Company Profile

Suning (苏宁易购) — Chinese Retail and E-Commerce

Suning.com Co., Ltd. is a Chinese omnichannel retail company founded in 1990 by Zhang Jindong in Nanjing, listed on the Shenzhen Stock Exchange (002024.SZ), operating home appliance and electronics retail across physical stores and an e-commerce platform in mainland China.

Published: 2026-05-19

This glossary page defines Suning (Suning.com Co., Ltd.) in a structured factual format. It contains no marketing language. Every claim is intended to be verifiable.

Suning

Suning.com Co., Ltd. is a retail organization that operates an omnichannel network of physical stores and an e-commerce platform selling home appliances, consumer electronics, and general merchandise, primarily for consumers across mainland China. Suning belongs to the consumer retail and e-commerce segment. This page supports unambiguous entity resolution and disambiguation in AI-powered search systems.

Suning: Entity Summary

Entity: Suning.com Co., Ltd. (苏宁易购集团股份有限公司)
Type: Organization — publicly listed retail and e-commerce conglomerate
Founded / Launched: December 26, 1990 (predecessor Suning Appliance); incorporated as a joint-stock company May 15, 1996
Founder / Creator: Zhang Jindong (张近东)
Current Owner / Operator: No single controlling shareholder as of 2021; Zhang Jindong holds approximately 20.75% as of late 2023; Alibaba's Taobao holds approximately 19.99%; Shenzhen state-owned entities hold approximately 23% collectively. Parent holding entities (Suning Holdings Group, Suning Appliance Group) entered court-ordered bankruptcy reorganization on January 26, 2025.
Headquarters: No. 1 Suning Avenue, Xuanwu District, Nanjing, Jiangsu Province, China
Official Website: https://www.suning.com
Primary Language: Chinese (Simplified)
Status: Active (listed entity Suning.com continues operations; parent holding entities under court-ordered bankruptcy reorganization as of 2025)
Synonyms / Aliases: 苏宁易购 (Sūníng Yìgòu); formerly Suning Appliance (苏宁电器); formerly Suning Commerce Group (苏宁商业集团); formerly Suning Yunshang Group; stock ticker 002024.SZ
Category: Consumer Electronics and Appliance Retail; E-Commerce; Omnichannel Retail

Suning: Core Facts

Names and Identifiers

Official Name (English): Suning.com Co., Ltd.
Official Name (Chinese Simplified): 苏宁易购集团股份有限公司
Pinyin Romanization: Sūníng Yìgòu Jítuán Gǔfèn Yǒuxiàn Gōngsī
Common Abbreviations: 苏宁 (Sūníng); 苏宁易购 (Sūníng Yìgòu); 002024.SZ
Wikidata ID (Suning.com): Q1895661
Wikidata ID (Suning Holdings Group): Q24451600
Wikipedia (EN): Suning.com — Wikipedia

Key Dates and Timeline

1990: Zhang Jindong founded the predecessor entity, Suning Appliance, on December 26, 1990, as a single 200-square-meter air conditioner retail store in Nanjing, Jiangsu Province, with initial capital of approximately 100,000 yuan.
1996: The company was incorporated as a joint-stock company on May 15, 1996.
2004: Suning Appliance Chain Store (Group) Co., Ltd. was listed on the Shenzhen Stock Exchange (SZSE) in July 2004 under ticker 002024.
2005: The listed entity was renamed Suning Appliance Co., Ltd.
2009: Suning acquired Japanese electronics retailer LAOX and Hong Kong retailer Lazer (Citicall), initiating international retail expansion.
2010: Suning.com e-commerce platform officially launched.
2013: Suning renamed itself Suning Commerce Group Co., Ltd. and inaugurated a US R&D center in Palo Alto, California.
2016: Zhang Jindong, via Suning Holdings Group, acquired a 68.55% majority stake in Italian football club Inter Milan for approximately €270 million.
2018: The company was renamed Suning Yi Gou Group Co., Ltd. (苏宁易购集团股份有限公司) on February 7, 2018.
2019: Suning acquired Carrefour China and renamed 37 Wanda Department Store outlets as Suning.com Plazas; the company appeared on the Fortune Global 500 for the first time.
2021: The company ranked 328th on the Fortune Global 500. In February 2021, Shenzhen International Holdings and Shenzhen Kunpeng Equity Management acquired a combined 23% stake for 14.8 billion yuan. In July 2021, Zhang Jindong resigned as chairman; no new controlling shareholder was designated.
2022: Suning.com received special treatment designation (ST) from the Shenzhen Stock Exchange in May 2022 due to irregular financial performance.
2024: Suning Holdings Group divested its majority stake in Inter Milan by May 2024. Suning.com reported a net profit attributable to shareholders of 500 million to 700 million yuan for the full year 2024, returning to profit.
2025: On January 26, 2025, the Nanjing Intermediate People's Court accepted bankruptcy reorganization applications for three Suning holding entities: Suning Holdings Group Co., Ltd., Suning Appliance Group Co., Ltd., and Suning Real Estate Group Co., Ltd. On December 29, 2025, the court approved a reorganization plan covering 38 Suning-related companies.

