Suning Sees 46% Rise In Omni-channel Sales In Q1 As It Strengthens Smart Retail Strategy

2018-05-02 17:42 1277

NANJING, China, May 2, 2018 /PRNewswire/ -- (002024.SZ,) ("the Company"), the Fortune Global 500 company and China's largest online-to-offline (O2O) smart retailer owned by Suning Holdings Group - has announced omni-channel sales of RMB 69.33 billion (approximately US$11.023 billion[1]) in the first quarter of 2018, up 46.33% year-on-year, according to its just-released financial report. Together with other appealing results, the report demonstrates that the Company's innovative online-to-offline ("O2O") smart retail strategy has been a great success. Life Plaza and Suning’s Headquarters in Nanjing, China Life Plaza and Suning’s Headquarters in Nanjing, China

According to the report, generated an operating revenue of RMB 49.62 billion (approximately US$7.889 billion) with a year-on-year increase of 32.76%. The net profit attributable to equity shareholders of the company was RMB 111 million (approximately $17.649 million), up 42.15% year-on-year.

The past six quarters saw a stable growth of Suning's smart retail business, meaning that the firm has entered a new stage of development in omni-channel sales. During the first quarter of 2018, saw a total volume of RMB 39.771 billion (approximately US$6.323 billion) in online physical trading, up 81.50% year-on-year. Additionally, the number of monthly active users of APP saw a 60.48% year-on-year increase. In March 2018, the number of orders generated by APP reached more than 90.2% of the total online orders.

With the help of Suning's well-established O2O businesses and cloud system, it owns a total of 4,141 direct-sale physical stores and 209 Suning retail cloud franchise stores, as of March 31, 2018. Also, Suning has opened 210 internet-connected convenience stores in a bid to further expand its business in major cities and low-tier cities in China.

In addition to Suning's retail subsidiary, Suning's "Logistics" and "Financial Services" also continued rapid growth. In the reporting period, Suning Logistics revenue (excluding Tian Tian Express) saw an 84.84% year-on-year increase. Suning Financial Services (payment business, supply chain finance, etc.) saw a 257.8% increase in penetration rate. The company has also developed a black list sharing platform powered by blockchain technology to further combat financial fraud.

Click here to see Suning's financial tables (Chinese only)

[1] Calculated at an exchange rate of 6.2894 RMB to 1 USD

About Suning

Founded in 1990, Suning is one of the leading commercial enterprises in China with two public companies in China and Japan respectively. In 2017, Suning Holding ranked second among the top 500 private-owned enterprises in China with annual sales of 65.7 billion USD (412.95 billion RMB). With the mission of "Leading the Ecosystem across Industries by Creating Elite Quality of Life for All", Suning has strengthened and expanded its core business through eight vertical industries:, Logistics, Financial Services, Technology, Real Estate, Media & Entertainment, Sports, and Investment, among which was listed on the 2017 list of Fortune Global 500.

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Source: Suning
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