Suning Technology Awarded Pioneer of digital Enterprise Transformation for its Smart Retail Practice

NANJING,China,Dec. 19,2019 --Suning Technology,subsidiary of Suning Holdings Group,the commercial giant ranked top three in China's top non-state-owned enterprises and owners of Suning.com (002024.SZ),a Fortune Global 500 retail company,was recently awarded "Pioneer of Digital Enterprise Transformation" by Harvard Business Review for its smart retail practice.

DrJack Jing,Executive Vice President of Suning Technology Group,said:"As the largest omni-channel retailer inChina,we know that smart retail is the key to attracting and satisfying consumers in the digitalized era. We want to work with more partners in the industry to open up access to data,tech and tools,which can help them better understand their users and achieve business goals."

Earlier this year at CES in Las Vegas,Suning officially unveiled its new 'Retail as a Service' ('RaaS' for short) based on its Smart Retail strategy to empower the future development of the industry. Regarded as the 'Brain' of Smart Retail – the strategy is in essence an open-platform model through which partners can access Suning's portfolio of long-term accumulated technology capabilities and omni-channel operation experience.

The strategy offers the industrial practitioners such as manufacturers,SME retailers and even tech developers or service providers an integrated solution to enhance both operational efficiencies and costumer experience.

After nearly 30 years of both online and offline retail exploration,Suning now owns 10,000+ stores and 600 million + customers with full-scenario layout,and strong technology capability as its empowerment. Suning will continues to combine its industry experience with its smart retail strategy to boost industry digitalization. Adhering to the concepts of openness,collaboration and innovation,Suning is committed to reshaping the smart retail value chain and driving the development of a new business ecosystem with its technology capability.

About Suning Holdings Group

Founded in 1990,Suning is one of the leading commercial enterprises in China with two public companies in China and Japan. In 2019,Suning Holdings Group ranked as the top three brands among the top 500 non-state owned enterprises in China with annual revenues of RMB 602.5 billion (approximately EURO 77.24 billion) and continued to top the list of Internet retailing category. Adhering to the enterprise mission of "Leading the Ecosystem across Industries by Creating Elite Quality of Life for All",Suning has strengthened and expanded its core business as retail through a corporate ecosystem comprised by multiple vertical industries,including commercial real estate,financial services and sports. Suning.com,the main subsidiary pioneering in online and offline retailing,has been listed in the Fortune Global 500 for three successive years from 2017 to 2019.