Suning Appliance Group Co., Ltd. () is a Chinese holding company that is the third largest shareholder of

Suning Appliance Suning.com Co., Ltd. ( ), formerly Suning Commerce Group Co., Ltd., is one of the largest non-government retailers in China, headquartered in Nanjing, Jiangsu. Suning has more than 10,000 stores nationwide and its e-commerce platform, ''Suning ...

(also known as Suning Domestic Appliance in 1996, Suning Appliance Chain Store (Group) in 2001, Suning Commerce Group from 2013 to 2018, and

Suning.com Suning.com Co., Ltd. ( ), formerly Suning Commerce Group Co., Ltd., is one of the largest non-government retailers in China, headquartered in Nanjing, Jiangsu. Suning has more than 10,000 stores nationwide and its e-commerce platform, ''Suning ...

now), after

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. He also owned 100% stake in Suning Holdings Group, 65% st ...

(founder of Suning) and

Alibaba Group Alibaba Group Holding Limited, branded as Alibaba (), is a Chinese Multinational corporation, multinational technology company specializing in E-commerce in China, e-commerce, retail, Internet, and technology. Founded on 28 June 1999 in Hangzho ...

. The company was formerly known as Jiangsu Suning Appliance Co., Ltd. () and Jiangsu Suning Appliance Group Co., Ltd. ().

History

As of 2002, Jiangsu Suning Appliance Group Co., Ltd. was owned by the ex-senior staff of Suning Appliance Co., Ltd., namely

Liu Xiaomeng Liu Xiaomeng (, born 1954/1955) is a Chinese billionaire from Nanjing, who co-founded Suning Appliance in 1990. In 2014 - at age 59 - ''The Daily Telegraph'' declared that Xiaomeng was one of the world's five self-made women billionaires. Liu ...

, Zhang Jindong, Sun Weimin (, CEO of Suning) and Chen Jinfeng () for 42%, 28%, 18% and 12% stake respectively. The company owned several real estate and leased to Suning Domestic Appliance. When Suning Domestic Appliance was listed in

Shenzhen Stock Exchange The Shenzhen Stock Exchange (SZSE; ) is a stock exchange based in the city of Shenzhen, in the People's Republic of China. It is one of three stock exchanges operating independently in Mainland China, the others being the Beijing Stock Excha ...

, Jiangsu Suning Appliance Group owned 18.29% stake. In 2009 the Chinese name of the company was changed from Jiangsu Suning Appliance Group Co., Ltd. to Suning Appliance Group Co., Ltd.. Around the 2010s, Liu and Chen withdrew as a shareholder of Suning Appliance Group Co., Ltd. The latter still owned an equity stake in Suning Commerce Group directly. Moreover, Bu Yang (), a senior staff of Suning Commerce Group, was introduced as a shareholder of Suning Appliance Group Co., Ltd.. In 2013 Zhang owned 39.75% stake, Bu owned 40.17% and Sun owned 20.08%. In the same year, via Hong Kong incorporated subsidiary Suning International Limited, Suning Appliance Group purchased about 1% stake in Hong Kong listed company Hydoo International Holding Limited. As of the first quarter of 2016, Zhang owned 48.10% stake in Suning Appliance Group Co., Ltd. as the second largest shareholder, Bu was the major shareholder for 49.1% stake, with Sun was the third for 2.8% stake. Suning Appliance Group Co., Ltd. also owned 7.37% stake in Japanese listed company LAOX, which after Suning Commerce and Nihon Kanko Menzei as the third largest shareholder. As of 2015, Suning Appliance Group still leasing some properties to Suning Commerce, for example a floor area of 13,182 sq.m in Suning Galaxy International Plaza (), on 1 Shanxi Road, Nanjing. In 2016 Suning Appliance Group Co., Ltd. purchased 100% stake of Jiangsu Football Club, and in 2021 announced that the club would immediately cease operations. In mid-2016 Suning Appliance Group Co., Ltd. became the third largest shareholder for 15.62% stake, after new shares was issued to

. Suning Appliance Group also owned 25% stake in Suning Real Estate. In 2017, the company subscribed new shares of Hengda Real Estate, a subsidiary of

Evergrande Group The China Evergrande Group was a Chinese property developer, and it was the second largest in China by sales. It was founded in 1996 by Hui Ka Yan (Xu Jiayin). It sold apartments mostly to upper- and middle-income dwellers. Evergrande was i ...

Subsidiaries

* Jiangsu F.C. ** Jiangsu Lady Football Club *

Novotel Novotel is a French midscale hotel brand owned by Accor. Created in 1967 in France, the company grew into what became the Accor group in 1983, and Novotel remained a pillar brand of Accor's multi-brand strategy. Novotel manages 559 hotels in 65 ...

Nanjing Central Suning

Footnotes

References

{{reflist Companies based in Nanjing Privately held companies of China Holding companies of China 2002 in Nanjing