Suning Holdings Group Co., Ltd. () is a Chinese privately held company. The company shared the same founder Zhang Jindong with the listed company Suning.com, but Suning Holdings was the unlisted portion of Zhang's unincorporated Suning Group. According to All-China Federation of Industry and Commerce, Suning Holdings Group was ranked as the second largest civilian-run enterprise in the Mainland China in 2018. The holding company is notable outside of China for its acquisition of

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 Association football, football List of football ...

in 2016. Suning Holdings, as of 2016, owned an equity stake of 3.33% in Suning.com, formerly known as Suning Commerce Group () and Suning Appliance (). Those companies also shared almost the same name with sister company Suning Appliance Group (), which Zhang owned 48.10% stake as the second largest shareholder. As of 31 December 2016 Suning Appliance Group was the second largest shareholder of Suning.com, after Zhang. Suning Appliance Group was owned by ex-senior staff of Suning.com (including Zhang himself) as at 2002. Since circa 2015 to 10 April 2017, it was owned by Bu Yang (49.1%), Zhang (48.1%) and Sun Weimin (2.8%), the three senior official of Suning.com. In 2020 ranked second in the top 500 non-state owned enterprises in

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

with annual revenues of RMB 665.259 billion and continued to top the list of Internet retailing category. In March 2021, a 23% stake of Suning.com was sold to state-owned investors to improve equity structure and long-term strategy due to financial problems.

Operations

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

Subsidiaries

Suning Rundong

Suning Holdings, via a subsidiary, Suning Rundong (), subscribed the capital increase of Nubia Technology, a subsidiary of Chinese tech company ZTE for in December 2015. After the deal Suning Rundong owned 33.33% stake in Nubia. Nubia Technology sold mobile phone branded "Nubia". In 2016, Nubia became a sponsor of Jiangsu Suning, a sister company of Suning Rundong for a reported . In April 2016, Suning Rundong sold a 4.90% stake in Nubia to Suning Commerce Group ( Suning.com) for , proportional to the original subscribe price. As of 2015, Suning Holdings owned 70% stake in Suning Rundong, Suning.com owned 10% and Chen Yan () owned 20% stake.国家企业信用信息公示系统
ational Credit Information Publicity System(in Chinese) The stake that held by Suning Holdings, was increased to 80% in 2016, acquiring an additional 10% from Suning.com. According to ''China Daily'', Suning Rundong was an investment fund with a size of RMB5 billion.

Suning Culture Investment Management

Suning Culture Investment Management Co., Ltd. () was another investment vehicle of the group. As of 2015, it was 90% owned by Suning Holdings Group and 10% owned by Chen Yan. Suning Culture Investment Management invested for 10% stake in China International Broadcasting Network (CIBN; incorporated as ), an

internet television Streaming television is the digital distribution of television content, such as films and television show, television series, Streaming media, streamed over the Internet. Standing in contrast to dedicated terrestrial television delivered by Broadc ...

channel. On 31 October 2015, Suning Culture Investment acquired 68.08% stake in a video hosting and streaming website: PPTV (the parent company was incorporated as PPLive Corporation, the local unit was incorporated as Shanghai SynaCast Media Tech) from Caymans-incorporated Great Universe Limited, an indirect wholly owned subsidiary of sister company Suning.com for . PPTV secured the exclusive China TV rights of

La Liga The Campeonato Nacional de Liga de Primera División, commonly known as the Primera División or La Liga, and officially known as LaLiga EA Sports for sponsorship reasons, is a professional association football league in Spain and the highest ...

for 5 seasons in mid-2015.

Suning Jinkong

Suning Jinkong () is an investment vehicle of the group in financial sector. As of 31 December 2016, it was 80% owned by Suning Holdings and 20% owned by Chen Yan. Moreover, all the paid-in share capital was contributed by Suning Holdings. Suning Jinkong purchased 35% stake of Suning Jinfu (), for in April 2016. That company was a subsidiary of Suning.com. The 35% stake was later transferred to a private equity fund Nanjing Runyu (), which Suning.com claimed that, the fund was still controlled by Suning Holdings. According to National Credit Information Publicity System, however, CITIC Trust was a unit holder of the private equity fund; Suning Rundong was the general partner of the fund, which the fund incorporated as a

limited partnership A limited partnership (LP) is a type of partnership with general partners, who have a right to manage the business, and limited partners, who have no right to manage the business but have only limited liability for its debts. Limited partnership ...