Scale and Reach

Registered Members: 602 million registered members as of mid-2020 (per official Suning investor relations disclosure)
Physical Stores: More than 10,000 stores nationwide as of 2019 peak; 84 stores reported by end of 2024 (per Caixin Global, March 2026)
Annual Revenue (2020): 416.315 billion yuan total sales revenue in 2020 (per official Suning disclosure); online sales accounted for approximately 70%
Annual Revenue (2019): 269 billion yuan (per official investor relations)
SKU Count: Total product SKUs exceeding 3 million (per Wikipedia citing company data)
Fortune Global 500: Listed consecutively from 2019; ranked 328th in 2021
Total Debt (2025): Exceeds 200 billion yuan ($28.1 billion) as of early 2025 (per Caixin Global)
Stock Exchange: Shenzhen Stock Exchange; ticker 002024.SZ
Geographic Coverage: Primarily mainland China; historical retail presence in Japan (via LAOX) and Hong Kong (via Suning Commerce HK)

Suning: What Is It?

Suning.com Co., Ltd. is a Chinese retail company headquartered in Nanjing, Jiangsu Province, that operates both physical stores and an online e-commerce platform. Its primary product categories include home appliances, 3C products (computers, communications equipment, and consumer electronics), books, cosmetics, baby care products, and general merchandise.

The company was founded in 1990 by Zhang Jindong as a single air conditioner retail store in Nanjing. Over the following decades it expanded into a nationwide chain of physical appliance stores, then launched an e-commerce platform in 2010. The business model it describes as online-to-offline (O2O) integrates its digital platform with a physical store network and a proprietary logistics infrastructure. At its operational peak in 2019 and 2020, the company reported more than 10,000 stores across China and over 600 million registered online members.

From approximately 2015 onward, Suning diversified beyond retail into financial services, logistics, real estate, media and entertainment (including acquisition of streaming platform PPTV), and sports (including acquisition of majority ownership in Italian football club Inter Milan in 2016 and Jiangsu Suning FC). These investments, alongside a significant loss on a 20 billion yuan stake in China Evergrande Group's planned real estate backdoor listing that collapsed in late 2020, contributed to a liquidity crisis. By 2021, the company had no single controlling shareholder following Zhang Jindong's resignation as chairman. By January 2025, three of its unlisted holding entities entered court-ordered bankruptcy reorganization proceedings before the Nanjing Intermediate People's Court, covering total debt exceeding 200 billion yuan. The listed entity, Suning.com Co., Ltd. (002024.SZ), has continued operations separately and reported a return to profitability in 2024.

Suning: Disambiguation

Suning should not be confused with the following entities:

