NANJING, China, March 23, 2o21 – Suning Appliance Group Co. Ltd. (“Suning Appliance” or “the Company”), issued an announcement that the 17 Suning 01 bonds successfully completed resale on March 19, and paid the principal and interest of RMB 61722 million on schedule.
Market analysts pointed out that in the past four months, Suning Appliance has continuously redeemed bonds to protect the interests of investors while also stabilizing market confidence.
Since last year, Suning has made efforts to make payment for bonds. In November 2020, Suning.com Co. Ltd. completed multiple payments totaling RMB 3 billion for bond repurchases. In December, Suning Appliance repaid billions RMB of bonds before they came due. On January 8, 2021, Suning.com announced that the 2 billion repurchase plan was finally confirmed and received in time; On January 29, Suning Appliance Group announced that 19 Sudian 01 Bonds have successfully completed repurchase, with a resale amount of RMB 900 million. On February 2 Suning repaid RMB1.328 billion of principal and interest for 16 Suning 01 bonds that came due on February 1.
So far, Suning has completed multiple bond repurchases and redemptions within 4 months, with a cumulative amount of over RMB 18 billion.
Since 2020, with the impact of the pandemic, Suning has fully leveraged its smart retail capabilities and maintained a momentum of rapid development throughout all its channels. According to Suning.com’s 2020 financial performance report, the company achieved a sales volume of RMB 416.315 billion throughout the year, a year-on-year increase of 9.92%. The annual online sales volume was RMB 290.335 billion, a year-on-year increase of 21.60%. In the fourth quarter, Suning.com’s operating income grew by 13.75% year-on-year, and the scale of product sales on its affiliated Yun Wang Wan Dian platform increased by 33.67% year-on-year. In addition, benefiting from surged sales in the fourth quarter and improved operating cash flow, Suning.com expects that the net cash flow from operating activities in 2020 will become positive.