Suning.com Co., Ltd. (/ˈsunɪŋ/ SOO-ning), formerly Suning Commerce Group Co., Ltd., is one of the largest non-government retailers in China, headquartered in Nanjing, Jiangsu.
[9] Suning Commerce Group Co., Ltd. principally operates franchised retail shops of electronic appliances in China.
The president of Suning Holdings Group Zhang Jindong officially announced the launch of the world's first research institute.
[17][18] In October 2015 PPTV was sold to chairman Zhang Jindong via a subsidiary of Suning Culture Investment Management[19] for US$398.4102 million, making a profit of RMB 1.355 billion.
[20] In 2015 financial year the comprehensive income of Suning Commerce Group in consolidated basis was just 1.01168 billion RMB.
[32] In June 2021, Zhang Jindong's company would in fact receive 3.2 billion yuan (US$500.6 million) from a state fund as it struggled to recover from a liquidity crisis.
Suning.com said 5.59% of his shares will be transferred to a fund consisting of four state-owned enterprises ultimately controlled by the Jiangsu provincial government.
According to the agreement, Zhang had the obligation to buy back the shares for sale by April 1, 2022, paying a consideration of 3.182 billion yuan, plus interest (equal to about 3.85% on an annual basis).
[33] In mid June 2021, a Beijing court froze 3 billion yuan worth of shares Zhang holds in the group's retail arm Suning.com Co. for three years.
With most of Zhang Jindong shares pledged as collateral for loans, that could complicate his ability to raise cash and potentially derail a state-backed rescue.
Concerns over Suning's cash flow initially surged to the fore in September, when Zhang waived his right to a 20 billion yuan payment from Evergrande Group.Suning.com had stopped trading in its shares, the stock had fallen by the daily limit of 10%.
[34] In early July 2021, it was announced that the company had reached an agreement with a group of investors, both private and government officials, who intervened on behalf of Suning.com.
[36][37] After a period of suspension on the stock exchange, from June 16 to July 5, the company's shares were up by a maximum of 10% after the dealer announced the financial transaction.
For the same role there were a total of four candidates, Huang Mingduan, Xian Handi, Cao Qun and Zhang Kangyang.
[42] Alibaba is the company led by Jack Ma and which, as part of the "New New Retail Fund", bought shares in the subsidiary Suning in early July.
Total operating revenue for the half-year period was about CN¥93.657 billion.Net income attributable to shareholders of the listed company stood at about CN¥−3.19 billion.
According to Nikkei, the embattled Chinese retail giant Suning.com is getting a 5 billion yuan (US$685 million) lifeline from state-backed Citic Trust and China Huarong Asset Management in October 2023.
The workers separate the products after receiving them from suppliers, storing them in small, medium and large piles and pallets.
In the epidemic, every residential property exercised a certain level of" block ", and the traditional" contactless distribution "cannot meet the current situation.
Technically, "Xinglong-1" uses advanced artificial intelligence technology that assists radar, high-precision maps, cameras and sensors, and can accurately identify obstacles up to 300 meters away in high-speed scenarios.
In collaboration with "Suning Convenience Store", "Suning Logistics" quickly set up an unmanned delivery team that guarantees instant delivery service within 3 km radius, further reducing the risk of infection between consumer and courier, further reducing the risk of infection between consumer and courier, effectively implementing the "self-isolation rule".
In 2018, Suning used autonomous delivery robots, which transport daily essentials such as drinks, fruit and snacks from the local store to the residents.
[53][54] The new unmanned delivery robot called "BIU" can autonomously plan the route and avoid obstacles, deliver to the customer and return to service.
[57][58] In 2017, Suning invested US$200 million in favor of Chinese carmaker Byton, which produces electric vehicles, which unveiled its first concept car at the Consumer Electronics Show in Las Vegas in January 2018.
[59] In August 2020, Suning entered into an agreement with the Chinese giant Nio, a Chinese car manufacturer active since 2014 based in Shanghai, specialized in the design and development of electric vehicles and which, with its own team, also participates in the world championship of Formula E. They have established a long-term partnership to strengthen strategic cooperation in various fields, including channel expansion, product sales, brand promotion, B2B cooperation, technology products and development, and create development opportunities.