Suning.Com Earnings: 1-9 Month Business Revenue Exceeded 200 Billion

A few days ago, suning.com released the third quarter report of 2019. The report shows that in 1-9 months of this year, suning.com realized operating income of 201 billion 9 million yuan, an increase of 16.21% over the same period last year, while the net profit of suning.com returned to the parent company was 11 billion 903 million yuan, an increase of 94% over the same period, of which 65 billion 437 million yuan was achieved in the third quarter, an increase of 5.05% over the same period, and 9 billion 764 million yuan net profit for the parent company, an increase of 7795.91% over the same period.

Report analysis of operating results shows that during the reporting period, Suning focused on the retail development of the whole scene, especially strengthening the operation of non electrical categories, resulting in business revenue growth; increased income from services related to the online and offline platforms from Suning line, and the increase in the scale of financial business revenue, with a slight improvement in the company's consolidated gross margin level.

In terms of operating costs, the 1-9 month suning.com staff rate increased year by year, the rental cost rate increased year by year, the logistics cost increased step by step, and the advertising promotion rate decreased year by year.

In addition, due to the implementation of the new accounting standards during the reporting period, the changes brought about by the reclassification of asset impairment losses and credit impairment losses account for a 77.18% decrease in asset impairment. The investment in financial products transferred from the fair value change to investment income has brought about a 142.35% decrease in the fair value change. Meanwhile, the investment income of suning.com increased by 245.26% over the reporting period.

Not only that, but because of the reporting period, Suning's investment in Wanda business has been transferred into equity law accounting, resulting in an increase of 134.30% in off balance revenue.

At the end of the reporting period, all the subsidiary suning.com's "Suning international" paid the transfer price. The Suning international and the transferor agreed to complete the delivery process of Carrefour's 80% stake in accordance with the "share subscription agreement".

Meanwhile, Suning holding subsidiary Suning financial services (Shanghai) Co., Ltd. (hereinafter referred to as "Suning gold clothing") has completed the capital increase and stock expansion work. The company owns 41.15% of sunning gold clothing and sunning gold clothing becomes the controlling subsidiary company of Suning golden control investment company. At the end of June, suning.com completed the equity transfer of Suning boutique, and the company owns 35% of Suning boutique.