Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout

64
11
Favorite

Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout

Bloomberg2021-07-06

Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（11）

JuniorBoy
·2021-07-06
Wow
Reply
Like
Report
pompeepee
·2021-07-06
wowsies
Reply
4
Report
ALi_BaBa
·2021-07-06
Sad
Reply
3
Report
markmtay
·2021-07-06
Sigh. Was this a way for Baba to make amends?
Reply
3
Report
Fold Replies
- ALi_BaBa:
  Like
  2021-07-06
  Reply
  Report
- Michaelw:
  My take, Yes and no. Why no? Suning Is a strategic investment to increase retail reach
  2021-07-06
  Reply
  Report
车厘子tomato
·2021-07-06
help me like n comment for green day!!!
Reply
4
Report
Fold Replies
- happyfarmer:
  ok
  2021-07-06
  Reply
  Report
TimT
·2021-07-06
Like and comment pls
Reply
4
Report
Fold Replies
- TimT:
  ?
  2021-07-06
  Reply
  Report
- TimT:
  ?
  2021-07-06
  Reply
  Report
- 车厘子tomato:
  like n comment for me
  2021-07-06
  Reply
  Report
psion
·2021-07-06
Comment and like pl
Reply
6
Report
Fold Replies
- TimT:
  ?
  2021-07-06
  Reply
  Report
- 车厘子tomato:
  like n comment
  2021-07-06
  Reply
  Report
FUNKOPOP
·2021-07-06
Comment
Reply
2
Report
Rtanhx
·2021-07-06
?
Reply
2
Report
Fold Replies
- 车厘子tomato:
  like n commentl
  2021-07-06
  Reply
  Report
computers80
·2021-07-06
Like and comment pls
Reply
3
Report
SiewWeng
·2021-07-06
Interesting.
Reply
4
Report
Fold Replies
- computers80:
  ok
  2021-07-06
  Reply
  Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/1112363237?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-07-06 17:18","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1112363237","market":"hk","top_or_hot":-1,"title":"Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout","media":"Bloomberg","content":"<div>\n<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuning.com Gets $1.36 Billion State-Backed, Alibaba Bailout\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-06 17:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"002024","symbol_name":"ST易购","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit","article_id":"1112363237","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1112363237","pubTimestamp":1625563089,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled reta","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"002024":"ST易购","BABA":"阿里巴巴"},"translate_title":"苏宁易购获得阿里巴巴-SW政府支持的13.6亿美元救助","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"002024":0.9,"BABA":0.9},"content_text":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.\nA group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.\nAlibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.\nThe bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.\n“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”\nEvergrande Link\nSuning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.\nThe stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.\nIn a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.\n“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.\nChina is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.\nAcquisition Spree\nSuning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.\nAfter the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":157156546,"gmtCreate":1625574577385,"gmtModify":1703744046138,"author":{"id":"4088594255252740","authorId":"4088594255252740","name":"JuniorBoy","avatar":"https://static.tigerbbs.com/7db962d3e534c3dc2cf2e81f949e2c80","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4088594255252740","authorIdStr":"4088594255252740"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/157156546","repostId":1112363237,"repostType":2,"repost":{"id":"1112363237","kind":"news","pubTimestamp":1625563089,"share":"https://ttm.financial/m/news/1112363237?lang=&edition=fundamental","pubTime":"2021-07-06 17:18","market":"us","language":"en","title":"Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout","url":"https://stock-news.laohu8.com/highlight/detail?id=1112363237","media":"Bloomberg","summary":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled reta","content":"<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.</p>\n<p>A group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.</p>\n<p>Alibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.</p>\n<p>The bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.</p>\n<p>“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”</p>\n<p>Evergrande Link</p>\n<p>Suning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.</p>\n<p>The stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.</p>\n<p>In a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.</p>\n<p>“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.</p>\n<p>China is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.</p>\n<p>Acquisition Spree</p>\n<p>Suning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.</p>\n<p>After the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuning.com Gets $1.36 Billion State-Backed, Alibaba Bailout\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-06 17:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"002024":"ST易购","BABA":"阿里巴巴"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112363237","content_text":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.\nA group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.\nAlibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.\nThe bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.\n“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”\nEvergrande Link\nSuning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.\nThe stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.\nIn a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.\n“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.\nChina is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.\nAcquisition Spree\nSuning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.\nAfter the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":157316912,"gmtCreate":1625565095636,"gmtModify":1703743851347,"author":{"id":"3577522329316309","authorId":"3577522329316309","name":"pompeepee","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3577522329316309","authorIdStr":"3577522329316309"},"htmlText":"wowsies","listText":"wowsies","text":"wowsies","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/157316912","repostId":1112363237,"repostType":4,"repost":{"id":"1112363237","kind":"news","pubTimestamp":1625563089,"share":"https://ttm.financial/m/news/1112363237?lang=&edition=fundamental","pubTime":"2021-07-06 17:18","market":"us","language":"en","title":"Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout","url":"https://stock-news.laohu8.com/highlight/detail?id=1112363237","media":"Bloomberg","summary":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled reta","content":"<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.