Suning Holdings Group

For other related companies, see Suning.
Suning Holdings Group
privately held limited company
Industry Holding company
Predecessor divisions of Suning Group
Founded
  • 1990 (predecessor of Suning Group)
  • (2011-06-14)14 June 2011 (date of incorporation)[1]
Founder Zhang Jindong[1]
Headquarters Unit C, 14th floor, 7 Shanxi Road, Nanjing, China[1]
Key people
 Zhang Jindong (Chairman)[1]
Profit minus CN¥88 million (Q1–3 2015[2])
Total assets CN¥4.062 billion (Q1–3 2015[2])
Total equity minus CN¥226 million (Q1–3 2015[2])
Owner Zhang Jindong (100%)[1][3]
Subsidiaries
  • Suning Rundong (70%)
  • Suning Culture Investment (90%)
  • – PPTV (68.08%)
  • Suning Jinkong
  • Suning Sports
  • – Inter Milan (68.55% via a Lux SPV)
Footnotes / references
in separate balance sheets (unaudited)[2]
Suning Holdings Group Co., Ltd.
Simplified Chinese 苏宁控股集团有限公司
Traditional Chinese 蘇寕控股集團股份有限公司

Suning Holdings Group Co., Ltd. (Chinese: 苏宁控股集团有限公司) is a Chinese holding company which owned an equity stake of 3.33% in Suning Commerce Group[4] (Chinese: 苏宁云商; ex-苏宁电器股份). As at the first quarter 2016, Zhang owned 100% stake in Suning Holdings.[1][3] Suning Holdings had a share capital of CN¥1 billion as at 20 June 2016, increased from CN¥50 million.[1]

The holding company is also famous for the acquisition of Inter Milan.[5][6]

The company also shared almost the same name with sister company Suning Appliance Group (Chinese: 苏宁电器集团有限公司), which Zhang owned 48.10% stake as the second largest shareholder. Suning Appliance Group was the second largest shareholder of the Suning Commerce Group, after Zhang, until June 2016.[3] It was owned by ex-senior staff of Suning Commerce Group as at 2002.[7] Since circa 2015, it was owned by Bu Yang (49.1%), Zhang (48.1%) and Sun Weimin (2.8%), the three senior official of Suning Commerce Group.[8]

Operations

In June 2016 Suning Holdings signed a framework agreement with the government of Shandong Province.[9]

Subsidiaries

Suning Rundong

Suning Holdings, via a subsidiary, Suning Rundong (pinyin: Sūníng rùndōng gǔquán tóuzī guǎnlǐ yǒuxiàn gōngsī), subscribed the capital increase of Nubia Technology, a subsidiary of ZTE for CN¥1.930 billion in December 2015.[10] After the deal Suning Rundong owned 33.33% stake in Nubia.[10][11] Nubia Technology sold mobile phone branded "Nubia".

In 2016 Nubia became a sponsor of Jiangsu Suning F.C., a sister company of Suning Rundong for a reported CN¥150 million.[12]

In April 2016 Suning Rundong sold 4.90% stake in Nubia to Suning Commerce for CN¥283.7 million.[13]

Suning Holdings owned 70% stake in Suning Rundong,[10] Suning Commerce owned 10%[14] and Chen Yan (Chinese: 陈艳) owned 20% stake.[15]

Suning Culture Investment Management

Suning Culture Investment Management (Chinese: 苏宁文化投资管理有限公司) is 90% owned by Suning Holdings Group and 10% owned by Chen Yan.[16][17]

Suning Culture Investment Management invested 19.6 million RMB for 10% stake in China International Broadcasting Network (CIBN, traded as Chinese: 国广东方网络(北京)有限公司), an internet television channel.[17][18] The other investor of CIBN were Global Broadcasting Media Group (Chinese: 国广环球传媒控股有限公司, a joint venture (50–50) of China Radio International and Chinese: 金正源联合投资控股有限公司, literally JinZhengYuan Union Investment Holding) for 34.0004% stake, Huawen Media Investment for 30.9996% stake, the operator of Youku (Chinese: 合一信息技术(北京)有限公司) for 10% stake and a subsidiary (Chinese: 桂林东方时代投资有限公司) of Oriental Times Media Corporation (Chinese: 东方时代网络传媒股份有限公司) for 15% stake.

