|Traded as||SZSE: 002024|
|China (including Hong Kong) and Japan|
|Zhang Jindong (chairman)|
|Revenue||CN¥148.585 billion (2016)|
|CN¥2 million (2016)|
|CN¥704 million (2016)|
|Total assets||CN¥137.167 billion (2016)|
|Total equity||CN¥65.710 billion (2016)|
|Divisions||Suning Commerce R&D Center USA|
|Chinese short name|
|former Chinese name|
|former Chinese short name|
|Literal meaning||Suning Cloud Commerce|
|Footnotes / references
in consolidated financial statement
Suning.com Co., Ltd. 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 1600 stores covering over 700 cities of China (the mainland China and Hong Kong S.A.R.) and Japan and its e-commerce platform, Suning.com ranks among top three Chinese B2C companies. The operation categories include physical merchandise, such as home appliances, 3C products, books, general merchandise, household commodities, cosmetics and baby care products, content products and service merchandise with the total number of SKU exceeding 3 million. It was listed on the Shenzhen Stock Exchange in 2004.
Suning Commerce Group Co., Ltd. principally operates franchised retail shops of electronics appliances in China. The Company mainly offers colour televisions (TVs), audio and video (AV) players, disc players, refrigerators, washing machines, digital and information technology (IT) products, small household electronics, air conditioners, telecommunications products and other products. The company also provides installation and repair services for electronic appliances. As of December 31, 2010, the company had 1,311 stores in 231 cities across China.
On 26 December 1990, the predecessor of Suning was founded in Nanjing as an air-conditioner retail store. On 15 May 1996, 江苏苏宁交家电有限公司 (literally Suning Domestic Appliance Co., Ltd.) was incorporated. In 2000 the company was renamed into 江苏苏宁交家电(集团)有限公司 (literally Suning Domestic Appliance (Group) Co., Ltd.) and then Suning Appliance Chain Store (Group) Co., Ltd. (Chinese: 苏宁电器连锁集团股份有限公司).
In July 2004, Suning Appliance Chain Store (Group) was listed on SZSE. As at 31 December 2004, founder and chairman Zhang Jindong owned 35.12% stake, followed by Jiangsu Suning Appliance Co., Ltd. (Chinese: 江苏苏宁电器有限公司), which was the parent company of Suning Appliance Chain Store (Group) Co., Ltd., for 18.29% stake. Chen Jinfeng (Chinese: 陈金凤) owned 8.78% stake. Moreover, Liu Xiaomeng, Zhang Jindong, Sun Weimin (CEO of Suning) and Chen Jinfeng owned 42%, 28%, 18% and 12% stake respectively in Jiangsu Suning Appliance, as at 2002.
Suning Appliance Chain Store (Group) was renamed into Suning Appliance Co., Ltd. (Chinese: 苏宁电器股份有限公司; literally: "Suning Appliance, Company Limited by Share") in 2005.
In 2009 Suning Appliance purchased Hong Kong based retail chain Citicall (as Citicall Retail Management), which became Hongkong Suning Commerce Co., Ltd., for HK$35 million and not more than HK$180 million for fixed assets.
2011-, Suning's been gradually exploring "online and offline" multi-channel integration.
On 19 February 2013, Suning Appliance announced to change the company name to Suning Commerce Group Co., Ltd. (Chinese: 苏宁云商集团股份有限公司)
On October 2015 PPTV was sold to chairman Zhang Jindong via a subsidiary of Suning Culture Investment Management for US$398.4102 million, making a profit of RMB 1.355 billion. In 2015 financial year the comprehensive income of Suning Commerce Group in consolidated basis was just 1.01168 billion RMB.
In April 2016 Suning Commerce acquired 4.90% stake in Nubia Technology from chairman Zhang Jindong for 283.7 million RMB, proportional to Zhang's subscription in the capital increase of Nubia in December 2015.
On 3 June 2016 Suning Commerce Group issued about 1.86 billion new shares to Taobao (China) Software Co., Ltd., a subsidiary of Alibaba Group, for about 28 billion RMB. During the year the company sold some properties to Zhang, making extraordinary profit for the loss-making company.
In January 2016, one of the shareholders of Suning Commerce, Suning Appliance Group, completed the purchase of the Chinese football club Jiangsu F.C.. The Chinese name of the football club was then renamed as 江苏苏宁易购队 literally Jiangsu Suning.com team. According to Suning Commerce, the company sponsored the football club CN¥123 million in 2016.:276
On 6 June 2016 chairman Zhang Jindong, via his own private holding company Suning Holdings Group, signed a contract to purchase the majority stake in Italian football club F.C. Internazionale Milano. The deal was approved by the extraordinary general meeting on 28 June 2016, which after the deal, Suning Holdings Group owned 68.55% shares. Suning.com, the online shopping website of Suning Commerce, became a sponsor of the Italian club.