</p>\n<p>A group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.</p>\n<p>Alibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.</p>\n<p>The bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.</p>\n<p>“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”</p>\n<p>Evergrande Link</p>\n<p>Suning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.</p>\n<p>The stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.</p>\n<p>In a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.</p>\n<p>“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.</p>\n<p>China is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.</p>\n<p>Acquisition Spree</p>\n<p>Suning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.</p>\n<p>After the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuning.com Gets $1.36 Billion State-Backed, Alibaba Bailout\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-06 17:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"002024":"ST易购","BABA":"阿里巴巴"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112363237","content_text":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.\nA group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.\nAlibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.\nThe bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.\n“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”\nEvergrande Link\nSuning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.\nThe stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.\nIn a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.\n“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.\nChina is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.\nAcquisition Spree\nSuning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.\nAfter the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":157337745,"gmtCreate":1625564804487,"gmtModify":1703743844475,"author":{"id":"3564105303063302","authorId":"3564105303063302","name":"ALi_BaBa","avatar":"https://static.tigerbbs.com/d89722c800111c9c885624fce940701f","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3564105303063302","authorIdStr":"3564105303063302"},"htmlText":"Sad","listText":"Sad","text":"Sad","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/157337745","repostId":1112363237,"repostType":4,"repost":{"id":"1112363237","kind":"news","pubTimestamp":1625563089,"share":"https://ttm.financial/m/news/1112363237?lang=&edition=fundamental","pubTime":"2021-07-06 17:18","market":"us","language":"en","title":"Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout","url":"https://stock-news.laohu8.com/highlight/detail?id=1112363237","media":"Bloomberg","summary":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled reta","content":"<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.</p>\n<p>A group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.</p>\n<p>Alibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.</p>\n<p>The bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.</p>\n<p>“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”</p>\n<p>Evergrande Link</p>\n<p>Suning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.</p>\n<p>The stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.</p>\n<p>In a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.</p>\n<p>“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.</p>\n<p>China is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.</p>\n<p>Acquisition Spree</p>\n<p>Suning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.</p>\n<p>After the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuning.com Gets $1.36 Billion State-Backed, Alibaba Bailout\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-06 17:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"002024":"ST易购","BABA":"阿里巴巴"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112363237","content_text":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.\nA group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.\nAlibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.\nThe bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.\n“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”\nEvergrande Link\nSuning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.\nThe stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.\nIn a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.\n“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.\nChina is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.\nAcquisition Spree\nSuning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.\nAfter the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":157338894,"gmtCreate":1625564436118,"gmtModify":1703743836945,"author":{"id":"3574921493150763","authorId":"3574921493150763","name":"markmtay","avatar":"https://static.tigerbbs.com/2f2384a278d49b0e9edc5a5fc1f39ebe","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3574921493150763","authorIdStr":"3574921493150763"},"htmlText":"Sigh. Was this a way for Baba to make amends?&nbsp;","listText":"Sigh. Was this a way for Baba to make amends?&nbsp;","text":"Sigh. Was this a way for Baba to make amends?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/157338894","repostId":1112363237,"repostType":4,"repost":{"id":"1112363237","kind":"news","pubTimestamp":1625563089,"share":"https://ttm.financial/m/news/1112363237?lang=&edition=fundamental","pubTime":"2021-07-06 17:18","market":"us","language":"en","title":"Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout","url":"https://stock-news.laohu8.com/highlight/detail?id=1112363237","media":"Bloomberg","summary":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled reta","content":"<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.</p>\n<p>A group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.</p>\n<p>Alibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.</p>\n<p>The bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.</p>\n<p>“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”</p>\n<p>Evergrande Link</p>\n<p>Suning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.</p>\n<p>The stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.</p>\n<p>In a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.</p>\n<p>“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.