Last Updated -
February 16, 2026
Explore the business model, global strategy, and market performance including insights into its position in China.
Founded in 1990 by Zhang Jindong and headquartered in Nanjing, Suning.com Co., Ltd. (苏宁易购) is a listed Chinese retailer focused on home appliances and 3C consumer electronics across online and offline channels. Over time, it expanded from appliance stores into an omnichannel model that combines Suning.com with a nationwide store network and service capabilities such as delivery, installation, and after-sales support.
Suning’s physical footprint spans large-format “Suning Max” and “Suning Pro” stores, community-oriented formats, and county-level coverage through its Retail Cloud franchise network. In its 2025 interim report, Suning said it refurbished or opened 37 Suning Max and Suning Pro stores and continued to roll out “Suning Fun” and “Suning Home” formats. As of June 30, 2025, Suning reported 10,100 Retail Cloud franchise stores, underlining its push into lower-tier cities and township markets.
Since a 2021 restructuring, Suning reports that it has had no controlling shareholder and no actual controller. In 2024, it reported RMB 56.79 billion in revenue and RMB 610.6 million in net profit attributable to shareholders, alongside RMB 4.59 billion in operating cash flow, marking a return to profitability versus 2023.
Suning.com runs an omnichannel retail model built around home appliances and 3C consumer electronics, with revenue driven mainly by merchandise sales across stores and Suning.com. It also generates service income such as chain-store services, rent, IT services, agency fees, and financial-service related fees, which the company reports as revenue deductions and other income items. Suning frames its current strategy as a “retail service provider” approach that prioritizes channel coverage, supply-chain capability, and household delivery and installation services.
Suning remains a recognized national specialist in appliances and 3C, but it competes in a price-led market shaped by platform subsidies and fast-changing traffic sources. Demand is also tied to policy cycles, with the latest trade-in stimulus cited as a near-term tailwind for store traffic and appliance upgrades. On ownership, Alibaba shifted its Suning stake inside the group in 2024, and its affiliate later disclosed a plan to reduce holdings, signaling a looser strategic link than the earlier alliance narrative.
Suning.com is primarily a China-focused retailer, combining a nationwide appliance and 3C store network with Suning.com and service-led fulfillment. In H1 2025, the company reported RMB 25.9 billion in revenue and RMB 48.7 million net profit attributable to shareholders. Its Retail Cloud franchise network reached 10,100 stores as of June 30, 2025, alongside 895 directly operated appliance and 3C stores and 37 Suning Plaza locations.
Pricing pressure remains high as the company flags intense competition, channel fragmentation, and persistent low-price subsidies in China’s retail market.
Suning’s near-term trajectory is tied to China’s consumer trade-in stimulus and to its own push to rebuild retail profitability through higher store productivity, tighter supply-chain control, and service-led differentiation. In 2024, Suning reported RMB 56.79 billion in revenue and a return to positive net profit attributable to shareholders. In H1 2025, it reported RMB 25.89 billion in revenue and RMB 48.7 million net profit attributable to shareholders, while continuing debt-resolution work through restructuring and disposals.
This Company Profile was written by Dominik Diemer
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