Suning.com listed on 2019 Fortune Global 500 with operating income of 37 billion USD

Event Calendar Press Releases Tuesday July 23, 2019 08:30
NANJING, China--23 Jul--PRNewswire/InfoQuest

Suning.com, a subsidiary of Suning Holdings Group ("Suning") was listed on 2019 Fortune Global 500 with an operating income of USD 37 billion, which is the third time the company appeared on the list since 2017. In the meanwhile, Suning.com has risen 94 places compared to last year, making the company one of the top 5 fastest growing companies on the list.

Fortune Global 500 is the most famous and authoritative list to evaluate world's largest companies. Since 2008, the number of listed companies in China has grown considerably, reaching 129 companies this year and ranking No.1 in terms of quantity for the first time in history.

The list shows that the total operating income of 500 companies listed this year was nearly 32.7 trillion US dollars with a year-on-year increase of 8.9%. While Suning.com saw a success of 2018 with operating income of 37 billion USD, increased by 30.35%, far exceeding the industry average.

As a leading Chinese retail company, Suning.com started its online-to-offline transformation in 2009 and eventually became a pioneer, achieving equal online and offline retail growth. Suning.com's semi-annual report forecast of 2019 shows that it expects net profit of 2.1 billion yuan to 2.3 billion yuan(approximately 300 million to 330 million USD) in the first half of the year.

Suning acquired Wanda Department Store at the beginning of the year and announced the acquisition of 80% of stake of Carrefour China in June. This will greatly enhance the strength of the department store and fast-moving consumer goods(FMCG) categories of the company and further complete the full-scenarios and all-categories retail layout. Over the past 6/18 shopping festival, Suning.com's omni-channel orders increased by 133% year-on-year, and the volume of FMCG surged by 245% compared with last year. By the end of June, Suning.com owns nearly 15,000 self-operated and franchised stores, including nearly 6,000 Suning Xiaodian(neighborhood convenience store).

Suning put forward its Smart Retail Strategy in 2017, which revolves around Smart Sourcing, Smart Selling, Smart Services, Smart Logistics and Smart Types of Business. The past three years saw double growth in retail performance and value expectations of Suning, which confirms the forward-looking nature of its online and offline smart retail strategy. 2019 will be the stage in which the smart retail map is outlined and accelerated. With the access of department stores and fast-moving supply chain, Suning's retail capacity will be further strengthened.

Zhang Jindong, chairman of Suning Holdings Group said, "The future of retail must be the perfect integration of online and offline. Suning will continue to explore the smart retail strategy and move forward in the leading industry to better serve Chinese and global customers."

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 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: Suning.com, Logistics, Financial Services, Technology, Real Estate, Media &Entertainment, Sports, and Investment, among which Suning.com was listed on the 2017 and 2018 list of Fortune Global 500.

For more information see www.suningholdings.com
Photo - https://photos.prnasia.com/prnh/20190722/2530617-1
Caption - Suning.com headquarters

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