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Zhang Jindong

From Wikipedia, the free encyclopedia

In this Chinese name, the family name is Zhang.
Zhang Jindong
BornMarch 1963 (age 61)[1]
Tianchang, Anhui, China[2]
Alma materNanjing Normal University
Occupations
  • Entrepreneur
  • Politician
Known for
Board member of
Suning Holdings Group(managing director)
Suning.com(honorary chairman)
Children
Member of the 10th National Committee of the CPPCC for All-China Youth Federation
In office
March 2003 – March 2008
Member of the 11th National Committee of the CPPCC for ACFIC
In office
March 2008 – March 2013
Member of the 12th National Committee of the CPPCC for ACFIC
In office
March 2013 – March 2018
Member of the 11th Jiangsu People's Congress for Nanjing[4]
In office
2008–2013
Personal details
Other political
affiliations
Zhang Jindong
Simplified Chinese张近东
Traditional Chinese張近東
Transcriptions
Standard Mandarin
Hanyu PinyinZhāng Jìndōng

Zhang Jindong (simplified Chinese: 张近东; traditional Chinese: 張近東; pinyin: Zhāng Jìndōng; born March 1963)[5] is a Chinese billionaire entrepreneur. He is one of the founders and the current honorary chairman of the Suning.com, headquartered in Nanjing, Jiangsu.[6] He also owned 100% stake in Suning Holdings Group, 65% stake in Suning Real Estate[7] as well as 48.1% stake in Suning Appliance Group as the second largest shareholder. His company also was the majority owner of Italian football club Inter Milan until May 2024.

He was also the managing director and general manager of Suning Holdings Group, chairman of Suning.com.

Biography

[edit]

Zhang Jindong was born in Tianchang, Anhui Province in 1963. He graduated from Chinese department at Nanjing Normal University.

Zhang Jindong together with his older brother Zhang Guiping (Chinese: 张桂平) opened a shop on Ninghai Road (Chinese: 宁海路) corner Jiangsu Road in Nanjing, selling air conditioning and related products in 1990.[8] The brand Suning came from choosing one word each from Jiang-su and Ning-hai; the roads themselves were named after the city and province of the same name. Later Zhang Guiping exited the business and shifted into real estate, now known as Suning Universal. Zhang Jindong did however, also start his own real estate company Suning Real Estate some time later.

Zhang Jindong further developed his small shop into a business group, the Suning Group, within 15 years. He also founded and co-founded Suning Holdings Group and Suning Appliance Group respectively, as unlisted portions of his collection of businesses, leaving Suning.com (was known as Suning Commerce Group and other names) as the only listing company. In 2013's Hurun Report's China Rich List, Zhang was ranked No.9 with $6.4 billion.[9] Zhang Jindong was ranked 28th in 2015 Forbes's China Rich List.[3]

He was also elected to the National Committee of the Chinese People's Political Consultative Conference, a senior governmental body.[8] He was a member of the Provincial People's Congress, but not a member of the National People's Congress.

On 6 June 2016, Zhang Jindong, via his own private holding company Suning Holdings Group, signed a contract to purchase the majority stake in Italian football club Inter Milan, by purchasing existing shares and through recapitalization.[10][11] The deal was approved by the extraordinary general meeting on 28 June 2016, which after the deal, Suning Holdings Group owned 68.55% shares.[12]

In July 2021, Zhang Jindong stepped down as chairman of Suning.com, in which he holds the role of honorary chairman.[13]

Forbes estimated his net worth to be around US$7.4 billion in 2021.[14]

Personal life

[edit]

His son Zhang Kangyang (Steven)[15] owns a 10% stake in Suning Real Estate, one of his privately held companies. Suning Holdings Group acquired a majority stake of Inter Milan football club in 2016. After the acquisition, his son Steven became a member of Inter's board of directors and since 2018, its chairman.[16] Jindong is not a member of the board himself.

References

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  1. ^ 苏宁电器连锁集团股份有限公司首次公开发行股票招股说明书 [Initial Public Offering Prospectus of Suning Appliance Chain Store (Group) Co., Ltd.] (in Chinese (China)). Suning Appliance Chain Store (Group). 2 July 2004. Retrieved 16 July 2018 – via Sina finance.
  2. ^ 张近东 个人简历 [Zhang Jindong: Resume] (in Chinese (China)). All-China Federation of Industry and Commerce. Retrieved 31 October 2018.
  3. ^ a b Russell Flannery. "Zhang Jindong". Forbes.
  4. ^ 江苏省第十一届人民代表大会代表名单 [List of members of the 11th Jiangsu People's Congress]. 扬子晚报 (in Chinese (China)). 20 January 2008. Retrieved 18 February 2017 – via Sina news portal.
  5. ^ "公开发行 2017 年公司债券募集说明书" [prospectus of 2017 company bond] (PDF) (in Chinese (China)). Suning Commerce Group. 19 June 2017. p. 1-1-54. Retrieved 11 July 2017.
  6. ^ "Zhang Jindong, Founder of Suning.com, Becomes Honorary Chairman". pandaily.com. 12 July 2021. Retrieved 7 August 2021.
  7. ^ 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) (Press release) (in Chinese (China)). China Merchants Securities, Suning Commerce Group. 31 March 2016. Retrieved 8 June 2016 – via Shenzhen Stock Exchange website.
  8. ^ a b "Suning appliance king Zhang Jindong set to plug into foreign markets". Telegraph.co.uk. 25 August 2009.
  9. ^ 胡润百富. 胡润. Archived from the original on 31 December 2015. Retrieved 19 August 2014.
  10. ^ blog entry on 6 June 2016 weibo (in Chinese)
  11. ^ "Suning Holdings Group acquires majority stake of F.C. Internazionale Milano" (Press release). F.C. Internazionale Milano. 6 June 2017. Retrieved 11 July 2017.
  12. ^ "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.
  13. ^ Suning Global Team (12 July 2021). "Suning.com Announced the Board of Directors Will Be Reorganized". suningblog.com. Retrieved 7 September 2021.
  14. ^ "Forbes profile:Zhang Jindong". Forbes. Retrieved 7 August 2021.
  15. ^ "Loading..." www.nerazzurriale.com.
  16. ^ "Organization Chart". F.C. Internazionale Milano – Official website. Retrieved 10 September 2016.
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