Suning Holdings Group

For other related companies, see Suning (disambiguation).
Suning Holdings Group Co., Ltd.
Company typePrivately held limited company
IndustryHolding company
PredecessorDivisions of Suning Appliance
Founded
  • 1990 (predecessor of Suning Appliance)
  • (2011-06-14)14 June 2011 (date of incorporation)[1][2]
FounderZhang Jindong[1]
Headquarters
Nanjing
,
China[1]
Key people
Zhang Jindong
(chairman)
RevenueCN¥665.259 billion[3]
(US$104.446 billion, 2020)
OwnerZhang Jindong (100%)[4]
Number of employees
300,000 (approx) (2019)[5]
Subsidiaries
Suning Rundong(80%)
Suning Culture Investment(90%)
→ PPTV(68.08%)
Suning Jinkong(80%)
Suning Sports(90%)
Chinese name
Simplified Chinese苏宁控股集团有限公司
Traditional Chinese蘇寕控股集團有限公司
Hanyu PinyinSūníng Kònggǔ Jítuán Yǒuxiàn Gōngsī
Literal meaningSuning Holdings Group Limited Company
Transcriptions
Standard Mandarin
Hanyu PinyinSūníng Kònggǔ Jítuán Yǒuxiàn Gōngsī
short name
Simplified Chinese苏宁控股
Traditional Chinese蘇寕控股
Hanyu PinyinSūníng Kònggǔ
Literal meaningSuning Holdings
Transcriptions
Standard Mandarin
Hanyu PinyinSūníng Kònggǔ
Websitesuningholdings.com
Footnotes / references
in separate balance sheets (unaudited)[6]

Suning Holdings Group Co., Ltd. (Chinese: 苏宁控股集团有限公司) is a Chinese privately held company. The company shared the same founder Zhang Jindong with the listed company Suning.com, but Suning Holdings was the unlisted portion of Zhang's unincorporated Suning Group. According to All-China Federation of Industry and Commerce, Suning Holdings Group was ranked as the second largest civilian-run enterprise in the Mainland China in 2018.[7][8][9]

The holding company is notable outside of China for its acquisition of Inter Milan in 2016.[10]

Suning Holdings, as of 2016, owned an equity stake of 3.33% in Suning.com,[11] formerly known as Suning Commerce Group (Chinese: 苏宁云商集团) and Suning Appliance (Chinese: 苏宁电器股份).

Those companies also shared almost the same name with sister company Suning Appliance Group (Chinese: 苏宁电器集团), which Zhang owned 48.10% stake as the second largest shareholder. As of 31 December 2016 Suning Appliance Group was the second largest shareholder of Suning.com, after Zhang.[12]: 105  Suning Appliance Group was owned by ex-senior staff of Suning.com (including Zhang himself) as at 2002.[13] Since circa 2015 to 10 April 2017, it was owned by Bu Yang (49.1%), Zhang (48.1%) and Sun Weimin (2.8%), the three senior official of Suning.com.[14][15]

In 2020 ranked second in the top 500 non-state owned enterprises in China with annual revenues of RMB 665.259 billion and continued to top the list of Internet retailing category.[16][17]

In March 2021, a 23% stake of Suning.com was sold to state-owned investors to improve equity structure and long-term strategy due to financial problems.[18]

  1. ^ a b c Cite error: The named reference nationaldatabase was invoked but never defined (see the help page).
  2. ^ Entry in qichacha.com accessed on 11 July 2017
  3. ^ "Suning Holdings Group Ranks Second on China's Top 500 Non-state Owned Enterprises List in 2020". Suning Holdings Group. prnewswire.co.uk. September 14, 2020. Retrieved 31 May 2021.
  4. ^ Cite error: The named reference prospectus2017 was invoked but never defined (see the help page).
  5. ^ "Zhang Jindong Founder&Chairman's remarks". suningholdings.com.
  6. ^ 关于苏宁云商集团股份有限公司部分商标转让及使用许可关联交易的保荐机构意见 [Comments on Suning Commerce Group selling some registered trademarks to related-parties] (PDF) (in Chinese (China)). China Merchants Securities. 31 March 2016. Retrieved 8 June 2016 – via Shenzhen Stock Exchange website.
  7. ^ Zhu Lingqing (30 August 2018). "Top 10 Chinese private companies in 2018 (page 1)". China Daily. Beijing. Retrieved 31 October 2018.
  8. ^ Zhu Lingqing (30 August 2018). "Top 10 Chinese private companies in 2018 (page 9)". China Daily. Beijing. Retrieved 31 October 2018.
  9. ^ 2018中国民营企业500强公布 苏宁蝉联第2 (in Chinese (China)). Xinhua News Agency. 29 August 2018. Archived from the original on November 7, 2018. Retrieved 7 November 2018.
  10. ^ "Suning Holdings Group acquires majority stake of F.C. Internazionale Milano" (Press release). F.C. Internazionale Milano. 6 June 2016. Retrieved 6 June 2016.
  11. ^ 非公开发行A 股股票发行情况报告书暨上市公告书(摘要) [Report on Non-public offering of A shares] (PDF) (in Chinese). Suning Commerce Group. 3 June 2016. Retrieved 6 June 2016.
  12. ^ Cite error: The named reference Suning2016AR was invoked but never defined (see the help page).
  13. ^ 苏宁电器连锁集团股份有限公司关联交易公告 [Announcement on related-party transaction] (PDF) (in Chinese). Suning Commerce Group. 6 August 2004. Retrieved 6 June 2016.
  14. ^ 苏宁云商集团股份有限公司简式权益变动报告书 [Change in equity stake in Suning Commerce Group] (PDF) (in Chinese (China)). Suning Appliance Group. 13 January 2016. Retrieved 8 June 2016 – via cninfo.com.cn.
  15. ^ Entry in qichacha.com, accessed on 11 July 2017
  16. ^ "Top 10 Chinese private enterprises in 2020". chinadaily.com.cn. September 14, 2020. Retrieved June 21, 2021.
  17. ^ "Suning Holdings Group Ranks Second on China's Top 500 Non-state Owned Enterprises List in 2020". PRNewswire. September 14, 2020. Retrieved June 1, 2021 – via Yahoo!.
  18. ^ "Inter Milan owner Suning sells 23% stake to state-owned investors". Nikkei Asia. 2 March 2021. Retrieved 23 May 2024.