</p>\n<p>China is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.</p>\n<p>Acquisition Spree</p>\n<p>Suning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.</p>\n<p>After the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuning.com Gets $1.36 Billion State-Backed, Alibaba Bailout\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-06 17:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"002024":"ST易购","BABA":"阿里巴巴"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112363237","content_text":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.\nA group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.\nAlibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.\nThe bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.\n“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”\nEvergrande Link\nSuning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.\nThe stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.\nIn a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.\n“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.\nChina is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.\nAcquisition Spree\nSuning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.\nAfter the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5136568,"gmtCreate":1625564815197,"gmtModify":1663230590636,"authorId":3564105303063302,"author":{"id":3564105303063302,"idStr":"3564105303063302","authorId":3564105303063302,"name":"ALi_BaBa","avatar":"https://static.tigerbbs.com/d89722c800111c9c885624fce940701f","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-3","templateUuid":"1026c425416b44e0aac28c11a0848493","name":" Tiger Idol","description":"Join the tiger community for 1500 days","bigImgUrl":"https://static.tigerbbs.com/8b40ae7da5bf081a1c84df14bf9e6367","smallImgUrl":"https://static.tigerbbs.com/f160eceddd7c284a8e1136557615cfad","grayImgUrl":"https://static.tigerbbs.com/11792805c468334a9b31c39f95a41c6a","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.11.04","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":7,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":157338894,"type":1,"supId":0,"prevId":0,"content":"Like","text":"Like","html":"Like"},{"id":5136629,"gmtCreate":1625565291346,"gmtModify":1631888835591,"authorId":3560739763641510,"author":{"id":3560739763641510,"idStr":"3560739763641510","authorId":3560739763641510,"name":"Michaelw","avatar":"https://static.tigerbbs.com/9a0b95787039f20fdac242dcaee48b11","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":157338894,"type":1,"supId":0,"prevId":0,"content":"My take, Yes and no.  Why no?  Suning Is a strategic investment to increase retail reach","text":"My take, Yes and no.  Why no?  Suning Is a strategic investment to increase retail reach","html":"My take, Yes and no.  Why no?  Suning Is a strategic investment to increase retail reach"}],"langContent":"EN"},{"id":157333988,"gmtCreate":1625564329744,"gmtModify":1703743832529,"author":{"id":"3555414544558416","authorId":"3555414544558416","name":"车厘子tomato","avatar":"https://static.tigerbbs.com/a6dbabc7e37fc0d611c52a5194f61d58","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3555414544558416","authorIdStr":"3555414544558416"},"htmlText":"help me like n comment for green day!!!","listText":"help me like n comment for green day!!!","text":"help me like n comment for green day!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/157333988","repostId":1112363237,"repostType":4,"repost":{"id":"1112363237","kind":"news","pubTimestamp":1625563089,"share":"https://ttm.financial/m/news/1112363237?lang=&edition=fundamental","pubTime":"2021-07-06 17:18","market":"us","language":"en","title":"Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout","url":"https://stock-news.laohu8.com/highlight/detail?id=1112363237","media":"Bloomberg","summary":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled reta","content":"<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.</p>\n<p>A group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.</p>\n<p>Alibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.</p>\n<p>The bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.</p>\n<p>“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”</p>\n<p>Evergrande Link</p>\n<p>Suning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.</p>\n<p>The stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.</p>\n<p>In a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.</p>\n<p>“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.</p>\n<p>China is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.</p>\n<p>Acquisition Spree</p>\n<p>Suning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.</p>\n<p>After the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuning.com Gets $1.36 Billion State-Backed, Alibaba Bailout\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-06 17:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"002024":"ST易购","BABA":"阿里巴巴"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112363237","content_text":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.\nA group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.\nAlibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.\nThe bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.\n“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”\nEvergrande Link\nSuning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.\nThe stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.\nIn a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.\n“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.\nChina is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.\nAcquisition Spree\nSuning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.\nAfter the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5138158,"gmtCreate":1625575544634,"gmtModify":1663230599733,"authorId":3581666175913688,"author":{"id":3581666175913688,"idStr":"3581666175913688","authorId":3581666175913688,"name":"happyfarmer","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":157333988,"type":1,"supId":0,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"}],"langContent":"EN"},{"id":157339400,"gmtCreate":1625564318500,"gmtModify":1703743832041,"author":{"id":"3554810592564848","authorId":"3554810592564848","name":"TimT","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3554810592564848","authorIdStr":"3554810592564848"},"htmlText":"Like and comment pls&nbsp;","listText":"Like and comment pls&nbsp;","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/157339400","repostId":1112363237,"repostType":4,"repost":{"id":"1112363237","kind":"news","pubTimestamp":1625563089,"share":"https://ttm.financial/m/news/1112363237?lang=&edition=fundamental","pubTime":"2021-07-06 17:18","market":"us","language":"en","title":"Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout","url":"https://stock-news.laohu8.com/highlight/detail?id=1112363237","media":"Bloomberg","summary":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled reta","content":"<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.