Suning Sports

Jiangsu Suning Sports (), is a joint venture of Suning Holdings and Suning Appliance Group. Suning Sports had a share capital of . As of 31 December 2016, Suning Holdings owned 90% stake. Suning Sports became an

angel investor An angel investor (also known as a business angel, informal investor, angel funder, private investor, or seed investor) is an individual who provides capital to a business or businesses, including startups, usually in exchange for convertible de ...

of Champdas (incorporated as ), a company specialize in sports statistics in 2016. Suning Sports also appointed football coach and former player Gong Lei as their sports director. Jiangsu Suning Sports had a sister company Suning Sports International Limited, a company incorporated in Hong Kong, which was the subsidiary of Suning Culture Investment Management instead, at the date of incorporation on 26 May 2016. However, it was known that Jiangsu Suning Sports had acquired Suning Sports International on 30 May 2016. On February 28, 2021, Suning Group immediately halted operations at their Chinese football clubs - including champions Jiangsu - due to financial woes.

Inter Milan

On 6 June 2016 Suning Holdings, via Great Horizon S.à r.l., signed a contract to acquire a majority stake (about 70% shares) in

by the subscription of a capital increase and from the consortium of Erick Thohir (International Sports Capital) and the consortium of

Massimo Moratti Massimo Moratti (born 16 May 1945) is an Italian billionaire petroleum businessman, the former owner of Inter Milan and chairman of the Saras S.p.A., Saras Group, founded in 1962 by his father, industrialist Angelo Moratti. The main production si ...

(Internazionale Holding). 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 wo ...

on 28 June, which after the deal, Suning Holdings owned 68.55% shares. According to website ''Calcio e Finanza'' (which purchased filings in Hong Kong Companies Registry and Luxembourg Business Registers) and ''

Il Sole 24 Ore (; English: "The Sun 24 Hours") is the Italian financial newspaper of record, owned by Confindustria, the Italian employers' federation. is the leading financial daily in Italy. History and profile was first published on 9 November 1965 as ...

'' columnist Carlo Festa, Great Horizon direct parent company was Suning Sports International Limited, in turn a subsidiary of Suning Culture International Limited (as of the date of incorporation of Suning Sports International on 26 May 2016), in turn a subsidiary of Suning Culture Investment Management. According Suning Sports International's 2017 ''Annual Return'' submission to the Hong Kong Companies Registry, Jiangsu Suning Sports had acquired the entire share capital of Suning Sports International from sister company Suning Culture International on 30 May 2016, few weeks before the takeover of Inter Milan. However, Chen Yan remained as the sole director of Suning Sports International. In February 2021, according to the ''

Financial Times The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and also published digitally that focuses on business and economic Current affairs (news format), current affairs. Based in London, the paper is owned by a Jap ...

'', Inter Milan is working with

Goldman Sachs The Goldman Sachs Group, Inc. ( ) is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered in Lower Manhattan in New York City, with regional headquarters in many internationa ...

and rushing to raise at least $200m in emergency cash or sell the club, after the Italian football club's finances deteriorated due to the pandemic and heavy spending on top players. On May 2, 2021, four days before the end of the

Serie A The Serie A (), officially known as Serie A Enilive in Italy and Serie A Made in Italy abroad for sponsorship reasons, is a professional association football league in Italy and the highest tier of the Italian football league system. Establish ...

championship, he won the nineteenth championship in the history of the club, eleven years after the triumph of the season 009-2010. The Suning Group, in the fifth year of management of the company, after the second place in domestic league of the season 2019-2020 and the defeat in the final of

UEFA Europa League The UEFA Europa League (UEL), usually known simply as the Europa League, is an annual association football, football club competition organised since 1971 by the UEFA, Union of European Football Associations (UEFA) for eligible European footb ...

, is the first foreign property to win the

Scudetto The ''scudetto'' (; Italian for 'little shield') is a decoration having the colors of the flag of Italy which is sewn onto the jersey of the Italian sports clubs that won the highest level championship of their respective sport in the previous ...

Italy Italy, officially the Italian Republic, is a country in Southern Europe, Southern and Western Europe, Western Europe. It consists of Italian Peninsula, a peninsula that extends into the Mediterranean Sea, with the Alps on its northern land b ...

and the first Chinese to win in

Europe Europe is a continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere. It is bordered by the Arctic Ocean to the north, the Atlantic Ocean to the west, the Mediterranean Sea to the south, and Asia to the east ...

