Suning Holdings Group Ranks Second on China's Top 500 Non-state Owned Enterprises List in 2020
NANJING, China, Sept. 14, 2020 /PRNewswire/ -- Suning Holdings Group ("Suning"), one of the leading commercial enterprises in China, has ranked second on the All-China Federation of Industry and Commerce (ACFIC) annual list of the nation's Top 500 non-state owned enterprises. Suning achieved a revenue of RMB 665.259 billion (USD 97 billion) and continued to top the list of Internet retailing category. This is the 11th consecutive year that Suning has appeared on the ACFIC's list. In August, Suning.com, one of its main subsidiaries, was featured in the Fortune Global 500 List for the fourth year running.
A leader in China's private services sector: "service is our only product"
Founded in 1990, Suning celebrates its 30th anniversary this year. Suning announced earlier that Suning.com will upgrade from "smart retailer" to "smart retail service provider" and transform the brand vision to focus on providing exceptional service.
This service-provider model has allowed Suning.com to weather the challenges of the COVID-19 pandemic. Suning.com shared its smart retail solution: a full-scenario integrated sales model established with Carrefour during the pandemic, which combines IoT, big data, artificial intelligence and other cutting-edge technologies. With rapid one-hour delivery within a fixed radius, improved at-home offering and contactless services, Suning.com's model has empowered small-to-medium enterprises and supplier partners to leverage smart retail capabilities
Suning: serving the global market and consolidating the smart retail ecosystem
In recent years, Suning.com has proactively explored smart retail models through the in-depth integration of online and offline full-scenario retail. Suning.com has also harnessed digital technology to accelerate its social marketing matrix through channels such as in-store live streaming.
Looking ahead, the continued rise of digital technology and the acceleration of industrial integration will only further promote the rapid development of the service economy. As the leading company in China's services sector, Suning is well-placed to navigate the new era of cloud-based, open development with its five core capabilities of scenario, supply chain, marketing, logistics and finance.
Zhang Jindong, chairman of Suning Holdings Group, said: "We will further enhance the penetration and application of digital capabilities in the entire retail chain and across all scenarios, while participating in the global service value chain. Suning will leverage our advantages in all categories, scenarios and customer segments to better serve the global consumer market."
About Suning Holdings Group
Founded in 1990, Suning is one of the leading commercial enterprises in China with two public companies in China and Japan. In 2020, Suning Holdings Group ranked second in the top 500 non-state owned enterprises in China with annual revenues of RMB 665.259 billion (approximately US $97 billion) and continued to top the list of Internet retailing category. Adhering to the enterprise mission of "Leading the Ecosystem across Industries by Creating Elite Quality of Life for All", Suning has strengthened and expanded its core business as retail through a corporate ecosystem comprised by multiple vertical industries, including commercial real estate, financial services and sports. Suning.com, the main subsidiary pioneering in online and offline retailing, has been listed in the Fortune Global 500 for four successive years from 2017 to 2020.