What happened to Suning?
Suning confirmed over the weekend that all of its soccer clubs in China will cease operations with immediate effect as it looks to refocus on its core retail business in the country amid reported financial difficulties.
Is Suning from China?
formerly Suning Commerce Group Co., Ltd. is one of the largest non-government retailers in China, headquartered in Nanjing, Jiangsu Province. Suning has more than 10,000 stores nationwide and its e-commerce platform, Suning.com ranks among top three Chinese B2C companies.
What does Suning com do?
Suning.com Co., Ltd. engages in the provision of internet retail services. It focuses on retail, finance, and logistics three business units.
Who owns Suning?
Zhang Jindong
2021 Billionaires NET WORTH Zhang Jindong chairs Suning.com, one of China’s largest appliance retailers and e-commerce companies. Suning Sports Media Group received $600 million in A-round financing in 2018 that valued the business at $2.6 billion.
Why did Jiangsu dissolve?
Chinese Super League (CSL) champion Jiangsu FC will no longer be able to operate due to financial reasons ahead of the 2021 season, the club announced on Sunday. Sources told Xinhua that retail giant Suning is in financial trouble and it will pivot its business away from sport.
Why did Jiangsu FC dissolve?
Their Champions League exit comes after Chinese FA Cup winners Shandong Taishan – formerly known as Shandong Luneng – were booted out of Asia’s top club tournament in February after breaking rules related to finances. said the Chinese FA had confirmed Jiangsu’s withdrawal from the tournament.
Who founded Suning com?
Suning.com/Founders
Who is Inter Milan owner?
Suning Holdings Group
Pirelli
Inter Milan/Owners
Is Suning selling Inter Milan?
Milan, May 20, 2021 (AFP) – Inter Milan’s Chinese owners Suning have completed a financing transaction worth €275 million ($336 million) with US investment firm Oaktree Capital, according to reports in Italy on Thursday.
How much did Shenzhen state take over Suning?
Shenzhen state-owned assets take over 23 percent of Suning’s shares for 14.8 billion yuan. /CFP Shenzhen state-owned assets take over 23 percent of Suning’s shares for 14.8 billion yuan.
Where did Suning.com get its money from?
Suning.com was in talks to buy some companies from a fund backed by Shenzhen Capital Group, it said in an exchange filing on June 23, without disclosing the details. The purchase will be funded by issuing new shares and partly by cash, the company said.
Why did Zhang of Suning com lose control?
While Zhang has been trying to stabilise the group’s finances, he is expected to lose control of Suning.com after 31 years because the share issue to Shenzhen Capital Group will dilute his holding, according to the Shenzhen Stock Exchange filing last month.
What’s the market value of Suning.com stock?
Shares of Suning.com have been suspended since June 16, pending further announcement on that deal. They last traded at 5.59 yuan in Shenzhen, the lowest in eight years. The company’s market value has dwindled to 52 billion yuan, down 75 per cent from its peak in 2015. .
