Hypermarket operator Sun Art Retail Group said on Thursday it plans to invest 1 billion yuan ($150.6 million) in e-commerce development over the next two years.

Executive Director Huang Mingduan, speaking at an earnings briefing, said he expects the company's e-commerce business to break even in 2020-21.

Sun Art, which competes with China Resources and Wal-Mart Stores Inc on the Chinese mainland, posted a 2.7 percent decline in first-half profit year-on-year.