China's Suning Net Profit Up 56.08% In H1 2010

Chinese home appliances retailer Suning has published its semi-annual financial report, stating that due to the incentive policy in China's home appliances industry, its net profit increased by 56.08% year-on-year to CNY1.974 billion in the first half of 2010.

During the same period, its total operating revenue was CNY36.055 billion, a year-on-year increase of 31.90%; and its profit per share was CNY0.28, a year-on-year increase of 47.37%.

From January to June 2010, Suning opened 134 new retail chain stores on the Chinese mainland. It also optimized its network in Hong Kong and had 20 stores in the region by the end of June.

By June 30, 2010, Suning's total assets reached CNY39.476 billion, an increase of 10.14% compared with the CNY35.84 billion at the end of 2009.

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