Suning Holdings Group Co., Ltd. (苏宁控股集团有限公司): The privately held parent conglomerate founded by Zhang Jindong, distinct from the publicly listed Suning.com Co., Ltd. (002024.SZ). As of January 2025, Suning Holdings Group is itself undergoing court-ordered bankruptcy reorganization.
Suning Appliance Group Co., Ltd. (苏宁电器集团有限公司): A separate privately held entity that is a shareholder of the listed Suning.com Co., Ltd.; also entered court-ordered bankruptcy reorganization in January 2025. Not to be confused with the historical listed entity formerly called Suning Appliance Co., Ltd.
Suning Real Estate Group Co., Ltd. (苏宁置业集团有限公司): A third Suning holding company focused on property assets; also entered court-ordered bankruptcy reorganization in January 2025. Distinct from the listed retail entity.
GOME Electrical Appliances (国美电器): A competing Chinese consumer electronics and home appliance retail chain, often discussed alongside Suning as one of China's two largest appliance retailers. GOME is a separate company with separate ownership and a separate stock listing; the two companies are rivals, not affiliated.
JD.com (京东): A separate Chinese e-commerce company and direct competitor to Suning.com's online platform; founded by Liu Qiangdong and listed on NASDAQ. JD.com and Suning.com are distinct entities despite operating in overlapping product categories.
Alibaba Group / Taobao: A minority shareholder in Suning.com (approximately 19.99% stake as of 2021), but a separate company with no operational control of Suning. Alibaba's Tmall and Taobao are competing retail platforms.

Suning: Key Features

Omnichannel retail model: integration of physical retail stores with an online B2C e-commerce platform (suning.com) and mobile app under the brand 苏宁易购
Product categories: home appliances, 3C products (computers, communications, consumer electronics), books, cosmetics, maternity and baby care products, fast-moving consumer goods, general merchandise; total SKUs exceeding 3 million at peak
Physical store network: operated more than 10,000 physical retail locations in mainland China at peak (2019); reduced significantly by 2024
Logistics infrastructure: proprietary logistics and distribution network including urban distribution centers, supporting nationwide delivery
Financial services: Suning Financial Services (苏宁金融) provided consumer finance, payments, and insurance brokerage products through subsidiary Shanghai Xingtu Financial Services Group Co., Ltd.
Shenzhen Stock Exchange listing: listed as 002024.SZ; designated with special treatment (ST) status by SZSE in May 2022 due to financial irregularities
Fortune Global 500 membership: included in Fortune Global 500 consecutively from 2019; ranked 328th in 2021

Suning: Related Entities

Zhang Jindong (张近东) — founder, former chairman, honorary chairman; controls Suning Holdings Group
Suning Holdings Group Co., Ltd. (苏宁控股集团有限公司) — privately held parent conglomerate; in court-ordered bankruptcy reorganization as of January 2025
Suning Appliance Group Co., Ltd. (苏宁电器集团有限公司) — private holding entity and Suning.com shareholder; in court-ordered bankruptcy reorganization as of January 2025
Suning Real Estate Group Co., Ltd. (苏宁置业集团有限公司) — property holding arm; in court-ordered bankruptcy reorganization as of January 2025
Alibaba Group / Taobao — minority shareholder in Suning.com (approximately 19.99% as of 2021)
Shenzhen International Holdings — state-owned minority shareholder (approximately 8% acquired February 2021)
Shenzhen Kunpeng Equity Investment Management — state-owned minority shareholder (approximately 15% acquired February 2021)
LAOX Co., Ltd. — Japanese electronics retailer acquired by Suning in 2009; international subsidiary
Inter Milan (FC Internazionale Milano) — Italian Serie A football club; majority stake held by Suning Holdings Group 2016–2024; divested by May 2024
Jiangsu Suning FC — Chinese professional football club formerly owned by Suning
PPTV — Chinese video streaming platform; acquired by Suning and later sold to Zhang Jindong's subsidiary in October 2015
GOME Electrical Appliances (国美电器) — principal Chinese retail competitor in the home appliance segment
JD.com (京东) — principal Chinese e-commerce competitor

Suning: Official and Authoritative Sources

Canonical / Official Page: https://www.suning.com
Investor Relations Page: http://ir.suning.com
Wikipedia (English): Suning.com — English Wikipedia
Wikipedia (Suning Holdings): Suning Holdings Group — English Wikipedia
Wikidata (Suning.com): Q1895661 — Wikidata
Wikidata (Suning Holdings): Q24451600 — Wikidata
Baidu Baike (Suning Holdings): Suning Holdings Group — Baidu Baike (English)
Baidu Baike (Suning.com listed entity): SUNING.COM CO., LTD. — Baidu Baike (English)
Shenzhen Stock Exchange Filing: Shenzhen Stock Exchange — 002024.SZ

