Girish Mahajan (Editor)

Suning Commerce Group

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Type
  
Public

Industry
  
Retail

Founder
  
Zhang Jindong

Traded as
  
SZSE: 002024

Headquarters
  
Nanjing, China

Revenue
  
135.5 billion CNY (2015)

Suning Commerce Group logokorgwpcontentuploads201412Suninglogo2

Formerly called
  
Suning Domestic Appliance Suning Domestic Appliance (Group) Suning Appliance Chain Store (Group) Suning Appliance

Founded
  
1990 (predecessor) 15 May 1996 (1996-05-15) (date of incorporation of Suning Domestic Appliance)

Area served
  
China (including Hong Kong) and Japan

Stock price
  
002024 (SHE) CN¥ 10.80 +0.11 (+1.03%)31 Mar, 3:59 PM GMT+8 - Disclaimer

Subsidiaries
  
Inter Milan, Jiangsu Suning F.C.

Alibaba invests 4 6b in suning commerce group


Suning Commerce Group is one of the largest non-government retailers in China, headquartered in Nanjing, Jiangsu. Suning has more than 1600 stores covering over 700 cities of Mainland China, Hong Kong and Japan and its e-commerce platform, Suning.com ranks among top three Chinese B2C companies. The operation categories include physical merchandise, such as home appliances, 3C products, books, general merchandise, household commodities, cosmetics and baby care products, content products and service merchandise with the total number of SKU exceeding 3 million. It was listed on the Shenzhen Stock Exchange in 2004.

Contents

Inter milan takeover suning commerce group ltd buys 68 55


Business areas

Suning Commerce Group Co., Ltd. principally operates franchised retail shops of electronics appliances in China. The Company mainly offers colour televisions (TVs), audio and video (AV) players, disc players, refrigerators, washing machines, digital and information technology (IT) products, small household electronics, air conditioners, telecommunications products and other products. The company also provides installation and repair services for electronic appliances. As of December 31, 2010, the company had 1,311 stores in 231 cities across China.

Company history

1990.12.26, the predecessor of Suning was founded in Nanjing as an air-conditioner retail store . On 15 May 1996, 江苏苏宁交家电有限公司 was incorporated (literally Suning Domestic Appliance Co., Ltd.). In 2000 the company was renamed into 江苏苏宁交家电(集团)有限公司 (literally Suning Domestic Appliance (Group) Co., Ltd.) and then Suning Appliance Chain Store (Group) Co., Ltd. (Chinese: 苏宁电器连锁集团股份有限公司).

In July 2004, Suning Appliance Chain Store (Group) was listed on SZSE. As at 31 December 2004, founder and chairman Zhang Jindong owned 35.12% stake, followed by Jiangsu Suning Appliance Co., Ltd. (Chinese: 江苏苏宁电器有限公司), which was the parent company of Suning Appliance Chain Store (Group) Co., Ltd., for 18.29% stake. Chen Jinfeng (Chinese: 陈金凤) owned 8.78% stake. Moreover, Liu Xiaomeng, Zhang Jindong, Sun Weimin (CEO of Suning) and Chen Jinfeng owned 42%, 28%, 18% and 12% stake respectively in 江苏苏宁电器有限公司, as at 2002.

The company renamed into Suning Appliance Co., Ltd. (Chinese: 苏宁电器股份有限公司) in 2005.

In 2009 Suning Appliance purchased Hong Kong based retail chain Citicall (as Citicall Retail Management), which became Hongkong Suning Commerce Co., Ltd., for HK$35 million and not more than HK$180 million for fixed assets.

2011-, Suning's been gradually exploring "online and offline" multi-channel integration.

On 19 February 2013, Suning Appliance announced to change the company name to Suning Commerce Group Co., Ltd. (Chinese: 苏宁云商集团股份有限公司)

On October 2015 PPTV was sold to chairman Zhang Jindong via a subsidiary of Suning Culture Investment Management for US$398.4102 million, making a profit of RMB 1.355 billion. In 2015 financial year the comprehensive income of Suning Commerce Group in consolidated basis was just 1.01168 billion RMB.

In 2016, one of the shareholders of Suning Commerce, Suning Appliance Group, purchased the Chinese football club Jiangsu F.C., which indirectly boosted the brand of Suning Commerce.

In April 2016 Suning Commerce acquired 4.90% stake in Nubia Technology from chairman Zhang Jindong for 283.7 million RMB, proportional to Zhang's subscription in the capital increase of Nubia in December 2015.

On 3 June 2016 Suning Commerce Group issued about 1.86 billion new shares to Taobao (China) Software Co., Ltd., a subsidiary of Alibaba Group, for about 28 billion RMB.

On 6 June 2016 chairman Zhang Jindong, via his own holding company Suning Holdings Group, purchased the majority stake in Italian football club Inter Milan, which again indirectly advertised Suning Commerce into global media.

Shareholders

As of 3 June 2016
  1. Zhang Jindong
    1. direct ownership (20.96%)
    2. via Suning Holdings Group (Chinese: 苏宁控股集团有限公司) (3.33%)
  2. Taobao (China) Software Co., Ltd. (19.99%)
  3. Suning Appliance Group (Chinese: 苏宁电器集团有限公司) (15.62%)
  4. Chen Jinfeng (1.98%)
  5. others

References

Suning Commerce Group Wikipedia