The Suning Commerce Group

NimAraya

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Inter’s owners Suning have received a much-needed financial boost from the Chinese government, according to a report in the Chinese media today.

Caixin (via Calcio e Finanza) revealed Zhang Jindong’s group had taken 3.2 million yuan – a little more than €400 million – from a fund controlled by the state.

Suning.com have announced that 5.59% of their company shares will be transferred to a group of four state businesses which is controlled by Jiangsu’s provincial government.

The shares are controlled by one of Zhang’s companies affiliated with Suning.com, which currently holds 19.7% of the Suning’s shares in total.Zhang will be obliged to repurchase the shares before April 1 in 2022, the report added, by paying back the 3.2 million yuan fee plus interest (which should be around 3.85% annually).

Inter’s owners are known to be battling their most difficult financial period since taking control of the club in 2016, and it remains to be seen if this latest development will have any repercussions on the Nerazzurri.
 

Devious

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Looks like the only beneficial cunts from this Corona virus is the Chinese government. They’ve made the most purchases and investments in the last two years under the cover of “aiding companies in a time of crisis “.

Looks like it’s going as planned for them. I’m not sure why hasn’t the US or USSR taken measures towards these mass murderer cunts yet? Maybe cause these governments are reaping benefits from it now as well? This world is so fucked up. It’s unimaginable how far men in power can go to have more power and money, these governments moral compass is so fucked they make criminal organizations like the mafia looks like child play.
 
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Bluenine

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So if the Zhangs default on the state loan next year, Suning and Inter will become the property of the Chinese government. Almost makes me wish Suning default on the Oaktree loan first, I prefer evil finance vultures over evil communist governments.
 

Ethor

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Great! then all our new signing will have to have three kids, schooled in China. Grande.
 

bubba zanetti

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So if the Zhangs default on the state loan next year, Suning and Inter will become the property of the Chinese government. Almost makes me wish Suning default on the Oaktree loan first, I prefer evil finance vultures over evil communist governments.

And our new coat of arms will be five pointed red star. Fkn great.
 

.h.

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La Gazzetta dello Sport explores the values ​​relating to investments, debts and the growth of the Inter brand in five years owned by Suning , from that 2016 in which the Chinese giant acquired control of the Nerazzurri club. The group has invested 550 million euros from 2016 to today, with a growth in social media of 232% . In the analysis of this last figure, this is the highest growth rate in the sector in Europe. In terms of employees, then, from the total 160 who worked in the club since 2016, there are now 600 , for an increase of 440 employees in five years. Then, at the level of growth in business valuethe figure for Inter amounts to 120% : this is, in this case, the second best performance in Europe.

The investments of the property do not concern only the market and the strengthening of the squad : on an infrastructural level, Suning's work has led to the Club House in the team's training center, to the center for the youth sector and to the new club headquarters . On the data relating to season tickets (a missing item that has particularly burdened the company's balance sheet since the beginning of the pandemic) for five consecutive seasons, Inter recorded the highest number of season tickets and live spectators in Serie A.

In terms of debt , therefore, there are 323 million net relating to the date of June 2020, for a loss of 102.4 million compared to the previous year.
 

sdvroot

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There are some shit happening in China
https://mobile.twitter.com/FcInterN...terNewsit2Fstatus2F14026919666730762243Fs3D19
Looks like Suning is over.

Trouble continues for the Suning Group in China. As reported by major financial sites, Suning Appliance Group Co. has been fined 3.082 billion yuan by the Beijing Enforcement Court (the Second Intermediate People's Court) for the share transfer transaction to Jiangsu New Retail that took place a few days ago. In recent days Suning Appliance Group had signed a share transfer contract with Jiangsu New Retail Fund, a state-owned company, where 520 million shares were transferred for a price of 6.12 yuan each.

Liu Yuping, Zhang Jindong, Suning Appliance Group Co., Ltd. and Suning Real Estate Group Co. have been sued for this transaction and have already appealed to the Beijing Second Intermediate Court. At present, the act has not yet entered the implementation phase.
 
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.h.

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lol, i dont think thats what the article says...
 

.h.

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I dont really understand whats happening in the court fine situation. Can someone who actually knows what they are talkinga bout provide some insight?

It looks like they've been fined just under 400m euros for non-compliance with the statement they put out to the stock market a few days ago about selling ~5.5% of Suning shares to a state fund, but why are they being fined? What was the non compliance?

Seems bizarre.
 

