China’s Suning Reports Net Losses Of CNY121 Million

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Suning Commerce Group's operating revenue was CNY68.715 billion, a year-on-year increase of 9.01%; and the electronics retail company made net losses of CNY121 million, a year-on-year decrease of 134.79% compared with CNY348 million net profit in the same period of last year, according to its semi-annual report for the first half of 2016.

Suning's retail sales were CNY85.578 billion, a year-on-year increase of 14.10%. The sales statistics covered Chinese mainland, Hong Kong, Macau, and Japan; and it included online and offline owned businesses, its open platform, as well as post-sales services. At the same time, Suning's Internet business saw a year-on-year increase of 80.31% and its order volume on mobile devices accounted for 72% of total e-commerce orders.

For its logistics business, Suning had a combined warehousing area of 4.78 million s...

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