Suning joins open platform e-commerce

Recent launch of third-party retailing platform by Suning represents a growing trend towards a hybrid business model by Chinese e-commerce firms. Photo: Reuters

An interesting transformation is taking place in China's e-commerce world, as traditional retailer Suning (Shenzhen: 002024) becomes the latest major player to launch an open platform where independent merchants can sell their wares.

Thursday, 12 September, 2013, 5:47pm

No buzz for Suning, Germany's Metro

A customer looks at television sets in a branch store of retail giant Suning in Chengdu. Photo: Xinhua

Anyone thinking of getting into China's consumer electronics retailing market might want to think again, following the latest downbeat news from homegrown giant Suning and a joint venture involving Germany's Metro Group.

28 Feb 2013 - 11:20am

Suning joins reorganisation crowd

Photo: Bloomberg

I recently wrote that 2013 could well become the year of the reorganisation for China's vibrant Internet sector, as many of the nation's top companies look to make their increasingly complex operations more efficient.

22 Feb 2013 - 12:12pm

'Tis the season to reorganize

Tencent Holdings Limited Chairman & CEO Pony Ma at a results announcement in Hong Kong on March 16, 2011. Photo: SCMP

Bottom line: The wave of reorganisations sweeping major Chinese web firms is likely to result in a period of management turmoil, resulting in less innovation on the Internet.

30 Jan 2013 - 12:13pm

Morning Clicks, August 17

Caixin -- The Bogu Kailai Case: Underwritten by Privilege Caixin editor-in-chief Hu Shuli addresses the recent trial of Gu Kailai, wife of disgraced politician Bo Xilai.

29 Aug 2012 - 3:07pm

First thing China, August 17

First thing China, August 17

Diaoyu activists to return Sunday

29 Aug 2012 - 3:07pm

Gome sinks to all-time low after warning of losses

Shares in Gome Electrical Appliances Holdings, the mainland's second-largest home appliance retailer, plunged to an all-time low after it forecast a first-half loss due to lower sales and e-commerce losses.

Gome slumped as much as 18 per cent yesterday before closing at a record low of 65 HK cents yesterday, down 14.5 per cent.

26 Jul 2012 - 12:00am

Cut to home appliance subsidy 'no problem'

The impact on the market of government plans to end a subsidy that encouraged mainland consumers to buy new home appliances would be limited, the country's leading appliance retailer said.

16 Dec 2011 - 12:00am

Property deal news hits Gome share price

Shares of Gome Electrical Appliances Holdings, China's second-largest home-appliance retailer, tumbled by as much as 14 per cent after the company announced plans to set up a venture to invest in mainland property.

Gome closed 11 per cent lower at HK$2.34 yesterday, compared with the Hang Seng Index, which fell less than 1 per cent.

29 Sep 2011 - 12:00am

Gome shares up after profit soars 66pc

Shares in Gome rose more than 8 per cent after China's second-largest home appliance retailer posted a higher-than-expected profit gain of 66 per cent in the first quarter.

The shares jumped 8.2 per cent, the most in six months, to close at HK$3.04, outperforming the Hang Seng Index, which rose 1 per cent.

28 May 2011 - 12:00am

Suning targets 2.8b yuan from share sale

Suning Appliance plans to raise 2.8 billion yuan (HK$3.17 billion) through issuing 200 million new shares at no less than 15 yuan each to institutional investors to fund retail network expansion. The Shenzhen-listed firm plans to spend 1.4 billion yuan adding 250 stores in the country and 1.01 billion yuan setting up logistic centres in Chongqing, Tianjin, Xuzhou, Chengdu and Wuxi.

20 Jun 2009 - 12:00am

Gome may miss expansion target

Gome Electrical Appliances Holding may not meet its expansion target this year and will trim acquisitions next year to preserve cash amid the global financial crisis, according to a company source.

The mainland's largest electronic appliance retailer by outlet number would add a net 140 new stores this year, below the target of 160 it set earlier, the source said.

14 Nov 2008 - 12:00am

B&Q closes stores amid weak property market

B&Q, a unit of Kingfisher, the world's third-largest home improvement retailer, closed three underperforming stores on the mainland recently as demand shrank amid the sluggish property market.

The retailer closed its outlets in Fuzhou, Qingdao and Shenzhen, a source said.

7 Nov 2008 - 12:00am

In Brief

Dell puts select machines into Suning branches, other stores

22 Apr 2008 - 12:00am

Expanding Suning to buy sites as rents rise

Suning Appliance, the mainland's second-biggest home appliance retailer, said rising rental costs meant it would expand its store network by buying rather than leasing key sites around the country.

1 Mar 2008 - 12:00am