Chinese Electronics Firm Boosts Business Prospects

Chinese electronics and home appliances company Suning has published its semi-annual performance report for the first half of 2012, stating that its total operating revenue increased by 6.69% compared with the same period of last year; while its net profit reached CNY1.745 billion.

According to the report, Suning developed 1,728 chain stores in Chinese mainland, Hong Kong, and Japan by the end of first half of 2012, and the company successfully entered eight new cities during the reporting period. Meanwhile, the company gained fast growth in the Internet retailing sector and its sales contributed by the business increased by 130% year-on-year to CNY5.9 billion, including the sales of virtual products.

During the first six months of 2012, continued to improve its operating categories, information system, and service system. With the effective operation in the second quarter of 2012, the website gained growth in traffic, sales, and brand awareness. In addition, Suning enhanced its construction of logistics, warehousing and information system and the company will further form ten logistics centers, serving consumers in the entire country.

In regards to future development, Suning will integrate its online and offline businesses. Meanwhile, the company plans to accelerate its store structure adjustment to improve individual store quality, further lower operating costs, and increase profiting capacity.

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