Suning.com Co., Ltd. formerly Suning Commerce Group Co., Ltd. is one of the largest non-government retailers in China, headquartered in
Nanjing
Nanjing (; , Mandarin pronunciation: ), alternately romanized as Nanking, is the capital of Jiangsu province of the People's Republic of China. It is a sub-provincial city, a megacity, and the second largest city in the East China region. T ...
, Jiangsu Province. Suning has more than 10,000 stores nationwide 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. In 2021, Suning.com ranked at 328th on the
Fortune Global 500
The ''Fortune'' Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by ''Fortune'' magazine.
Methodology
Until 1989, it listed onl ...
list.
Suning.com is ranked 9th on the list of the 15 ''Fastest Growing Ecommerce Companies'' in 2020 according to a report published by the international finance website "Insider Monkey", and ranked 2nd in "Total Online Retail Sales" in China.
Business areas
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.
As of June 30, 2020, after the acquisition of the Carrefour supermarket network in China, Suning.Com owned 2,756 stores of various types:
*Suning Plaza (shopping malls) - 37
*3C specialty shop (household appliances) - 2.108
*Suning.Com Stores - 197
*Carrefour supermarket - 240
*RedBaby brand stores (baby and maternity products) - 146
*Shops in Hong Kong - 28
There were 5,660 Suning.Com franchise stores, for a total of 8682. In the first quarter of 2021, another 831 stores were opened in June bringing the total to over 9000 cloud retail stores. Suning.com is present in China (the mainland China and Hong Kong S.A.R.) and Japan, in the retail industry, with over 10,000 stores.
The company has been on the
Fortune Global 500
The ''Fortune'' Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by ''Fortune'' magazine.
Methodology
Until 1989, it listed onl ...
list since 2017.
History
On 26 December 1990, the predecessor of Suning was founded in Nanjing as an air-conditioner retail store. On 15 May 1996, (literally ''Suning Domestic Appliance Co., Ltd.'') was incorporated. In 2000 the company was renamed into (literally ''Suning Domestic Appliance (Group) Co., Ltd.'') and then Suning Appliance Chain Store (Group) Co., Ltd. ().
In July 2004, Suning Appliance Chain Store (Group) was listed on SZSE. As at 31 December 2004, founder and chairman
Zhang Jindong
Zhang Jindong (; born March 1963) is a Chinese billionaire entrepreneur. He is one of the founders and the current honorary chairman of the Suning.com, headquartered in Nanjing, Jiangsu Province. He also owned 100% stake in Suning Holdings Grou ...
owned 35.12% stake, followed by Jiangsu Suning Appliance Co., Ltd. (), which was the parent company of Suning Appliance Chain Store (Group) Co., Ltd., for 18.29% stake. Chen Jinfeng () 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. () 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. ()
On November 19, 2013, the Suning US R&D Center and Silicon Valley Research Institute was inaugurated in the city
Palo Alto
Palo Alto (; Spanish for "tall stick") is a charter city in the northwestern corner of Santa Clara County, California, United States, in the San Francisco Bay Area, named after a coastal redwood tree known as El Palo Alto.
The city was es ...
in
California
California is a state in the Western United States, located along the Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the most populous U.S. state and the 3rd largest by area. It is also the m ...
Zhang Jindong
Zhang Jindong (; born March 1963) is a Chinese billionaire entrepreneur. He is one of the founders and the current honorary chairman of the Suning.com, headquartered in Nanjing, Jiangsu Province. He also owned 100% stake in Suning Holdings Grou ...
officially announced the launch of the world's first research institute. Suning has clearly released the One-Wing Internet Roadmap, facility search will advance Suning's online to offline (O2O) business model (business strategy that attracts potential customers from online channels to shop in physical stores ) and will strengthen its
back office
A back office in most corporations is where work that supports ''front office'' work is done. The front office is the "face" of the company and is all the resources of the company that are used to make sales and interact with customers and client ...
business intelligence
Business intelligence (BI) comprises the strategies and technologies used by enterprises for the data analysis and management of business information. Common functions of business intelligence technologies include reporting, online analytical p ...