Acquisitions and Partnerships
|1||June 2009||Laox||Duty-free shop||Japan||$121,000,000|||
|2||December 2009||Citicall||Consumer Electronics||Hong Kong||HK$215,000,000|||
|4||October 2013||PPTV||Streaming Media||China||$250,000,000|||
|6||December 2014||Allyes||Marketing communications||China||$15,000,000|||
|7||April 2016||Nubia||Mobile phones||China||RMB283,700,000|
|8||August 2017||China United Network Communications||Telecommunications||China|
- As of 31 December 2016
|Rank||Name||Chinese name||Number of shares||Percentage||Footnotes|
|1||Zhang Jindong||张近东||2,261,541,981||24.29%||Chairman of Suning Commerce; owned directly and via Suning Holdings Group|
|2||Suning Appliance Group||苏宁电器集团||1,861,076,979||19.99%||owned directly and via private equity fund; Zhang partially owned the company|
|3||Taobao (China) Software||淘宝(中国)软件||1,861,076,927||19.99%||subsidiary of listed company Alibaba Group|
|4||Chen Jinfeng||陈金凤||184,127,709||1.98%||former employee of Suning Commerce|
|5||Jin Ming||金明||125,001,165||1.34%||director and president of Suning Commerce|
|6||Central Huijin||中央汇金||73,231,900||0.79%||Sovereign wealth fund of China|
|7||Phase 2 of employee ownership scheme||第二期员工持股计划||65,919,578||0.71%|
|8||Phase 1 of employee ownership scheme||第一期员工持股计划||61,056,374||0.66%|
|9||Beijing Hony 2010 Equity Investment Centre||北京弘毅贰零壹零股权投资中心||49,632,003||0.53%||a private equity fund of Hony Capital, incorporated as limited partnership|
- Suning Appliance Group, second largest shareholder of Suning Commerce
- Suning Holdings Group, sister company, minority shareholder of Suning Commerce
- "2016 Annual Report" (PDF). Suning Commerce Group (in Chinese). Shenzhen Stock Exchange. 31 March 2017. Retrieved 18 April 2017.
- Suning Appliance Co., Ltd.
- Profile of Suning Appliance
- "PROFILE-Suning Appliance Co Ltd". Bloomberg. Retrieved 18 February 2013.
- "Suning Appliance Co Ltd (002024.SZ) Company Profile | Reuters.com". reuters.com. 2011. Retrieved 19 May 2011.
- "苏宁电器--家电--人民网". homea.people.com.cn. Retrieved 2016-05-09.
- "二○○四年年度报告" [20014 Annual Report] (PDF) (in Chinese). Suning Appliance Chain Store (Group) Co., Ltd. March 2005. Retrieved 6 June 2016.
- "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.
- "关于收购香港CITICALL 业务及资产的公告" [Announcement of the purchase of the business and assets of Hong Kong based Citicall] (PDF). Suning Commerce Group. 31 December 2009. Retrieved 6 June 2016.
- "关于拟出售 PPLive Corporation股权暨关联交易的公告" [Announcement of proposed sales of PPLive Corporation and related-party transaction] (PDF) (in Chinese). Suning Commerce Group. 31 October 2015. Retrieved 8 June 2016.
- 2015 Annual Report Suning Commerce Group (in Chinese)
- "关于受让股权的关联交易公告" [Announcement on related-party transaction for buying equity stake in a company] (PDF) (in Chinese). Suning Commerce Group. 30 April 2016. Retrieved 7 June 2016.
- "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.
- Gerry Shih (11 August 2015). "Alibaba to invest $4.6 billion in China electronics retailer Suning". Reuters. Retrieved 6 June 2016.
- "Alibaba and Suning Commerce Enter into Strategic Alliance". Alibaba Group. 10 August 2015. Retrieved 6 June 2016.
- "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.
- blog entry on 6 June 2016 weibo (in Chinese)
- "Suning Holdings Group acquires majority stake of F.C. Internazionale Milano" (Press release). F.C. Internazionale Milano. 6 June 2017. Retrieved 11 July 2017.
- "Assemblea degli Azionisti di F.C. Internazionale Milano" [F.C. Internazionale Shareholders' Meeting] (Press release). F.C. Internazionale Milano. 28 June 2017. Retrieved 11 July 2017.
- "Inter announces Official Training Grounds' Naming Partner and Training Apparel" (Press release). F.C. Internazionale Milano. 20 December 2016. Retrieved 11 July 2017.
- "China's Suning to take controlling stake in Japan's Laox". Reuters. 29 June 2011. Retrieved 6 June 2016.
- "Suning to Acquire Citicall Retail Management". JARN. 13 February 2010. Retrieved 6 June 2016.
- Wang Zhuoqiong (26 September 2012). "Suning acquires Redbaby to broaden product lines". China Daily. Retrieved 6 June 2016.
- "China's Suning Invests in Video Site PPTV". Wall Street Journal. 28 October 2013. Retrieved 6 June 2016.
- "Suning Acquires Group Buying Site Manzuo.com". China Tech News. 5 February 2014. Retrieved 6 June 2016.
- "苏宁云商1500万美元收购好耶" (in Chinese). Retrieved 6 June 2016.
- Li, Woke. "Suning plans massive expansion." China Daily. March 6, 2012.
- "Suning sets up R&D shop in California." China Daily. January 2, 2014.
- Li, Woke. "Yum to open restaurants in Suning stores." China Daily. May 10, 2012.
- He, Wei. "Suning eyes new telecom market." China Daily. October 22, 2013.
- "Suning enters finance." China Radio International at China Daily. December 19, 2014.