. In mid-May 2021, Inter signed a 275 million

euro The euro (currency symbol, symbol: euro sign, €; ISO 4217, currency code: EUR) is the official currency of 20 of the Member state of the European Union, member states of the European Union. This group of states is officially known as the ...

($336 million) deal with US based Oaktree Capital Management in the hope the deal will help the team's troubled finances that were damaged by the

COVID-19 pandemic The COVID-19 pandemic (also known as the coronavirus pandemic and COVID pandemic), caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), began with an disease outbreak, outbreak of COVID-19 in Wuhan, China, in December ...

. The fund granted the loan to Great Horizon Sarl – the Luxembourg-based holdings company via which Suning controls Inter. In the first five years of Suning's management, the company value touched + 120% (second best performance in

); more than 500 million

s was spent on the market, 500 million fans are reached in worldwide and the highest growth in all of Europe of followers on social media (+ 232%) and new infrastructure was also created, such as the club house in the sports center, the Inter media house, the center for the youth sector and the new

headquarters Headquarters (often referred to as HQ) notes the location where most or all of the important functions of an organization are coordinated. The term is used in a wide variety of situations, including private sector corporations, non-profits, mil ...

in Viale della Liberazione,

Milan Milan ( , , ; ) is a city in northern Italy, regional capital of Lombardy, the largest city in Italy by urban area and the List of cities in Italy, second-most-populous city proper in Italy after Rome. The city proper has a population of nea ...

. On 22 May 2024, Suning relinquished control of its controlling stake in Inter Milan after it failed to repay the €395 million it owed Oaktree Capital Management, with the €275 million loan taken out in 2021 being collateralized by its shares in the club.

Charity

Suning's public welfare philosophy is "Rooting Society and Growing Business". The Suning Social Worker Voluntary Action "1 + 1 Sunshine Walk" invites Suning employees to take voluntary social responsibility. At least one day per year is used for social volunteer work and at least one salary day is donated each year for public assistance donations. In addition to donating to charity, Suning also initiated the "Suning Nesting Action" to build school buildings in poor areas; the "Suning Xiqiao Project" to help repair repairs in remote areas to solve travel difficulties and finance the "Suning Sunny Dream" rural education. Additionally, Suning Appliance annually sponsors tree planting activities in various regions of China. On December 26, 2013, following the tradition of celebrating public welfare, Suning made charitable donations, including the donation of 36,95 millions yuan. In August 2016, Suning, which recently became the majority shareholder of Inter, donated € 200,000 to help the people affected by the

earthquake An earthquakealso called a quake, tremor, or tembloris the shaking of the Earth's surface resulting from a sudden release of energy in the lithosphere that creates seismic waves. Earthquakes can range in intensity, from those so weak they ...

Central Italy Central Italy ( or ) is one of the five official statistical regions of Italy used by the National Institute of Statistics (ISTAT), a first-level NUTS region with code ITI, and a European Parliament constituency. It has 11,704,312 inhabita ...

. In January 2020, with the spread of

, Suning Holdings Group mobilized through the divisions of "Suning International" and "Suning Logistics", supported relief efforts from the start of the emergency, with free shipping services and product donations imported from abroad to local

hospital A hospital is a healthcare institution providing patient treatment with specialized Medical Science, health science and auxiliary healthcare staff and medical equipment. The best-known type of hospital is the general hospital, which typically ...

s and institutions. President Zhang Kangyang, the Inter club and Suning have donated 300,000

Personal protective equipment Personal protective equipment (PPE) is protective clothing, helmets, goggles, or other garments or equipment designed to protect the wearer's body from injury or infection. The hazards addressed by protective equipment include physical, elect ...

and

Surgical mask A surgical mask, also known by other names such as a medical face mask or procedure mask, is a personal protective equipment used by healthcare professionals that serves as a mechanical barrier that interferes with direct airflow in and out of r ...

Wuhan Wuhan; is the capital of Hubei, China. With a population of over eleven million, it is the most populous city in Hubei and the List of cities in China by population, eighth-most-populous city in China. It is also one of the nine National cent ...

and to the

Hubei Hubei is a province of China, province in Central China. It has the List of Chinese provincial-level divisions by GDP, seventh-largest economy among Chinese provinces, the second-largest within Central China, and the third-largest among inland ...

, to support the fight against the COVID-19 pandemic. On February 25, 2021, Suning Group received the "China Charity Awards" for the sixth time, the highest recognition in this field, for continuing its efforts in the fight against

poverty Poverty is a state or condition in which an individual lacks the financial resources and essentials for a basic standard of living. Poverty can have diverse Biophysical environmen ...