,
high performance computing
High-performance computing (HPC) uses supercomputers and computer clusters to solve advanced computation problems.
Overview
HPC integrates systems administration (including network and security knowledge) and parallel programming into a multi ...
,
online banking
Online banking, also known as internet banking, web banking or home banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial ins ...
to improve efficiency operating in the
retail
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and ...
sector.
In October 2015
PPTV
PPTV () is a Chinese video streaming website. Its predecessor, PPLive, was peer-to-peer streaming video freeware created at the Huazhong University of Science and Technology in Wuhan, Hubei Province. The group of companies that runs the websi ...
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.2015 Annual Report Suning Commerce Group (in Chinese) 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
The renminbi (; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of the People's Republic of China and one of the world's most traded currencies, ranking as the fifth most traded currency in the world as of April 2022. ...
. During the year the company sold some properties to Zhang, making extraordinary profit for the loss-making company.
In 2018, the listed company was renamed to Suning.com Co., Ltd. ()
In 2019, Suning.com acquired 80% stake of the Chinese division of
Carrefour
Carrefour () is a French multinational retail and wholesaling corporation headquartered in Massy, France. The eighth-largest retailer in the world by revenue, it operates a chain of hypermarkets, groceries stores and convenience stores, whic ...
. Also in 2019, Suning.Com acquired 37 department stores from the
Wanda Group
Wanda Group (), or the Dalian Wanda Group (), is a Chinese multinational conglomerate founded in Dalian, Liaoning and headquartered in Beijing. It is a private property developer and owner of Wanda Cinemas and the Hoyts Group.
With inve ...
for 2,7 billion RMB. Was ranked as the largest omnichannel retailer in China and as the most valuable retail brand in China by the World Brand Lab, with a total brand value of US$39,093 billion and operating income of over US$37 billion.
As reported by the US magazine Fortune in 2019, it has a turnover of US$37 billion, and can count on 130,455 employees.
As of September 30, 2019, the number of registered members of Suning.com's
retail
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and ...
platform reached 470 million users.
In February 2021, Shenzhen International and Shenzhen Kunpeng Equity Investment Management (both state-owned enterprises) invest in Suning.com at 6.92 yuan per share, for a total of approximately 14.8 billion yuan (US$2.28 billion), or 8% of the total stake. of their capital company (745 million shares) and 15% (1.397 billion shares), for a total of 23%.
In May 2021, Suning.com released its report for the first quarter of 2021. Suning.com achieved operating profit of 54.05 billion yuan (approximately over US$8 billion) and net profit attributable to shareholders of listed companies reached 456 million yuan (over US$70 million). The Retail Cloud continued to develop in the first quarter, with 584 new stores opened and the scale of sales increased by 69% year on year (the 247 stores opened in June must be added for a total of 831 new stores opened since the beginning of the year).
Two branches of the
Jiangsu
Jiangsu (; ; pinyin: Jiāngsū, alternatively romanized as Kiangsu or Chiangsu) is an eastern coastal province of the People's Republic of China. It is one of the leading provinces in finance, education, technology, and tourism, with its ca ...
Province-based government agency that oversees major state-owned businesses agreed to set up a 20 billion yuan (US$3.1 billion) fund with Suning.com's parent company Suning Holdings Group. The fund would be used to invest in its best performing assets and assets, a move that should give the company more breathing room to deal with its heavy
debt
Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase. The ...
load.
In June 2021, Zhang Jindong's company will in fact receive 3.2 billion yuan (US$500.6 million) from a state fund as it struggles to recover from a
liquidity crisis In financial economics, a liquidity crisis is an acute shortage of ''liquidity''. Liquidity may refer to market liquidity (the ease with which an asset can be converted into a liquid medium, e.g. cash), funding liquidity (the ease with which borrow ...
. 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
Jiangsu (; ; pinyin: Jiāngsū, alternatively romanized as Kiangsu or Chiangsu) is an eastern coastal province of the People's Republic of China. It is one of the leading provinces in finance, education, technology, and tourism, with its ca ...
provincial government. The shares are controlled by an affiliate of Zhang Jindong, president of Suning.com, who currently holds 19.7% of the total shares. The transfer price will be 6.12 yuan per share, 90% of Tuesday's closing price. According to the agreement, Zhang will have 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).
