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Suning.com forecasts net losses of up to RMB3.2 bln in H1

July 06, 2021


Abstract : Chinese retail giant Suning.com(002024.SZ)expected net losses of up to 3.2 billion yuan for the first half of this year, according to a stock filing released by the company on Monday.

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People visit the booth of Suning at the Consumer Electronics Show (CES) in Las Vegas, the United States, Jan. 9, 2018.(Xinhua/Li Ying)

BEIJING, July 6 (Xinhua) -- Chinese retail giant Suning.com(002024.SZ)expected net losses of up to 3.2 billion yuan for the first half of this year, according to a stock filing released by the company on Monday.

According to the company, its losses for the first half of last year stood at 167 million yuan.

The company said that it was confronted with phased challenges and difficulties during the first half of this year .

The company's sales revenue in the second quarter is estimated to plunge by more than 30 percent year on year, which resulted in a substantial decline in its gross earnings.

In 2020,  Suning.com suffered 4.3 billion yuan of net losses, compared to net profits of 9.8 billion yuan for the previous year.(Edited by Yang Yifan with Xinhua Silk Road, yangyifan@xinhua.org)

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