E-commerce giant Suning reports double rise in net income

Chinese e-commerce giant Suning.com Wednesday announced in its quarterly report that its net income attributed to shareholders surged 94.28 percent year on year to about 11.9 billion yuan (1.69 billion U.S. dollars) in the first three quarters of 2019.

Suning.com achieved an operating income of more than 201 billion yuan from January to September, up 16.21 percent. Its sales volume of commodities totaled 275.9 billion yuan, with the online sales volume rising 24.27 percent to 171.4 billion yuan, according to the company's quarterly report.

As of September, the company had 8,407 self-operated and franchised stores in its offline footprint, plus 470 million registered subscribers for the retailing platform, after acquiring 37 nationwide stores of Wanda Department Store and an 80-percent equity stake in Carrefour China in 2019.

The number of annual active users of Suning.com increased by 48.29 percent year on year in the reporting period.

The Fortune Global 500 company has owned more than 26,000 delivery stations and operated 50 logistics bases in 41 cities, with about 11 million square meters of storage and related support areas.

Suning.com invested about 2.4 billion yuan in research and development during the same period, up 61.14 percent year on year, the company said.