Suning Appliance Group

Suning Appliance Group Co., Ltd. ^{[nb 1]} (Chinese: 苏宁电器集团有限公司) is a Chinese holding company that is the third largest shareholder of Suning Appliance (also known as Suning Domestic Appliance in 1996, Suning Appliance Chain Store (Group) in 2001,^[6] Suning Commerce Group from 2013 to 2018, and Suning.com now), after Zhang Jindong (founder of Suning) and Alibaba Group.

Suning Appliance Group Co., Ltd.

Native name	苏宁电器集团有限公司
Formerly	Jiangsu Suning Appliance Jiangsu Suning Appliance Group
Type	Private
Industry	Real estate, sports club
Founded	24 November 1999 (1999-11-24)
Founder	Liu Xiaomeng Zhang Jindong Sun Weimin Chen Jinfeng
Headquarters	68 Huaihai Road, Nanjing , China
Key people	Bu Yang (Chairwoman)^[1]
Net income	¥610 million RMB (2010)
Total assets	¥20.278 billion RMB (June 2011)
Total equity	¥3.507 billion RMB (June 2011)
Owner	Bu Yang (49.1%) Zhang Jindong (48.1%) Sun Weimin (2.8%)
Footnotes / references in separate balance sheet (unaudited)^[2]

The company was formerly known as Jiangsu Suning Appliance Co., Ltd. (Chinese: 江苏苏宁电器有限公司) and Jiangsu Suning Appliance Group Co., Ltd. (Chinese: 江苏苏宁电器集团有限公司).

History

As at 2002, Jiangsu Suning Appliance Group Co., Ltd. was owned by the ex-senior staff of Suning Appliance Co., Ltd., namely Liu Xiaomeng, Zhang Jindong, Sun Weimin (Chinese: 孙为民 , CEO of Suning) and Chen Jinfeng (Chinese: 陈金凤) for 42%, 28%, 18% and 12% stake respectively.^[7] The company owned several real estate and leased to Suning Domestic Appliance.^[7] When Suning Domestic Appliance was listed in Shenzhen Stock Exchange, Jiangsu Suning Appliance Group owned 18.29% stake.^[6]

In 2009 the Chinese name of the company was changed from Jiangsu Suning Appliance Group Co., Ltd. to Suning Appliance Group Co., Ltd..^[8]

Circa 2010s, Liu and Chen were withdrew as a shareholder of Suning Appliance Group Co., Ltd.. The latter still owned an equity stake in Suning Commerce Group directly. Moreover, Bu Yang (Chinese: 卜扬), a senior staff of Suning Commerce Group, was introduced as a shareholder of Suning Appliance Group Co., Ltd..

In 2013 Zhang owned 39.75% stake,^[9] Bu owned 40.17% and Sun owned 20.08%.^[1] In the same year, via Hong Kong incorporated subsidiary Suning International Limited, Suning Appliance Group purchased about 1% stake in Hong Kong listed company Hydoo International Holding Limited.^[10]

As at the first quarter of 2016, Zhang owned 48.10% stake in Suning Appliance Group Co., Ltd. as the second largest shareholder,^[11] Bu was the major shareholder for 49.1% stake, with Sun was the third for 2.8% stake.^[12]

Suning Appliance Group Co., Ltd. also owned 7.37% stake in Japanese listed company LAOX, which after Suning Commerce and Nihon Kanko Menzei as the third largest shareholder.

As in 2015, Suning Appliance Group still leasing some properties to Suning Commerce, for example a floor area of 13,182 sq.m in Suning Galaxy International Plaza (Chinese: 银河大廈 aka 苏宁银河国际广场), on 1 Shanxi Road, Nanjing.^[13]

In 2016 Suning Appliance Group Co., Ltd. purchased 100% stake of Jiangsu Football Club,^[14] and in 2021 announced that the club would immediately cease operations.^[15]

In mid-2016 Suning Appliance Group Co., Ltd. became the third largest shareholder for 15.62% stake, after new shares was issued to Alibaba Group.^[16][17]

Suning Appliance Group also owned 25% stake in Suning Real Estate. In 2017, the company subscribed ¥20 billion RMB new shares of Hengda Real Estate, a subsidiary of Evergrande Group.^[18]

Subsidiaries

• Jiangsu F.C.
  • Jiangsu Lady Football Club
• Novotel Nanjing Central Suning

Footnotes

1. The name was also transliterated as "Suning Electrical Appliances Group";^[3] The company used the name "Suning Appliance Group" to issue bond.^[4][5]

References

1. "苏宁电器集团有限公司" (in Chinese). 江苏省工商行政管理局. Retrieved 9 November 2016.
2. http://www.suning.cn/static///snsite/index/tzzgx/lsgg/attachment/522/_attachment1334401700577.pdf^{[bare URL PDF]}
3. "DISCLOSEABLE AND CONNECTED TRANSACTION FURTHER CAPITAL INCREASE TO HENGDA REAL ESTATE" (PDF) (Press release). Evergrande Group. 8 November 2017. Retrieved 14 May 2018.
4. "苏宁电器集团有限公司非公开发行2015年公司债券(品种一)".
5. "苏宁电器集团有限公司非公开发行2017年公司债券(第二期)(品种一)".
6. "2004 nián nián dù bào gào" 2004年年度报告 [2004 Annual Report] (PDF) (in Chinese). Suning Appliance Chain Store (Group) Co., Ltd. March 2005. Retrieved 6 June 2016.
7. "苏宁电器连锁集团股份有限公司关联交易公告" [Announcement on related deal] (in Chinese). Suning Appliance Chain Store (Group) Co., Ltd. 6 August 2004. Retrieved 6 June 2016.
8. 2009 Annual Report Suning Commerce Group (in Chinese)
9. 2013 Annual Report Suning Commerce Group (in Chinese)
10. "page 160-167 of the Global Offering Document" (PDF). Hydoo International Holding Limited. archive in Hong Kong Stock Exchange. 18 October 2013. Retrieved 7 June 2016.
11. "2016 年第一季度报告" [First Quarterly Report 2016] (PDF). Suning Commerce. 29 April 2016. Retrieved 6 June 2016.
12. 苏宁云商集团股份有限公司 简式权益变动报告书 2016-01-13 (in Chinese)
13. 2015 Annual Report Suning Commerce Group (in Chinese)
14. "足协公示江苏舜天更名为江苏苏宁 股权100%转让" [FA announces Jiangsu Sainty becomes Jiangsu Suning, 100% stake has transferred] (in Chinese). China FA. 4 January 2016. Retrieved 6 June 2016.
15. "Reigning Chinese Super League champion Jiangsu FC 'ceases operations'". cnn.com.
16. "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.
17. Gerry Shih (11 August 2015). "Alibaba to invest $4.6 billion in China electronics retailer Suning". Reuters. Retrieved 6 June 2016.
18. "Evergrande to raise $9.1 billion ahead of backdoor listing in China". Reuters. Hong Kong. 6 November 2017. Retrieved 14 May 2018.