PR86156

NANJING, China, Oct. 16, 2020 /PRNewswire=KYODO JBN/ --

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

Holdings Group, has released its financial performance preview for the first

three quarters of 2020. The projection demonstrates the continued improvement

of its profitability, with the net profit attributable to shareholders of

listed companies expected to reach 670 million to 920 million RMB.

Driven by the strong demand for air-conditioning during the peak season and 818

sales promotions, the online business of Suning.com has witnessed impressive

growth, with commodity transactions on the open platform surging 56.83%

year-on-year during the reporting period.

From January to September, Suning.com also leveraged the advantages of its

online and offline retail channels to help steadily increase its online sales

volume, with transactions volume hitting a 18.15% growth year-on-year.

Suning.com has optimized its online platform with intelligent marketing tools,

improved logistics and warehousing services, empowering merchants to enhance

traffic distribution and conversion efficiency all with a broader product offering.

Through the power of digital, Suning.com's retail cloud franchise stores broke

down the distinction between online and offline stores to create a new business

model that combines the supply chain with offline stores and social eCommerce.

As a result, the total sales volume of Suning.com's retail cloud franchise

stores grew by 77.5% year-on-year, with 2,432 new retail cloud franchises

opening from January to September. Among them, 871 stores were opened in the

Q3, which helped increase sales volume by 108%.

In addition to actively responding to the pandemic, Suning.com accelerated the

shift from being a retailer to a retail service provider. Meanwhile, Suning.com

continued to drive out-of-store sales in Q3 through push orders, group buying

and live streaming promotions. The Group further integrated Carrefour China's

supply chain and seized market opportunities to develop its to-home business.

During the reporting period, the platform experienced a steady expansion in

product ranges with the number of active users in August up by 22.49% year-on-year.

Through cost reduction measures and boosting operational efficiency, Suning has

also optimized its product supply chain, user management and services. The

Group will continue to focus on the construction of mid-platform systems,

accelerate the transformation of its offline outlets into retail cloud stores

and strengthen integration.

With a priority on improving the user experience, the business has reinforced

its plans to increase its openness to external suppliers, optimize specialized

operations across all product categories and ramp up efforts to consolidate its

logistical capacity through infrastructure expansion.

About Suning Holdings Group

Founded in 1990, Suning is one of the leading commercial enterprises in China

with two public companies in China and Japan. In 2020, Suning Holdings Group

ranked second in the top 500 non-state owned enterprises in China with annual

revenues of RMB 665.259 billion (approximately US $97 billion) and continued to

top the list of Internet retailing category. Adhering to the enterprise mission

of "Leading the Ecosystem across Industries by Creating Elite Quality of Life

for All", Suning has strengthened and expanded its core business as retail

through a corporate ecosystem comprised by multiple vertical industries,

including commercial real estate, financial services and sports. Suning.com,

the main subsidiary pioneering in online and offline retailing, has been listed

in the Fortune Global 500 for four successive years from 2017 to 2020.

SOURCE: Suning Holdings Group