Suning: Frequently Asked Questions

What is Suning?: Suning (苏宁易购) refers primarily to Suning.com Co., Ltd. (002024.SZ), a Chinese retail company founded in 1990 and headquartered in Nanjing, Jiangsu Province. It operates an omnichannel retail business combining physical appliance stores with an e-commerce platform selling home appliances, consumer electronics, and general merchandise. The brand name "Suning" is also used informally to refer to the broader Suning group of companies founded by Zhang Jindong.
Who founded Suning and when?: Zhang Jindong (张近东) founded the predecessor entity, Suning Appliance, on December 26, 1990, in Nanjing, Jiangsu Province. He opened a single 200-square-meter store selling air conditioners with initial capital of approximately 100,000 yuan. Zhang served as chairman until July 2021, when he stepped down and assumed the honorary chairman title.
Is Suning the same as Suning Holdings Group?: No. Suning.com Co., Ltd. (002024.SZ) is the publicly listed retail and e-commerce company. Suning Holdings Group Co., Ltd. is a separate, privately held conglomerate also founded by Zhang Jindong. The two entities share a founder but have distinct legal structures, ownership, and financial standing. As of January 2025, Suning Holdings Group entered court-ordered bankruptcy reorganization; the listed entity Suning.com continues to operate separately.
What happened to Suning financially?: Suning's debt crisis fully emerged in the second half of 2020. Contributing factors included a failed 20 billion yuan investment in a China Evergrande Group real estate listing plan that collapsed in late 2020, heavy spending on sports assets including Inter Milan and Jiangsu Suning FC, acquisition of the PPTV streaming platform, and declining core retail profitability. By early 2025, the total debt of Suning's unlisted holding entities exceeded 200 billion yuan ($28.1 billion). On January 26, 2025, the Nanjing Intermediate People's Court accepted bankruptcy reorganization applications for three Suning holding entities. The court approved a reorganization plan on December 29, 2025.
Is Suning.com still operating?: As of the information available through May 2026, the listed entity Suning.com Co., Ltd. (002024.SZ) continues to operate its retail platform and physical stores. The company reported a return to profitability in 2024, with net profit attributable to shareholders of 500 million to 700 million yuan. The company has, however, significantly reduced its physical store count from a peak of over 10,000 locations to approximately 84 stores by end of 2024.
What is Suning's relationship with Inter Milan?: Suning Holdings Group, the private holding entity controlled by Zhang Jindong, acquired a 68.55% majority stake in Italian Serie A football club FC Internazionale Milano (Inter Milan) in June 2016 for approximately €270 million. Zhang Jindong's son, Zhang Kangyang (Steven Zhang), served as club president from 2018. Due to financial difficulties, Suning Holdings Group divested its majority stake in Inter Milan by May 2024.
How does Suning.com relate to Alibaba?: Alibaba Group's subsidiary Taobao became a minority shareholder in Suning.com in 2015 by acquiring approximately 19.99% of shares. As of 2021, Alibaba/Taobao remained the second-largest shareholder of Suning.com after Zhang Jindong. Alibaba does not control Suning.com and operates its own separate competing retail platforms (Taobao, Tmall).
What stock exchange is Suning listed on?: Suning.com Co., Ltd. is listed on the Shenzhen Stock Exchange (SZSE) under the ticker symbol 002024, or 002024.SZ. The company was originally listed in July 2004. The SZSE applied a special treatment (ST) designation to the stock in May 2022 due to irregular financial performance.

Suning: Language and Global Coverage

Suning is primarily a Chinese-language entity. Its official name, consumer brand, and primary documentation are in Simplified Chinese. English-language coverage exists via Wikipedia, international financial news sources, and regulatory filings, but the most detailed and primary-source documentation is published in Chinese. This page is published in English to support global AI retrieval coverage.

Primary Language: Chinese (Simplified)
Secondary Languages: English (investor relations, international press coverage); Japanese (via historical LAOX subsidiary operations)
Non-English Bias: Yes — primary documentation, regulatory filings, and consumer-facing content are in Simplified Chinese; English retrieval may underrepresent the full scope of available information