Suning.com — BrandWiki

Suning.com

Overview

Suning.com Co., Ltd.

type	Public
traded as	szse: 002024
foundation	1990 (predecessor) May 15, 1996 (date of incorporation of Suning Domestic Appliance)
founder	Zhang Jindong
former name	Suning Domestic Appliance Suning Domestic Appliance (Group) Suning Appliance Chain Store (Group) Suning Appliance Suning Commerce Group
location country	China
location	Nanjing
key people	Huang Mingduan (chairman) Jun Ren (president and director) Wei Huang (secretary of president)
area served	China (including Hong Kong) and Japan
industry	Retail
num employees	69,398‡R1R‡ (2 August 2021)
revenue	CN¥252.296 billion‡R2R‡ (US$39.610 billion, 2020)
operating income	CN¥-5.015 billion‡R2R‡ (US$787 million, 2020)
net income	CN¥-4.275 billion‡R2R‡ (US$671 million, 2020)
assets	CN¥212.075 billion‡R2R‡ (US$33.295 billion, 2020)
equity	CN¥76.831 billion‡R2R‡ (US$12.062 billion, 2020)
divisions	Suning Commerce R&D Center USA
homepage	suning.cn
footnotes	in consolidated financial statement‡R3R‡

Suning.com Co., Ltd., formerly Suning Commerce Group Co., Ltd., is one of the largest non-government retailers in China, headquartered in Nanjing, Jiangsu. Suning has more than 10,000 stores nationwide and its e-commerce platform,[4] Suning.com ranks among top three Chinese B2C companies.[5] The operation categories include physical merchandise, such as home appliances, 3C products, books, general merchandise, household commodities, cosmetics and baby care products, content products and service merchandise with the total number of SKU exceeding 3 million. It was listed on the Shenzhen Stock Exchange in 2004.[6][7] In 2021, Suning.com ranked 328th on the Fortune Global 500 list.[1]

Suning.com was ranked 9th on the list of the 15 Fastest Growing Ecommerce Companies in 2020 according to a report published by the international finance website "Insider Monkey",

Smart logistics

"Suning.com" Logistics is one of the leading retail logistics companies in China, with a delivery network covering 351 cities, 2858 districts and counties in China, with over 100,000 truck drivers working for the company. It has 5 warehouses just for regular deliveries in eastern China. The automatic warehouse in Nanjing covers more than 200,000 square meters, also the total area of the warehouse facility covers 9.64 million square meters. The size of the facilities justifies the number one position in the Chinese retail sector. Along with the size, is added the intelligent technology used by Suning. Over the years E-commerce platforms have revolutionized the way consumers shop, e-commerce has people ordering a product from the comfort of their home and quickly with home delivery. To date, with the Suning APP, it can count on over 600 million registered users.[47]

Suning has incorporated an intelligent system into its operations, their state-of-the-art logistics facility. The entire Nanjing Logistics Center is divided into various parts intended to perform a variety of services. The storage of goods in the center is also divided into various segments that separate the products according to type and size. Use Schaefer technologies in its own intelligent logistics center. the ASRS system developed by Schaefer automation system, a German brand of automation technology in the storage sector, expands to the automated archiving and retrieval system.[48]

The intelligent logistics center is almost fully automated with less human intervention which makes the storage process and the retrieval process for delivery extremely easy, fast and reliable. The system monitoring room has a huge screen with around 20 people working to keep the whole process smoother and faster. In the hall it has feeds from multiple cctv cameras positioned throughout the store, as well as feeds from various ASRS systems and manual worker feeds for a holistic approach to the entire logistics. The workers separate the products after receiving them from suppliers, storing them in small, medium and large piles and pallets. The workers have to scan the RFID code and then it goes for the final packaging before it can be delivered to the customers. The point that needs to be highlighted is the speed of the process because so many steps are covered in speed. Suning has a delivery of the products, purchased by the user, within twelve hours from the time of the order.[49]

Automated distribution

During the COVID-19 pandemic in mainland China, logistics and distribution grew significantly under the catalysis of the "rule of self-isolation". According to large-scale consumption data in epidemic prevention published by Suning, the volume of orders in China for Suning Convenience Stores increased by 419.6% year on year, and the volume of "order online and collect in store "of the Food Market rose by more than 655%. In the epidemic, every residential property exercised a certain level of "block", and the traditional" contactless distribution "cannot meet the current situation. The advantages of unmanned technology are significant, such that it can improve the efficiency of the transfer between logistics warehouses and consumers. As a result, unmanned logistics can accelerate its development even after the outbreak.[50]

Automated Unmanned Logistics describes its operational process from when packages leave the warehouse without personnel, are quickly transported overland to the distribution center in a driverless truck, then in the last mile they are delivered to their destination by an automated truck or drone.[50][51] In 2018, Suning had completed the actual verification of its "Xinglong One" driverless truck. Technically, "Xinglong-1" uses advanced artificial intelligence technology that assists radar, high-precision maps, cameras and sensors, and can accurately identify obstacles up to 300 meters away in high-speed scenarios.

Mobility and transport

The Suning.com company, in addition to the retail sector of household appliances and electronic products, is active in the automotive sector, luxury boats and aircraft of many categories, from business jets to civil helicopters.

Automotive

The Suning.com Auto Company (Suning Auto) division opened 20 auto supermarkets in 2018 and in the following years will increase the number of auto shows in various cities, such as Xi'an, Chongqing, Chengdu and Tianjin.[56] In addition to Chinese domestic brands, there are foreign brands in the stores, including BMW, Audi and Maserati. It also provides accessories, financial services and used cars.[57][58]

Electric mobility

In 2017, Suning invested US$200 million in favor of Chinese carmaker Byton, which produces electric vehicles, which unveiled its first concept car at the Consumer Electronics Show in Las Vegas in January 2018.[59] In August 2020, Suning entered into an agreement with the Chinese giant Nio, a Chinese car manufacturer active since 2014 based in Shanghai, specialized in the design and development of electric vehicles and which, with its own team, also participates in the world championship of Formula E. They have established a long-term partnership to strengthen strategic cooperation in various fields, including channel expansion, product sales, brand promotion, B2B cooperation, technology products and development, and create development opportunities.[60] In the "Suning Plaza Auto", in accordance with the Baojun brand, the Baojun E100 is for sale is a two-seater electric microcar, with two doors and a hatch in the rear, and a design similar to a Smart electric drive and is the first vehicle in Baojun's electric microcar series, then there is the E200 and E300 version.

Suning, in a joint venture with Alibaba Group and Tencent together with automobile manufacturers Changan Automobile, Dongfeng Motor Corporation and FAW Group collaborate for a service in the ride-sharing sector, with an investment of US$1.5 billion.[61]