BEIJING, Aug. 31 (Xinhua) -- Suning.com Co., Ltd. (002024. SZ), one of the leading online retailers in China affiliated with Suning Holdings Group, said Thursday that its net profit increased 1,959.41 percent year-on-year to 6.0 billion yuan in the first half of 2018.
The sharp increase is attributed mainly to the company's sale of 7.66 million shares in e-commerce giant Alibaba in May.
According to its semi-annual report, it made a net profit of 5.6 billion yuan in the transaction. Excluding the net profit from the stake sale, net profit rose 37.95 percent to 402 million yuan.
Suning.com's operating revenue increased 32.16 percent on a yearly basis to 110.68 billion yuan in the January-June period. Sales revenue reached 151.24 billion yuan, up 44.55 percent.
A Suning insider said the retailer accelerated expansion by opening around 1,900 new stores in the first half of the year. (Edited by Wu Shuang, wushuang2018@xinhua.org; Ding Lei, dinglei@xinhua.org)
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