Founded 2011 | ||
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Predecessor Divisions of Suning Group Key people Zhang Jindong (Chairman) Profit minus CN¥88 million (Q1–3 2015) Total assets CN¥4.062 billion (Q1–3 2015) Total equity minus CN¥226 million (Q1–3 2015) Type of business | ||
Suning Holdings Group Co., Ltd. (Chinese: 苏宁控股集团有限公司) is a Chinese holding company which owned an equity stake of 3.33% in Suning Commerce Group (Chinese: 苏宁云商; ex-苏宁电器股份). As at the first quarter 2016, Zhang owned 100% stake in Suning Holdings. Suning Holdings had a share capital of CN¥1 billion as at 20 June 2016, increased from CN¥50 million.
Contents
- Operations
- Suning Rundong
- Suning Culture Investment Management
- Suning Jinkong
- Suning Sports
- Sister companies
- References
The holding company is also famous for the acquisition of Inter Milan.
The company also shared almost the same name with sister company Suning Appliance Group (Chinese: 苏宁电器集团有限公司), which Zhang owned 48.10% stake as the second largest shareholder. Suning Appliance Group was the second largest shareholder of the Suning Commerce Group, after Zhang, until June 2016. It was owned by ex-senior staff of Suning Commerce Group as at 2002. Since circa 2015, it was owned by Bu Yang (49.1%), Zhang (48.1%) and Sun Weimin (2.8%), the three senior official of Suning Commerce Group.
Operations
In June 2016 Suning Holdings signed a framework agreement with the government of Shandong Province.
Suning Rundong
Suning Holdings, via a subsidiary, Suning Rundong (pinyin: Sūníng rùndōng gǔquán tóuzī guǎnlǐ yǒuxiàn gōngsī), subscribed the capital increase of Nubia Technology, a subsidiary of ZTE for CN¥1.930 billion in December 2015. After the deal Suning Rundong owned 33.33% stake in Nubia. Nubia Technology sold mobile phone branded "Nubia".
In 2016 Nubia became a sponsor of Jiangsu Suning F.C., a sister company of Suning Rundong for a reported CN¥150 million.
In April 2016 Suning Rundong sold 4.90% stake in Nubia to Suning Commerce for CN¥283.7 million.
Suning Holdings owned 70% stake in Suning Rundong, Suning Commerce owned 10% and Chen Yan (Chinese: 陈艳) owned 20% stake.
Suning Culture Investment Management
Suning Culture Investment Management (Chinese: 苏宁文化投资管理有限公司) is 90% owned by Suning Holdings Group and 10% owned by Chen Yan.
Suning Culture Investment Management invested 19.6 million RMB for 10% stake in China International Broadcasting Network (CIBN, traded as Chinese: 国广东方网络(北京)有限公司), an internet television channel. The other investor of CIBN were Global Broadcasting Media Group (Chinese: 国广环球传媒控股有限公司, a joint venture (50–50) of China Radio International and Chinese: 金正源联合投资控股有限公司, literally JinZhengYuan Union Investment Holding) for 34.0004% stake, Huawen Media Investment for 30.9996% stake, the operator of Youku (Chinese: 合一信息技术(北京)有限公司) for 10% stake and a subsidiary (Chinese: 桂林东方时代投资有限公司) of Oriental Times Media Corporation (Chinese: 东方时代网络传媒股份有限公司) for 15% stake.
Suning Culture Investment also acquired SynaCast in 2015.
On 31 October 2015 Suning Culture Investment acquired 68.08% stake in PPTV (as PPLive Corporation) from Great Universe Limited, a wholly owned subsidiary of Suning Commerce for 2.5879931 billion RMB. PPTV secured the TV rights of La Liga in mid-2015.
Suning Jinkong
Suning Jinkong (Chinese: 苏宁金控投资有限公司, literally Suning Financial Holding), is a joint venture of Suning Holdings Group and Chen Yan. Suning Jinkong invested 35% stake in a subsidiary of Suning Commerce Group, known as Suning Jinfu (Chinese: 苏宁金融服务(上海)有限公司, literally Suning Financial Services (Shanghai) Co,. Ltd.), for 5.834 billion RMB.
Suning Sports
In 2016 Suning Holdings, via Suning Sports (Chinese: 江苏苏宁体育产业有限公司), a joint venture with Suning Appliance Group Co., Ltd., acquired a majority stake (about 70%) in Inter Milan for about €270 million, by the subscription of a capital increase and from the consortium of Erick Thohir (International Sports Capital) and the consortium of Massimo Moratti (Internazionale Holding). Suning Sports also appointed Gong Lei as a sporting director. Suning Sports had a share capital of 1 billion RMB, which the subsidiary used a Luxembourg based company Great Horizon S.á r.l. to purchase Inter, in order to avoid capital control of China.
Suning Sports became an angel investor of Champdas (traded as Shanghai Chuangbing Information Technology Co., Ltd. Chinese: 上海创冰信息科技有限公司), a company specialize in sports statistics in 2016.