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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  Suning.com Co., Ltd.    002024   CNE000001KF2

SUNING.COM CO., LTD.

(002024)
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Chinese consumers urged to splurge as economy begins path to normality

03/25/2020 | 12:31am EST
People wearing protective masks walk in a shopping district in Beijing

Electronics stores, coffee chains and even local authorities in China are slashing prices and handing out millions of dollars worth of discount coupons to kick start an economy battered by gradually easing, virus-fighting restrictions on movement.

GOME Retail Holdings Ltd and Suning.com Co Ltd plan to hand out over 620 million yuan ($88 million) worth of vouchers, while Alibaba Group Holding Ltd's Alipay is giving away 10 million discount tokens for 10,000 retailers on its app.

JD.com Inc said from Thursday it will give out 1.5 billion yuan ($212 million) worth of coupons for branded goods in categories including electronics.

Even the railway authority will from Wednesday cut ticket prices by as much as 45%, while local governments such as those of Hebei, Zhejiang and Guangxi provinces are giving out vouchers for tourist attractions, cinemas and shops.

"We've launched some discounted set offers to consumers in recent days, hoping to help consumers getting back to their normal life," a Pacific Coffee chain spokeswoman said, referring to a coffee-and-bun deal priced as low as 20 yuan ($2.83).

The promotions reflect concern that the outbreak has depressed consumer appetite and could have a lingering impact, even as the number of new locally transmitted cases has dropped.

About 500 cinemas reopened over the weekend after being shut for almost two months but took in just 30,000 yuan ($4,245) on Saturday, local media reported.

Retail sales in the world's second-largest economy shrank by a fifth in January-February from the same period a year earlier, government data showed, during which time China began taking dramatic measures to curb the spread of the virus, shutting transport links and asking millions of people to stay home.

The government has loosened restrictions in recent weeks which is encouraging consumers to venture back into malls and restaurants, albeit amid concerns over job security and potential wage cuts brought about by a struggling economy.

"Trade, tourism catering and other services not only help to prop up an economy's growth, but also embody a city's vitality," financial magazine Yicai reported Zhang Jinghua, party secretary of Nanjing, as saying in early March, days before the eastern Chinese city announced it would give away 318 million yuan worth of shopping coupons in a lottery-style scheme.

He stressed the need to grasp the balance between epidemic prevention and rehabilitation and to create a safe and secure consumer environment. The city later said it believed its move boost consumption by nearly 10 million yuan in five days.

(Reporting by Sophie Yu and Brenda Goh; Additional Reporting by Shanghai Newsroom; Editing by Christopher Cushing)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMP LIMITED -3.12% 1.71 End-of-day quote.-10.70%
AT HOME GROUP INC. -3.79% 17.995 Delayed Quote.238.00%
GOME RETAIL HOLDINGS LIMITED 0.00% 0.89 End-of-day quote.23.61%
JD.COM, INC. 1.70% 86.31 Delayed Quote.139.51%
JUST GROUP PLC 2.93% 57.9 Delayed Quote.-28.80%
LETS HOLDINGS GROUP CO., LTD. -0.11% 9 End-of-day quote.49.01%
LOOK HOLDINGS INCORPORATED 1.63% 995 End-of-day quote.-20.53%
SUNING.COM CO., LTD. 0.11% 9.09 End-of-day quote.-10.09%
THE EASTERN COMPANY 0.75% 21.51 Delayed Quote.-30.40%
WILL GROUP, INC. 0.40% 994 End-of-day quote.-20.61%
WORLD CO., LTD. 2.93% 1370 End-of-day quote.-49.09%
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Financials
Sales 2020 280 B 42 798 M 42 798 M
Net income 2020 1 079 M 165 M 165 M
Net cash 2020 259 M 39,6 M 39,6 M
P/E ratio 2020 74,7x
Yield 2020 0,29%
Capitalization 82 942 M 12 638 M 12 679 M
EV / Sales 2020 0,30x
EV / Sales 2021 0,25x
Nbr of Employees 42 196
Free-Float 29,4%
Chart SUNING.COM CO., LTD.
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Suning.com Co., Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends SUNING.COM CO., LTD.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 14
Average target price 11,83 CNY
Last Close Price 9,09 CNY
Spread / Highest target 54,0%
Spread / Average Target 30,2%
Spread / Lowest Target 4,51%
EPS Revisions
Managers
NameTitle
En Long Hou President
Jin Dong Zhang Chairman
Xiao Ling Wang Chairman-Supervisory Board
Wei Min Sun Vice Chairman
Xiang Sheng Meng Director & Senior Vice President
Sector and Competitors
1st jan.Capitalization (M$)
SUNING.COM CO., LTD.-10.09%12 625
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