In mid June 2021, a
Beijing
}
Beijing ( ; ; ), alternatively romanized as Peking ( ), is the capital of the People's Republic of China. It is the center of power and development of the country. Beijing is the world's most populous national capital city, with over 21 ...
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
Zhang Jindong (; born March 1963) is a Chinese billionaire entrepreneur. He is one of the founders and the current honorary chairman of the Suning.com, headquartered in Nanjing, Jiangsu Province. He also owned 100% stake in Suning Holdings Grou ...
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
The China Evergrande Group is the second largest property developer in China by sales. It is ranked 122nd on the ''Fortune'' Global 500. It is incorporated in the Cayman Islands, a British Overseas Territory, and headquartered in the Houhai ...
.Suning.com has stopped trading in its shares, the stock has fallen by the daily limit of 10%.
In early July 2021, it is announced that the company has reached an agreement with a group of investors, both private and government officials, who intervened on behalf of Suning.com. The transaction in question, which sees its core in the new "New Retail Innovation Fund Phase II" fund worth 8.83 billion yuan (US$1.36 billion), led by the state asset management committee of
Nanjing
Nanjing (; , Mandarin pronunciation: ), alternately romanized as Nanking, is the capital of Jiangsu province of the People's Republic of China. It is a sub-provincial city, a megacity, and the second largest city in the East China region. T ...
and the government of
Jiangsu
Jiangsu (; ; pinyin: Jiāngsū, alternatively romanized as Kiangsu or Chiangsu) is an eastern coastal province of the People's Republic of China. It is one of the leading provinces in finance, education, technology, and tourism, with its ca ...
province, will take over 16.96% of the company. The fund includes brands such as Alibaba Group,
Haier
Haier Group Corporation () is a Chinese multinational home appliances and consumer electronics company headquartered in Qingdao, Shandong. It designs, develops, manufactures and sells products including refrigerators, air conditioners, washin ...
,
Midea Group
Midea Group () is a Chinese electrical appliance manufacturer, headquartered in Beijiao town, Shunde District, Foshan, Guangdong and listed on Shenzhen Stock Exchange. As of 2021, the firm employs approximately 150,000 people in China and oversea ...
,
TCL
TCL or Tcl or TCLs may refer to:
Business
* TCL Technology, a Chinese consumer electronics and appliance company
**TCL Electronics, a subsidiary of TCL Technology
* Texas Collegiate League, a collegiate baseball league
* Trade Centre Limited ...
and
Xiaomi
Corporation (; ), commonly known as Xiaomi and registered as Xiaomi Inc., is a Chinese designer and manufacturer of consumer electronics and related software, home appliances, and household items. Behind Samsung, it is the second largest m ...
as protagonists. With this intervention, the shares of
Zhang Jindong
Zhang Jindong (; born March 1963) is a Chinese billionaire entrepreneur. He is one of the founders and the current honorary chairman of the Suning.com, headquartered in Nanjing, Jiangsu Province. He also owned 100% stake in Suning Holdings Grou ...
Suning Appliance Group
Suning Appliance Group Co., Ltd. () 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, Suning Commerce Group from ...
from 10.68% to 1.39% and the Tibet Trust's stake fell from 3.07% to zero. After a period of suspension on the stock exchange, from June 16 to July 5, the company's shares are up by a maximum of 10% after the dealer announces the financial transaction.
On 12 July 2021, Suning.com announces that the company's board of directors will be reorganized and that the resigned founder and chairman
Zhang Jindong
Zhang Jindong (; born March 1963) is a Chinese billionaire entrepreneur. He is one of the founders and the current honorary chairman of the Suning.com, headquartered in Nanjing, Jiangsu Province. He also owned 100% stake in Suning Holdings Grou ...
will take up his new position as honorary chairman of the company's board of directors. The company said Ren Jun, a board member, will perform chairman duties temporarily. Zhang Jindong will continue as legal representative until when no replacement is found. For the same role there are a total of four candidates, Huang Mingduan, Xian Handi, Cao Qun and
Zhang Kangyang
Zhang Kangyang or Steven Zhang (; born 21 December 1991) is a Chinese businessman and chairman of the Italian football club Inter Milan.
