1, new registered members of Suning.com reached to 23 million

while total members surpassed 578 million. Especially, monthly active users

increased by 36.87% YoY. In addition, Suning Carrefour has achieved two

consecutive quarterly profits and the home-delivery service has gained a

prominent performance, accounting for 10% of total Carrefour sales in March.

What's more, the business scale of Suning.com FMCG category achieved a growth

by 167.99% YoY.

In the first quarter of 2020, Suning.com made strategic changes and maintained

operational edges by accelerating expansion in the lower-tier market and

discovering new business model. During the reporting period, the company

encouraged employees from stores to selling through live streaming, promoting

194.84% of growth of Tuike (Community Recommendation) business. Meanwhile, the

number of new Retail Cloud franchises reached to 466 and total franchises

attained to 4,963. Moreover, Suning logistics formed a service of diversity and

high efficiency, partnering with many corporations of home appliance, 3C,

furniture, food and general merchandise.

The Chairman of Suning.com Group, Zhang Jindong mentioned that the outbreak of

the pandemic has caused a huge economic impact in the short term, which will

not affect the long-term prospective development of China's economy. In 2020,

the purpose of Suning will continue to seek for stable development and steady

investment, strengthening the construction of infrastructure and implementing

its business of openness and integration. Suning will keep enhancing the

full-scenario development and enlarging the output of resource capability.

SOURCE:Suning.com