. Suning has donated more than RMB 2,3 billions for targeted

poverty Poverty is a state or condition in which an individual lacks the financial resources and essentials for a basic standard of living. Poverty can have diverse Biophysical environmen ...

reduction and rural revitalization, with RMB 850 millions earmarked for special initiatives. Suning has donated funds and equipment to 388 impoverished counties in over 20

provinces A province is an administrative division within a country or state. The term derives from the ancient Roman , which was the major territorial and administrative unit of the Roman Empire's territorial possessions outside Italy. The term ''provi ...

, including

Yunnan Yunnan; is an inland Provinces of China, province in Southwestern China. The province spans approximately and has a population of 47.2 million (as of 2020). The capital of the province is Kunming. The province borders the Chinese provinces ...

Sichuan Sichuan is a province in Southwestern China, occupying the Sichuan Basin and Tibetan Plateau—between the Jinsha River to the west, the Daba Mountains to the north, and the Yunnan–Guizhou Plateau to the south. Its capital city is Cheng ...

Guizhou ) , image_skyline = , image_caption = , image_map = Guizhou in China (+all claims hatched).svg , mapsize = 275px , map_alt = Map showing the location of Guizhou Province , map_caption = Map s ...

Xinjiang Xinjiang,; , SASM/GNC romanization, SASM/GNC: Chinese postal romanization, previously romanized as Sinkiang, officially the Xinjiang Uygur Autonomous Region (XUAR), is an Autonomous regions of China, autonomous region of the China, People' ...

and

Shaanxi Shaanxi is a Provinces of China, province in north Northwestern China. It borders the province-level divisions of Inner Mongolia to the north; Shanxi and Henan to the east; Hubei, Chongqing, and Sichuan to the south; and Gansu and Ningxia to t ...

. The company has built 170 Suning

bridge A bridge is a structure built to Span (engineering), span a physical obstacle (such as a body of water, valley, road, or railway) without blocking the path underneath. It is constructed for the purpose of providing passage over the obstacle, whi ...

s, 160 Suning Dream Center, 74 Suning school buildings, helping to solve the issues of basic education and housing for more than 100,000 school-age

children A child () is a human being between the stages of childbirth, birth and puberty, or between the Development of the human body, developmental period of infancy and puberty. The term may also refer to an unborn human being. In English-speaking ...

in the country's

rural area In general, a rural area or a countryside is a geographic area that is located outside towns and cities. Typical rural areas have a low population density and small settlements. Agricultural areas and areas with forestry are typically desc ...

s, 20 roads and countless other public interest projects. In addition, its football charity program covers over 300

school A school is the educational institution (and, in the case of in-person learning, the Educational architecture, building) designed to provide learning environments for the teaching of students, usually under the direction of teachers. Most co ...

s, while the Dream Caravan-Suning project to bring education to students across the country has already reached 60 schools, starting dozens of educational courses. It has opened over 7,000

E-commerce E-commerce (electronic commerce) refers to commercial activities including the electronic buying or selling products and services which are conducted on online platforms or over the Internet. E-commerce draws on technologies such as mobile co ...

stores and created channels to help farmers sell their products on digital pavilions. Total sales exceeded RMB 14 billions, destined for over 10,000 poverty-stricken

village A village is a human settlement or community, larger than a hamlet but smaller than a town with a population typically ranging from a few hundred to a few thousand. Although villages are often located in rural areas, the term urban v ...

s and helping over 500,000 families. The

company A company, abbreviated as co., is a Legal personality, legal entity representing an association of legal people, whether Natural person, natural, Juridical person, juridical or a mixture of both, with a specific objective. Company members ...

also launched 116

poverty reduction Poverty reduction, poverty relief, or poverty alleviation is a set of measures, both economic and humanitarian, that are intended to permanently lift people out of poverty. Measures, like those promoted by Henry George in his economics classi ...

training centers in 111 hard-hit counties, employing more than 6,000

people The term "the people" refers to the public or Common people, common mass of people of a polity. As such it is a concept of human rights law, international law as well as constitutional law, particularly used for claims of popular sovereignty. I ...

Financial data

Sister companies

* Suning Real Estate, Zhang owned 65% stake * Suning Appliance Group, Zhang owned 48.1% stake as the second largest shareholder * Suning.com, Zhang owned 17.62% stake directly

References

External links

* {{Suning Holdings Group , state=expanded Holding companies of China Conglomerate companies of China Privately held companies of China Companies based in Nanjing