Chinese electronics and home appliances retailer Suning has released its performance report for the third quarter of 2011, stating that from January to September 2011, the company's e-commerce business grew rapidly and realized sales of CNY4.079 billion.
According to the report, Suning's total operating revenue in the first nine months of 2011 was CNY67.625 billion, a year-on-year increase of 24.54% and an increase of 52.89% compared with the first half of 2011. Its net profit was CNY3.422 billion, a year-on-year increase of 21.03%.
In the first half of 2011, the revenue from the company's e-commerce business accounted for 5.8% of the total revenue of Suning, and the ratio increased by 6% by the end of September.
As the e-commerce business has become a new growth point for Suning, the company announced that its Internet retail platform...
This news article comes via ChinaTechNews.com , who is the copyright owner of this information and news. FintekAsia.com has licensed the rights to this article and any republication or re-distribution in whole or in part of this content is strictly prohibited without the express consent of ChinaTechNews.com