</p>\n<p>A group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.</p>\n<p>Alibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.</p>\n<p>The bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.</p>\n<p>“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”</p>\n<p>Evergrande Link</p>\n<p>Suning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.</p>\n<p>The stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.</p>\n<p>In a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.</p>\n<p>“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.</p>\n<p>China is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.</p>\n<p>Acquisition Spree</p>\n<p>Suning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.</p>\n<p>After the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuning.com Gets $1.36 Billion State-Backed, Alibaba Bailout\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-06 17:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"002024":"ST易购","BABA":"阿里巴巴"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112363237","content_text":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.\nA group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.\nAlibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.\nThe bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.\n“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”\nEvergrande Link\nSuning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.\nThe stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.\nIn a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.\n“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.\nChina is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.\nAcquisition Spree\nSuning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.\nAfter the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5136503,"gmtCreate":1625564347197,"gmtModify":1663230594143,"authorId":3554810592564848,"author":{"id":3554810592564848,"idStr":"3554810592564848","authorId":3554810592564848,"name":"TimT","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":157339400,"type":1,"supId":0,"prevId":0,"content":"?","text":"?","html":"?"},{"id":5136518,"gmtCreate":1625564398095,"gmtModify":1663230590347,"authorId":3554810592564848,"author":{"id":3554810592564848,"idStr":"3554810592564848","authorId":3554810592564848,"name":"TimT","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":157339400,"type":1,"supId":0,"prevId":0,"content":"?","text":"?","html":"?"},{"id":5136500,"gmtCreate":1625564337956,"gmtModify":1663230590344,"authorId":3555414544558416,"author":{"id":3555414544558416,"idStr":"3555414544558416","authorId":3555414544558416,"name":"车厘子tomato","avatar":"https://static.tigerbbs.com/a6dbabc7e37fc0d611c52a5194f61d58","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-2","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Master Trader","description":"Total number of securities or futures transactions reached 100","bigImgUrl":"https://static.tigerbbs.com/ad22cfbe2d05aa393b18e9226e4b0307","smallImgUrl":"https://static.tigerbbs.com/36702e6ff3ffe46acafee66cc85273ca","grayImgUrl":"https://static.tigerbbs.com/d52eb88fa385cf5abe2616ed63781765","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"80.46%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":157339400,"type":1,"supId":0,"prevId":0,"content":"like n comment for me","text":"like n comment for me","html":"like n comment for me"}],"langContent":"EN"},{"id":157339511,"gmtCreate":1625564303333,"gmtModify":1703743832204,"author":{"id":"3581845985051272","authorId":"3581845985051272","name":"psion","avatar":"https://static.tigerbbs.com/ab2eccc9177a2c142fab5a37345bc343","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3581845985051272","authorIdStr":"3581845985051272"},"htmlText":"Comment and like pl","listText":"Comment and like pl","text":"Comment and like pl","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/157339511","repostId":1112363237,"repostType":4,"repost":{"id":"1112363237","kind":"news","pubTimestamp":1625563089,"share":"https://ttm.financial/m/news/1112363237?lang=&edition=fundamental","pubTime":"2021-07-06 17:18","market":"us","language":"en","title":"Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout","url":"https://stock-news.laohu8.com/highlight/detail?id=1112363237","media":"Bloomberg","summary":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled reta","content":"<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.</p>\n<p>A group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.</p>\n<p>Alibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.</p>\n<p>The bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.</p>\n<p>“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”</p>\n<p>Evergrande Link</p>\n<p>Suning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.</p>\n<p>The stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.</p>\n<p>In a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.</p>\n<p>“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.</p>\n<p>China is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.</p>\n<p>Acquisition Spree</p>\n<p>Suning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.</p>\n<p>After the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuning.com Gets $1.36 Billion State-Backed, Alibaba Bailout\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-06 17:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"002024":"ST易购","BABA":"阿里巴巴"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112363237","content_text":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.\nA group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.\nAlibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.\nThe bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.\n“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”\nEvergrande Link\nSuning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.\nThe stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.\nIn a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.\n“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.