Biography
Born in Nanjing, Zhang is the son of Chinese billionaire Zhang Jindong, founder and chairman of t ...
.
Through an official note published on July 29, 2021, Suning.com announced the new composition of the company's board of directors. The new Chairman of the board is Huang Mingduan, former CEO of "Sun Art Retail Group", a
supermarket chain
A supermarket is a self-service Retail#Types of outlets, shop offering a wide variety of food, Drink, beverages and Household goods, household products, organized into sections. This kind of store is larger and has a wider selection than earli ...
owned by Alibaba Group, replacing Suning.com interim chairman Ren Jun. Alibaba is the company led by
Jack Ma
Jack Ma Yun (; born 10 September 1964) is a Chinese business magnate, investor and philanthropist. He is the co-founder and former executive chairman of Alibaba Group, a multinational technology conglomerate. In addition, he co-founded Yunfen ...
and which, as part of the "New New Retail Fund", bought shares in the subsidiary Suning in early July. Steven Zhang,
president
President most commonly refers to:
*President (corporate title)
* President (education), a leader of a college or university
* President (government title)
President may also refer to:
Automobiles
* Nissan President, a 1966–2010 Japanese ...
of Suning International, president of
Inter
Inter may refer to:
Association football clubs
* Inter Milan, an Italian club
* SC Internacional, a Brazilian club
* Inter Miami CF, an American club
* FC Inter Sibiu, a Romanian club
* FC Inter Turku, a Finnish club
* FK Inter Bratislava, a form ...
,
vice president
A vice president, also director in British English, is an officer in government or business who is below the president (chief executive officer) in rank. It can also refer to executive vice presidents, signifying that the vice president is on ...
Zhang Jindong
Zhang Jindong (; born March 1963) is a Chinese billionaire entrepreneur. He is one of the founders and the current honorary chairman of the Suning.com, headquartered in Nanjing, Jiangsu Province. He also owned 100% stake in Suning Holdings Grou ...
, was also appointed to the board of directors, together with Huang Mingduan, Xian Handi and Cao Qun, as a non-independent director of the company's seventh board of directors. On July 30 released results for the first half of 2021. Total operating revenue for the half-year period was about . Net income attributable to shareholders of the listed company stood at about .
Smart logistics
"Suning.com" Logistics is one of the leading retail logistics companies in China, with a delivery network covering 351 cities, 2858 districts and counties in China, with over 100,000 truck drivers working for the company. It has 5 warehouses just for regular deliveries in eastern China. The automatic warehouse in Nanjing covers more than 200,000 square meters, also the total area of the warehouse facility covers 9.64 million square meters. The size of the facilities justifies the number one position in the Chinese retail sector. Along with the size, is added the intelligent technology used by Suning. Over the years
E-commerce
E-commerce (electronic commerce) is the activity of electronically buying or selling of products on online services or over the Internet. E-commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain managem ...
platforms have revolutionized the way consumers shop, e-commerce has people ordering a product from the comfort of their home and quickly with home delivery. To date, with the Suning APP, it can count on over 600 million registered users.
Suning has incorporated an intelligent system into its operations, their state-of-the-art logistics facility. The entire
Nanjing
Nanjing (; , Mandarin pronunciation: ), alternately romanized as Nanking, is the capital of Jiangsu province of the People's Republic of China. It is a sub-provincial city, a megacity, and the second largest city in the East China region. T ...
Logistics Center is divided into various parts intended to perform a variety of services. The storage of goods in the center is also divided into various segments that separate the products according to type and size. Use
Schaefer
Schaefer is an alternative spelling and cognate for the German word ''schäfer'', meaning 'shepherd', which itself descends from the Old High German '' scāphare''. Variants "Shaefer", "Schäfer" (a standardized spelling in many German-speaking ...
technologies in its own intelligent logistics center. the ASRS system developed by Schaefer automation system, a German brand of automation technology in the storage sector, expands to the automated archiving and retrieval system.
