Suning sees net loss of $121m in H1

Home appliances retailer Suning Commerce Group Co reported a net loss of 749 million yuan ($121.4 million) in the first half of this year, compared with a net profit of 734 million yuan in the same period in 2013, according to a filing on the Shenzhen Stock Exchange on Thursday.

Total sales revenue during the period was 51.16 billion yuan, down 7.87 percent on a yearly basis. High base number last year and the overall sluggish industry situation are main reasons behind the drop, the company said in the filing.