\nChina is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.\nAcquisition Spree\nSuning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.\nAfter the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5136499,"gmtCreate":1625564337383,"gmtModify":1663230591437,"authorId":3554810592564848,"author":{"id":3554810592564848,"idStr":"3554810592564848","authorId":3554810592564848,"name":"TimT","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":157339511,"type":1,"supId":0,"prevId":0,"content":"?","text":"?","html":"?"},{"id":5136504,"gmtCreate":1625564347478,"gmtModify":1663230590729,"authorId":3555414544558416,"author":{"id":3555414544558416,"idStr":"3555414544558416","authorId":3555414544558416,"name":"车厘子tomato","avatar":"https://static.tigerbbs.com/a6dbabc7e37fc0d611c52a5194f61d58","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-2","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Master Trader","description":"Total number of securities or futures transactions reached 100","bigImgUrl":"https://static.tigerbbs.com/ad22cfbe2d05aa393b18e9226e4b0307","smallImgUrl":"https://static.tigerbbs.com/36702e6ff3ffe46acafee66cc85273ca","grayImgUrl":"https://static.tigerbbs.com/d52eb88fa385cf5abe2616ed63781765","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"80.46%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":157339511,"type":1,"supId":0,"prevId":0,"content":"like n comment","text":"like n comment","html":"like n comment"}],"langContent":"EN"},{"id":157339981,"gmtCreate":1625564227543,"gmtModify":1703743830716,"author":{"id":"3583869800933508","authorId":"3583869800933508","name":"FUNKOPOP","avatar":"https://static.tigerbbs.com/b282021e8dd2e0d964e13160d3be3328","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3583869800933508","authorIdStr":"3583869800933508"},"htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/157339981","repostId":1112363237,"repostType":4,"repost":{"id":"1112363237","kind":"news","pubTimestamp":1625563089,"share":"https://ttm.financial/m/news/1112363237?lang=&edition=fundamental","pubTime":"2021-07-06 17:18","market":"us","language":"en","title":"Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout","url":"https://stock-news.laohu8.com/highlight/detail?id=1112363237","media":"Bloomberg","summary":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled reta","content":"<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.</p>\n<p>A group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.</p>\n<p>Alibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.</p>\n<p>The bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.</p>\n<p>“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”</p>\n<p>Evergrande Link</p>\n<p>Suning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.</p>\n<p>The stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.</p>\n<p>In a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.</p>\n<p>“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.</p>\n<p>China is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.</p>\n<p>Acquisition Spree</p>\n<p>Suning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.</p>\n<p>After the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuning.com Gets $1.36 Billion State-Backed, Alibaba Bailout\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-06 17:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"002024":"ST易购","BABA":"阿里巴巴"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112363237","content_text":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.\nA group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.\nAlibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.\nThe bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.\n“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”\nEvergrande Link\nSuning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.\nThe stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.\nIn a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.\n“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.\nChina is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.\nAcquisition Spree\nSuning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.\nAfter the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":157396212,"gmtCreate":1625563765736,"gmtModify":1703743822962,"author":{"id":"3582024757605194","authorId":"3582024757605194","name":"Rtanhx","avatar":"https://static.tigerbbs.com/b5f2be776167cfe48a9507b24067ece5","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3582024757605194","authorIdStr":"3582024757605194"},"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/157396212","repostId":1112363237,"repostType":4,"repost":{"id":"1112363237","kind":"news","pubTimestamp":1625563089,"share":"https://ttm.financial/m/news/1112363237?lang=&edition=fundamental","pubTime":"2021-07-06 17:18","market":"us","language":"en","title":"Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout","url":"https://stock-news.laohu8.com/highlight/detail?id=1112363237","media":"Bloomberg","summary":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled reta","content":"<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.</p>\n<p>A group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.</p>\n<p>Alibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.</p>\n<p>The bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.</p>\n<p>“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”</p>\n<p>Evergrande Link</p>\n<p>Suning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.</p>\n<p>The stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.</p>\n<p>In a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.</p>\n<p>“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.</p>\n<p>China is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.</p>\n<p>Acquisition Spree</p>\n<p>Suning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.</p>\n<p>After the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuning.com Gets $1.36 Billion State-Backed, Alibaba Bailout\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-06 17:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"002024":"ST易购","BABA":"阿里巴巴"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112363237","content_text":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.\nA group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.\nAlibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.\nThe bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.\n“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”\nEvergrande Link\nSuning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.