The intelligent logistics center is almost fully automated with less human intervention which makes the storage process and the retrieval process for delivery extremely easy, fast and reliable. The system monitoring room has a huge screen with around 20 people working to keep the whole process smoother and faster. In the hall it has feeds from multiple cctv cameras positioned throughout the store, as well as feeds from various ASRS systems and manual worker feeds for a holistic approach to the entire logistics. The workers separate the products after receiving them from suppliers, storing them in small, medium and large piles and pallets. The workers have to scan the RFID code and then it goes for the final packaging before it can be delivered to the customers. The point that needs to be highlighted is the speed of the process because so many steps are covered in speed. Suning has a delivery of the products, purchased by the user, within twelve hours from the time of the order.
Automated distribution
During the
COVID-19 pandemic in mainland China
The COVID-19 pandemic in mainland China is part of the worldwide pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). China was the first country to experience an outbreak o ...
, logistics and distribution grew significantly under the catalysis of the "rule of self-isolation". According to large-scale consumption data in epidemic prevention published by Suning, the volume of orders in China for Suning Convenience Stores increased by 419.6% year on year, and the volume of "order online and collect in store "of the Food Market rose by more than 655%. In the epidemic, every residential property exercised a certain level of" block ", and the traditional" contactless distribution "cannot meet the current situation. The advantages of unmanned technology are significant, such that it can improve the efficiency of the transfer between logistics warehouses and consumers. As a result, unmanned logistics can accelerate its development even after the outbreak.
Automated Unmanned Logistics describes its operational process from when packages leave the warehouse without personnel, are quickly transported overland to the distribution center in a driverless truck, then in the last mile they are delivered to their destination by an automated truck or drone. In 2018, Suning had completed the actual verification of its "Xinglong One" driverless truck. 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 addition, it can also control the vehicle for emergency stops or bypass obstacles with a response speed of 25ms, and the highest speed of safe automatic driving can reach 80 km per hour. During the outbreak, Suning Logistics launched the "contactless distribution service" with 5G driverless vehicles. 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.
The new unmanned delivery robot called "BIU" can autonomously plan the route and avoid obstacles, deliver to the customer and return to service. The cooperation mode of "courier delivery + robot delivery to the community" opens the last 100 meters of distribution to the community during the outbreak, ensuring the safety and health of users and a high quality home service experience.
Mobility and transport
The Suning.com company, in addition to the
retail
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and ...
sector of household appliances and electronic products, is active in the automotive sector, luxury boats and aircraft of many categories, from business jets to civil helicopters.
Automotive
The Suning.com Auto Company (Suning Auto) division opened 20 auto supermarkets in 2018 and in the following years will increase the number of auto shows in various cities, such as
Xi'an
Xi'an ( , ; ; Chinese: ), frequently spelled as Xian and also known by other names, is the capital of Shaanxi Province. A sub-provincial city on the Guanzhong Plain, the city is the third most populous city in Western China, after Chongqi ...
Chengdu
Chengdu (, ; simplified Chinese: 成都; pinyin: ''Chéngdū''; Sichuanese pronunciation: , Standard Chinese pronunciation: ), alternatively romanized as Chengtu, is a sub-provincial city which serves as the capital of the Chinese pro ...
and
Tianjin
Tianjin (; ; Mandarin: ), alternately romanized as Tientsin (), is a municipality and a coastal metropolis in Northern China on the shore of the Bohai Sea. It is one of the nine national central cities in Mainland China, with a total popu ...
. In addition to
Chinese
Chinese can refer to:
* Something related to China
* Chinese people, people of Chinese nationality, citizenship, and/or ethnicity
**''Zhonghua minzu'', the supra-ethnic concept of the Chinese nation
** List of ethnic groups in China, people of ...
domestic brands, there are foreign brands in the stores, including BMW,
Audi
Audi AG () is a German automotive manufacturer of luxury vehicles headquartered in Ingolstadt, Bavaria, Germany. As a subsidiary of its parent company, the Volkswagen Group, Audi produces vehicles in nine production facilities worldwide.
Th ...
and Maserati. It also provides accessories, financial services and used cars.