IM21

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"Suning have been losing value since the government fined Suning two days ago for 380 million dollars and are falling dramatically. This morning -3% in half an hour, a caporetto."


These guys will fuck us so hard....
 

Nahtino

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Suning has done well in growing the Inter Milan Brand, refreshing it. Over all it has been a steady management all things considered, COVID cannot be over emphsised as a major spanner in the machine ...
 

compile

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Inter won't survive fan ownership and not because of financial issues but how fans will react to certain operations, imagine given that fans have some degree of ownership then the board make decisions like guarin vs vucinic swap, what will happen?

- - - Updated - - -

Inter won't survive fan ownership and not because of financial issues but how fans will react to certain operations, imagine given that fans have some degree of ownership then the board make decisions like guarin vs vucinic swap, what will happen?

It's called a vote. Majority wins.
That's besides the point, fan ownership won't happen because Suning WILL NOT sell a piece to the fan base. If they refused €800m+ from a financially stable, multi-billion dollar company what makes anyone think they'll see 1-10% to the fans?

Alibaba is in negotiations for a take over of Suning, that's how bad it is right now. They already own 20% of Suning. Zhang may also get kicked off the board of Suning, he/Suning are attempting to buy a stake in a State-backed fund, EVEN THOUGH THEY ARE IN MASSIVE FUCKING DEBT. So much for Steven going to one of the best schools for business on the planet. They don't know how to manage through a crisis and are blaming COVID for ALL of their issues (when it's only a part of it). Zhang and other shareholders plan to sell 23% of their holdings in the company to a group of state-owned investors (around $2.28bn USD worth).

Like I said last weekish, the outlook for Suning is grim, very grim.
 

CafeCordoba

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Wasn't it that Suning had loaned few billions to Evergrande and they couldn't pay, and then Suning was just "oh well" and they got completely burned in that transaction? I've understood Evergrande couldn't go down because of it's role as an important real estate developer in China. I'm just wondering is CCP or business people in China simply fucking over Zhangs really hard despite them keeping Evergrande "alive".
 

compile

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Wasn't it that Suning had loaned few billions to Evergrande and they couldn't pay, and then Suning was just "oh well" and they got completely burned in that transaction? I've understood Evergrande couldn't go down because of it's role as an important real estate developer in China. I'm just wondering is CCP or business people in China simply fucking over Zhangs really hard despite them keeping Evergrande "alive".
Zhang and Xu Jiayin are friends, Suning gave Evergrande a somewhat $2bn USD loan and instead of recalling it when it was due they extended it 2 years I believe. This angered the CCP as they basically told Zhang to recall it. This was around the time that the CCP was rumored to be thinking of stopping all foreign sports investments. There's 3 companies that the CCP are worried will collapse and take the market with them:
Suning, Evergrande and Huarong.
All 3 have massive debts and are struggling to make payments on them.
Trading of Suning on the Shenzhen Stock Market has been halted since June 15th. Tthe other 2 are still trading.
 
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Government bailout please :slick:
 

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Consortium Led by Alibaba, Jiangsu Government Near Deal for Suning.com​


A consortium led by Alibaba Group Holding Ltd. and the Jiangsu provincial government are nearing a deal to buy a stake in the retail arm of Chinese billionaire Zhang Jindong’s Suning empire, according to people familiar with the matter.
The unit, Suning.com Co., could make an announcement as soon as this week, said the people, who asked not to be identified as the information is private. Zhang will no longer have control of the company after the deal, the people said.

Suning.com’s shares have been halted since June 16, pending major matter announcement. The stock tumbled to a nearly eight-year low in Shenzhen after a Beijing court froze 3 billion yuan ($464 million) worth of shares held by Zhang -- representing 5.8% of Suning.com, and as creditors agreed to extend a 2.89 billion yuan bond for Suning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.
Negotiations are ongoing and a deal could still be delayed or fall apart, the people said. A representative for Suning declined to comment, while representatives for Alibaba and the Jiangsu government didn’t immediately respond to requests for comment.

State-backed investment should relieve liquidity tightness that was exacerbated by Suning’s links to China Evergrande Group, the world’s most indebted property developer. Zhang waived his right to a 20 billion yuan payment from Evergrande in September, helping to save the company but putting pressure on Suning’s cash flow.
https://www.bloomberg.com/news/arti...ed-group-are-said-to-near-deal-for-suning-com
 
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Harpsabu

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Jesus. I suppose its too early to say what this means for inter? Will Steven z lose control of us?
 
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