Suning.com (002024.SZ), China's leading O2O smart retailer, owned by Suning 
Holdings Group, released 2020 Q1 financial result. According to the report, 
Suning.com achieved revenue of RMB57.839 billion (USD8.172 billion) and GMV of 
RMB88.672 billion. Among which, GMV of online open platform reached to 
RMB24.168 billion, increasing by 49.05% YoY. Facing the outbreak of the 
pandemic, Suning.com positively sought for changes. The company vigorously 
developed the online business and home delivery service. The GMV of online 
business attained to RMB61.04 billion, accounting for 68.85% of total business.

In the face of the pandemic, Suning.com fully took advantages of accumulated 
full-scenario Internet operational capabilities, full-category products and 
self-operated logistics. Moreover, the company discovered the community 
consumption business, developed the home delivery service and enhanced the 
ecological brand partnership. Thanks to the transformations, the commodity 
scale of Suning.com increased gradually, far better than the industrial average 
level, demonstrating the strength and potential of Suning's full-scenario smart 
retail business.

During the Q1 2020, Suning.com guaranteed consumers with abundant products and 
non-stop operation. Suning Carrefour and Suning Convenience Store optimized the 
supply chain and assured the logistics needs for more than 100 cities. 
Regarding to the consumption demand of lazy economy, Suning.com fully optimized 
its home services from IT technology to products structure, establishing a 
supply chain integration of store and warehouse, making sure the delivery 
timeliness and bringing more online traffics and a better reputation for the 
platform. In Q1, new registered members of Suning.com reached to 23 million 
while total members surpassed 578 million. Especially, monthly active users 
increased by 36.87% YoY. In addition, Suning Carrefour has achieved two 
consecutive quarterly profits and the home-delivery service has gained a 
prominent performance, accounting for 10% of total Carrefour sales in March. 
What's more, the business scale of Suning.com FMCG category achieved a growth 
by 167.99% YoY.

In the first quarter of 2020, Suning.com made strategic changes and maintained 
operational edges by accelerating expansion in the lower-tier market and 
discovering new business model. During the reporting period, the company 
encouraged employees from stores to selling through live streaming, promoting 
194.84% of growth of Tuike (Community Recommendation) business. Meanwhile, the 
number of new Retail Cloud franchises reached to 466 and total franchises 
attained to 4,963. Moreover, Suning logistics formed a service of diversity and 
high efficiency, partnering with many corporations of home appliance, 3C, 
furniture, food and general merchandise.

The Chairman of Suning.com Group, Zhang Jindong mentioned that the outbreak of 
the pandemic has caused a huge economic impact in the short term, which will 
not affect the long-term prospective development of China's economy. In 2020, 
the purpose of Suning will continue to seek for stable development and steady 
investment, strengthening the construction of infrastructure and implementing 
its business of openness and integration. Suning will keep enhancing the 
full-scenario development and enlarging the output of resource capability.

SOURCE:Suning.com