Electric mobility
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
Las Vegas (; Spanish for "The Meadows"), often known simply as Vegas, is the 25th-most populous city in the United States, the most populous city in the state of Nevada, and the county seat of Clark County. The city anchors the Las Vegas ...
in January 2018. In August 2020, Suning entered into an agreement with the Chinese giant
Nio
are two wrathful and muscular guardians of the Buddha standing today at the entrance of many Buddhist temples in East Asian Buddhism in the form of frightening wrestler-like statues. They are dharmapala manifestations of the bodhisattva Vajra ...
, a Chinese car manufacturer active since 2014 based in
Shanghai
Shanghai (; , , Standard Mandarin pronunciation: ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). The city is located on the southern estuary of the Yangtze River, with the Huangpu River flowin ...
, 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.
In the "Suning Plaza Auto", in accordance with the
Baojun
Baojun () is a Chinese automobile marque owned by a joint venture of General Motors and SAIC Motor, SAIC-GM-Wuling Automobile.
History
The Baojun marque was established in 2010 as a cheaper alternative to existing GM brands Chevrolet and Buic ...
brand, the
Baojun E100
The Baojun E100 is a battery electric city car manufactured by SAIC-GM-Wuling (SGMW) since 2017 under the Baojun marque. It is a two-seater car with two doors and a hatch at the rear. It is the first vehicle in Baojun's electric microcar series. ...
is for sale is a two-seater electric
microcar
Microcar is a term often used for the smallest size of cars, with three or four wheels and often an engine smaller than . Specific types of microcars include bubble cars, cycle cars, invacar, quadricycles and voiturettes. Microcars are oft ...
, with two doors and a hatch in the rear, and a design similar to a
Smart electric drive
The Smart EQ Fortwo, formerly Smart Fortwo electric drive, ''smart ed'' or Smart Fortwo EV, is a battery electric vehicle variant of the Smart Fortwo city car made by Smart.
The Smart EQ Forfour is an electric variant of the larger Smart Forfou ...
and is the first vehicle in Baojun's electric microcar series, then there is the E200 and E300 version.
Tencent
Tencent Holdings Ltd. () is a Chinese multinational technology and entertainment conglomerate and holding company headquartered in Shenzhen. It is one of the highest grossing multimedia companies in the world based on revenue. It is also the wo ...
FAW Group
China FAW Group Corp., Ltd. (First Automobile Works) is a Chinese state-owned automobile manufacturer headquartered in Changchun, Jilin.
collaborate for a service in the ride-sharing sector, with an investment of US$1.5 billion.
Sponsorship
In 2014 Suning.com sponsored the Spanish club
FC Barcelona
Futbol Club Barcelona (), commonly referred to as Barcelona and colloquially known as Barça (), is a professional football club based in Barcelona, Catalonia, Spain, that competes in La Liga, the top flight of Spanish football.
Found ...
. In January 2016, one of the shareholders of Suning Commerce,
Suning Appliance Group
Suning Appliance Group Co., Ltd. () 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, Suning Commerce Group from ...
, completed the purchase of the Chinese football club Jiangsu F.C. The Chinese name of the football club was then renamed as literally ''Jiangsu Suning.com team''. According to Suning Commerce, the company sponsored the football club in 2016.
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
Inter Milan
Football Club Internazionale Milano, commonly referred to as Internazionale () or simply Inter, and colloquially known as Inter Milan in English-speaking countries, is an Italian professional football club based in Milan, Lombardy. Inter is ...
. The deal was approved by the
extraordinary general meeting
An extraordinary general meeting, commonly abbreviated as EGM, is a meeting of members of an organisation, shareholders of a company, or employees of an official body that occurs at an irregular time.' The term is usually used where the group wou ...
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.
On 28 December 2016 the
League of Legends
''League of Legends'' (''LoL''), commonly referred to as ''League'', is a 2009 multiplayer online battle arena video game developed and published by Riot Games. Inspired by '' Defense of the Ancients'', a custom map for ''Warcraft III'', ...
e-sports
Esports, short for electronic sports, is a form of competition using video games. Esports often takes the form of organized, multiplayer video game competitions, particularly between professional players, individually or as teams. Although orga ...
team T.Bear Gaming, at the time competing in the LSPL (China's secondary league), was acquired by Suning.com and re-branded as Suning Gaming. Following the re-branding, the team qualified for the
League of Legends Pro League
The ''League of Legends'' Pro League (LPL) is the top-level professional league for '' League of Legends'' in China. The first season of the LPL was the 2013 Spring season. The top three finishers of the playoff tournament receive automatic bid ...
by winning the 2017 LSPL spring finals.