Suning Culture Investment also acquired SynaCast in 2015.[19]

On 31 October 2015 Suning Culture Investment acquired 68.08% stake in PPTV (as PPLive Corporation) from Great Universe Limited, a wholly owned subsidiary of Suning Commerce for 2.5879931 billion RMB.[20][21] PPTV secured the TV rights of La Liga in mid-2015.[22]

Suning Jinkong

Suning Jinkong (Chinese: 苏宁金控投资有限公司, literally Suning Financial Holding), is a joint venture of Suning Holdings Group and Chen Yan.[15] Suning Jinkong invested 35% stake in a subsidiary of Suning Commerce Group, known as Suning Jinfu (Chinese: 苏宁金融服务(上海)有限公司, literally Suning Financial Services (Shanghai) Co,. Ltd.), for 5.834 billion RMB.[23]

Suning Sports

In 2016 Suning Holdings, via Suning Sports (Chinese: 江苏苏宁体育产业有限公司), a joint venture with Suning Appliance Group Co., Ltd.,[24] acquired a majority stake (about 70%) in Inter Milan for about €270 million, by the subscription of a capital increase and from the consortium of Erick Thohir (International Sports Capital) and the consortium of Massimo Moratti (Internazionale Holding).[25] Suning Sports also appointed Gong Lei as a sporting director.[26] Suning Sports had a share capital of 1 billion RMB,[24] which the subsidiary used a Luxembourg based company Great Horizon S.á r.l. to purchase Inter, in order to avoid capital control of China.

Suning Holdings became an angel investor of Champdas (traded as Shanghai Chuangbing Information Technology Co., Ltd. Chinese: 上海创冰信息科技有限公司), a company specialize in sports statistics in 2016.[27][28] According to the filing in Shanghai, Suning Sports was the owner.

Sister companies

References

  1. 1 2 3 4 5 6 7 "苏宁控股集团有限公司" (in Chinese). 江苏省工商行政管理局 (Administration for Industry and Commerce of Jiangsu Province). Retrieved 9 November 2016.
  2. 1 2 3 4 "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). China Merchants Securities (in Chinese). hosted by SZSE. 31 March 2016. Retrieved 8 June 2016.
  3. 1 2 3 "2016 年第一季度报告" [First Quarterly Report 2016] (PDF) (in Chinese). Suning Commerce Group. 29 April 2016. Retrieved 6 June 2016.
  4. ↑ "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.
  5. ↑ "Suning Holdings Group acquires majority stake of F.C. Internazionale Milano". F.C. Internazionale Milano. 6 June 2016. Retrieved 6 June 2016.
  6. ↑ Joe Wright (6 June 2016). "Inter sold to Chinese company Suning". Goal.co.uk. 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-party transaction] (PDF) (in Chinese). Suning Commerce Group. 6 August 2004. Retrieved 6 June 2016.
  8. ↑ "苏宁云商集团股份有限公司简式权益变动报告书" [Change in equity stake in Suning Commerce Group] (PDF). Suning Appliance Group (in Chinese). hosted by cninfo.com.cn. 13 January 2016. Retrieved 8 June 2016.
  9. ↑ "山东省政府与苏宁控股集团签署战略合作框架协议" (in Chinese). Department of Commerce of Shandong Province. 25 June 2016. Retrieved 28 June 2016.
  10. 1 2 3 "Introduction of a Strategic Investor by a Subsidiary and Waiver of Preemptive Subscription Rights by the Company" (PDF). ZTE. 31 December 2015. Retrieved 7 June 2016.
  11. ↑ "Nubia to receive [US]$297m cash investment from Suning". China Daily. 31 December 2015. Retrieved 11 June 2016.
  12. ↑ "Nubia to sponsor Jiangsu Suning FC for RMB150m". ytsports.cn. 18 February 2016. Retrieved 11 April 2016.
  13. ↑ "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.
  14. ↑ "2015 Annual Report" (PDF) (in Chinese). Suning Commerce Group. 31 March 2016. Retrieved 9 November 2016.
  15. 1 2 Shanghai Government database (in Chinese)
  16. ↑ Beijing Government database (in Chinese)
  17. 1 2 "关于对国广东方网络(北京)有限公司追加投资暨关联交易事项的公告" [Announcement on capital increase in Global Broadcasting – Oriental Network (Beijing) Co,. Ltd. and related party transaction] (PDF) (in Chinese). Huawen Media Investment Corporation. 25 April 2016. Retrieved 10 June 2016.
  18. ↑ http://www.cibn.cc/
  19. ↑ SC-13E3 filing of Ku6 Media 22 April 2016 U.S. Securities and Exchange Commission
  20. ↑ "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.
  21. ↑ "Suning Commerce : to Sell Stake in PPTV". SinoCast. 4 January 2016. Retrieved 11 June 2016.
  22. ↑ "Historic agreement of LaLiga in China". La Liga. 5 August 2015. Retrieved 17 June 2016.
  23. ↑ "关于公司子公司引入战略投资者和员工持股合伙企业暨关联交易的公告" [Annoucnement of on new investor in our subsidiary, employee subscription scheme and related-party transaction] (PDF) (in Chinese). Suning Commerce Group. 25 April 2016. Retrieved 7 June 2016.
  24. 1 2 Jiangsu government database (in Chinese)
  25. ↑ blog entry on 6 June 2016 weibo (in Chinese)
  26. ↑ blog entry on 3 June 2016 weibo (in Chinese)
  27. ↑ http://www.champdas.com
  28. ↑ "创冰完成A轮融资苏宁体育产业生态圈雏形初显" [Chuangbing completes capital increase, births of the economic system of Suning Sports] (in Chinese). sohu. Retrieved 10 June 2016.
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