The Suning Commerce Group

[CafeCordoba]

They talk about Suning.com. Suning.com is just one subsidiary of Suning Holdings Group. Though it's probably the one which makes (or made) the money for the group.

 

[.h.]

probably not, tbf, I thought Suning was primarily working well in retail and the ecomm was lagging (thus all the problems in the pandemic)?

 

[brehme1989]

It's not an issue if we don't know these stuff on Suning. But I don't think even Zhang Jr knows which makes it extremely worrying

 

[.h.]

yeah. I wish I understood more/articles were translated more clearly about whats actually happening, this whole suspension of 5.8% of their float etc is... bizarre to say the least.

 

[J..]

So we will soon be owned directly by the communists? Suning.com generates a third of the revenue of the Suning Holdings Group. Suning is basically a dead man walking.

 

[.h.]

if it comes to that, Suning will sell us off - they might as well take the money and reinvest it back into the core business, irrespective of what the valuation is really.

The valuation to me is a bit unclear right now, if its 1 billion does that mean Suning takes on the debt and loans? I think so, but I'm not 100% sure.

 

[DARi0]

Zhang Jindong could lose control of the ownership of Inter, as Alibaba Group Holding and the Jiangsu provincial government are on the verge of buying a stake in Suning.

Suning had to comply with the provisions coming from Beijing and the impact of the coronavirus pandemic affected their position.

Bloomberg reports Suning could make an announcement already this week, as Alibaba Group Holding and the Jiangsu provincial government are close to reaching a deal that could influence the ownership of the Nerazzurri.

The report claims Zhang will no longer have control of Suning after the deal, which would raise questions over the future of the Zhang family at the helm of Inter.

However, Bloomberg reveals the negotiations between Suning and Alibaba are ongoing ‘and a deal could still be delayed or fall apart’.

 

[TheNetworkZ]

It would be wild going from being owned by Zhang to Jack Ma

 

[J..]

Jack Ma doesn't have much to do with Alibaba? He was too capitalistic in the eyes of the communist government.

 

[brightbackground]

That's just our luck. You can bet that if Inter was bought by a billionaire oil sheikh, the next day the world switches to clean energy.

 

[CafeCordoba]

So it's not just Suning.com but the whole Suning company. So basically Zhangs wouldn't call the shots regarding Inter anymore if that deal goes through.

I don't know, maybe that sounds a bit scary as Zhangs ordered only one player sale. Alibaba and those folks in China probably don't give a flying fuck about Inter.

 

[J..]

Perhaps Joao Mario would be sellable on Aliexpress?

 

[TheNetworkZ]

So it's not just Suning.com but the whole Suning company. So basically Zhangs wouldn't call the shots regarding Inter anymore if that deal goes through.

I don't know, maybe that sounds a bit scary as Zhangs ordered only one player sale. Alibaba and those folks in China probably don't give a flying fuck about Inter.

On the other hand we can hope that if they don't care about Inter that they'll sell the club within their first year.

 

[Puma]

What business does a provincial government in China have in owning a stake in Inter?

What a complete fuckn shit show.

I wish the Chinese would just fuck off and find something else to ruin. Preferably themselves.

 

[CafeCordoba]

So these latest "Chinese restrictions" were all along about Suning, not the whole China. They fucked up their own business, their success got into their heads and they started expanding to every direction too fast.

Now they are on the verge of getting eaten by a bigger fish because they are so full of debt they cannot fulfil their commitments.

 

[Il Drago]

On the other hand we can hope that if they don't care about Inter that they'll sell the club within their first year.

Certainly. I am expecting the club to have a new ownership till the end of next season. This is basically a bailout. Those guys don't give a fuck about Inter. They will try to get rid of Inter asset asap. They also aren't going to have Suning excessive demands to sell the club. Let's hope we don't end up in the hands of a vulture fund.

 

[.h.]

well, I think:
1 - there's no 'need' to sell to a vulture fund. They normally get involved if you need financing (e.g. Milan). We'll just sell to whoever offers the best price, and a vulture fund isnt going to want to pay above market, whereas someone who is willing to put the work into the club and sees the potential for profit is more likely to do it
2 - I doubt very much that with all this mess with Suning at home, Inter even comes up on the radar. Albeit we're probably 10-20% of the Suning market cap right now?? They've got a massive retail giant who presumably employ hundreds of thousands of people to turn around, Inter isnt even a blip on that radar IMHO.

 

[Strale]

Awesome, I feel jaded already.

 

[Il Drago]

Alibaba-Led Bailout of China Retailer Draws Haier, Xiaomi​

China’s major home appliance makers Haier Group Co. and Xiaomi Inc. are among investors considering joining Alibaba Group Holding Ltd. in a mega bailout of cash-strapped Suning.com Co., according to people familiar with the matter.
Midea Group Co., TCL Technology Group Corp. and Yuyue Group are also weighing to buy a stake in the retail arm of Chinese billionaire Zhang Jindong’s Suning empire, said the people, who asked not to be identified as the information is private. They could be joining Alibaba and the government of China’s eastern Jiangsu province, which are nearing a deal for an interest in Suning.com, Bloomberg News reported earlier this week.

Negotiations are still ongoing and could be delayed or fall apart, they added. A representative for Xiaomi declined to comment, while representatives for Suning, Haier, Midea, TCL and Yuyue didn’t immediately respond to requests for comment.
Suning.com, one of China’s biggest retailers of appliances, electronics and other consumer goods, had a market value of about 52 billion yuan ($8 billion) before trading was halt on June 16. It’s been in trouble for some time: the retail business was weakened by the initial slowdown in spending during the pandemic, and concerns about its cash flow intensified in September, when Zhang waived his right to a 20 billion yuan payment from China Evergrande Group, the world’s most indebted property developer.
The stock tumbled to a nearly eight-year low in Shenzhen in June after a Beijing court froze 3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com, and as creditors agreed to extend a bond for Suning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.

https://www.bloomberg.com/news/arti...t-of-china-retailer-said-to-draw-haier-xiaomi

 

[J..]

Xiaomi? Our webshop will now sell Zigbee and Z-wave devices with the Inter brand on it. Cool.