Acquisitions and partnerships
Shareholders
After the deal in July 2021, Suning's honorary chair, Zhang Jindong, Suning Holdings Group and Suning Appliance Group will hold a 21.74% in Suning.com, while Alibaba's Taobao will remain the retailer's second-largest shareholder with a 19.99 percent stake. The Suning-Taobao alliance was announced in 2015. The consortium will become the third largest shareholder with a 16.96-percent stake.
Board of directors
Board of Directors in charge as of 2021:
* Xiao Ling Wang - Chairman-Supervisory board
* Mingduan Huang - Chairman
* Jun Ren - President & Director
* Jian Ying Li - Member-Supervisory board
* Zhi Song Hua - Member-Supervisory board
* Xian Ming Fang - Independent director
* Shi Ping Liu - Independent director
* Qun Cao - Non-independent director
* Kangyang Zhang - Director
* Handi Xian - Director
Financial data
Gallery
File:Suning usa.jpg, Suning US R&D Center and Silicon Valley Research Institute in
Palo Alto
Palo Alto (; Spanish for "tall stick") is a charter city in the northwestern corner of Santa Clara County, California, United States, in the San Francisco Bay Area, named after a coastal redwood tree known as El Palo Alto.
The city was es ...
File:Suning Square.jpg, The "Suning Square" shopping complex in
Lianyungang
Lianyungang () is a prefecture-level city in northeastern Jiangsu province, China. It borders Yancheng to its southeast, Huai'an and Suqian to its south, Xuzhou to its southwest, and the province of Shandong to its north. Its name derives f ...
File:CarrefourChinaShanghai.JPG, A Carrefour supermarket in
Shanghai
Shanghai (; , , Standard Mandarin pronunciation: ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). The city is located on the southern estuary of the Yangtze River, with the Huangpu River flowin ...
File:LaOX ASOBITCITY.JPG, A Laox center in Akihabara
File:无锡苏宁广场20200912.jpg, The "Wuxi Suning Plaza Complex", located in the city of
Wuxi
Wuxi (, ) is a city in southern Jiangsu province, eastern China, by car to the northwest of downtown Shanghai, between Changzhou and Suzhou. In 2017 it had a population of 3,542,319, with 6,553,000 living in the entire prefecture-level city ar ...
Suning Appliance Group
Suning Appliance Group Co., Ltd. () 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, Suning Commerce Group from ...
China Daily
''China Daily'' () is an English-language daily newspaper owned by the Central Propaganda Department of the Chinese Communist Party.
Overview
''China Daily'' has the widest print circulation of any English-language newspaper in China. T ...
China Daily
''China Daily'' () is an English-language daily newspaper owned by the Central Propaganda Department of the Chinese Communist Party.
Overview
''China Daily'' has the widest print circulation of any English-language newspaper in China. T ...
China Daily
''China Daily'' () is an English-language daily newspaper owned by the Central Propaganda Department of the Chinese Communist Party.
Overview
''China Daily'' has the widest print circulation of any English-language newspaper in China. T ...
China Daily
''China Daily'' () is an English-language daily newspaper owned by the Central Propaganda Department of the Chinese Communist Party.
Overview
''China Daily'' has the widest print circulation of any English-language newspaper in China. T ...
China Radio International
China Radio International (CRI) is the state-owned international radio broadcaster of China. It is currently headquartered in the Babaoshan area of Beijing's Shijingshan District. It was founded on December 3, 1941, as Radio Peking. It later ...
'' at ''
China Daily
''China Daily'' () is an English-language daily newspaper owned by the Central Propaganda Department of the Chinese Communist Party.
Overview
''China Daily'' has the widest print circulation of any English-language newspaper in China. T ...