\nThe stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.\nIn a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.\n“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.\nChina is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.\nAcquisition Spree\nSuning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.\nAfter the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5136510,"gmtCreate":1625564356361,"gmtModify":1663230592349,"authorId":3555414544558416,"author":{"id":3555414544558416,"idStr":"3555414544558416","authorId":3555414544558416,"name":"车厘子tomato","avatar":"https://static.tigerbbs.com/a6dbabc7e37fc0d611c52a5194f61d58","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-2","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Master Trader","description":"Total number of securities or futures transactions reached 100","bigImgUrl":"https://static.tigerbbs.com/ad22cfbe2d05aa393b18e9226e4b0307","smallImgUrl":"https://static.tigerbbs.com/36702e6ff3ffe46acafee66cc85273ca","grayImgUrl":"https://static.tigerbbs.com/d52eb88fa385cf5abe2616ed63781765","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"80.46%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":157396212,"type":1,"supId":0,"prevId":0,"content":"like n commentl","text":"like n commentl","html":"like n commentl"}],"langContent":"EN"},{"id":157398264,"gmtCreate":1625563710958,"gmtModify":1703743821652,"author":{"id":"3579253238684353","authorId":"3579253238684353","name":"computers80","avatar":"https://static.tigerbbs.com/e43a3c84885b9d5e8a51ea009efa7cf0","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3579253238684353","authorIdStr":"3579253238684353"},"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/157398264","repostId":1112363237,"repostType":4,"repost":{"id":"1112363237","kind":"news","pubTimestamp":1625563089,"share":"https://ttm.financial/m/news/1112363237?lang=&edition=fundamental","pubTime":"2021-07-06 17:18","market":"us","language":"en","title":"Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout","url":"https://stock-news.laohu8.com/highlight/detail?id=1112363237","media":"Bloomberg","summary":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled reta","content":"<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.</p>\n<p>A group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.</p>\n<p>Alibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.</p>\n<p>The bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.</p>\n<p>“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”</p>\n<p>Evergrande Link</p>\n<p>Suning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.</p>\n<p>The stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.</p>\n<p>In a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.</p>\n<p>“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.</p>\n<p>China is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.</p>\n<p>Acquisition Spree</p>\n<p>Suning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.</p>\n<p>After the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuning.com Gets $1.36 Billion State-Backed, Alibaba Bailout\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-06 17:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"002024":"ST易购","BABA":"阿里巴巴"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112363237","content_text":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.\nA group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.\nAlibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.\nThe bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.\n“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”\nEvergrande Link\nSuning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.\nThe stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.\nIn a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.\n“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.\nChina is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.\nAcquisition Spree\nSuning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.\nAfter the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":157390893,"gmtCreate":1625563404812,"gmtModify":1703743815596,"author":{"id":"3585252654864862","authorId":"3585252654864862","name":"SiewWeng","avatar":"https://static.tigerbbs.com/53df5a10f848dd9d79558c4f7a3fb9f8","vip":1,"crmLevel":3,"crmLevelSwitch":1,"idStr":"3585252654864862","authorIdStr":"3585252654864862"},"htmlText":"Interesting.&nbsp;","listText":"Interesting.&nbsp;","text":"Interesting.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/157390893","repostId":1112363237,"repostType":4,"repost":{"id":"1112363237","kind":"news","pubTimestamp":1625563089,"share":"https://ttm.financial/m/news/1112363237?lang=&edition=fundamental","pubTime":"2021-07-06 17:18","market":"us","language":"en","title":"Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout","url":"https://stock-news.laohu8.com/highlight/detail?id=1112363237","media":"Bloomberg","summary":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled reta","content":"<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.</p>\n<p>A group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.</p>\n<p>Alibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.</p>\n<p>The bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.</p>\n<p>“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”</p>\n<p>Evergrande Link</p>\n<p>Suning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.</p>\n<p>The stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.</p>\n<p>In a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.</p>\n<p>“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.</p>\n<p>China is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.</p>\n<p>Acquisition Spree</p>\n<p>Suning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.</p>\n<p>After the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Suning.com Gets $1.36 Billion State-Backed, Alibaba Bailout</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuning.com Gets $1.36 Billion State-Backed, Alibaba Bailout\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-06 17:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"002024":"ST易购","BABA":"阿里巴巴"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-05/china-state-fund-that-includes-alibaba-to-invest-in-suning-unit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112363237","content_text":"Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.\nA group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake inSuning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the stock was trading at before it was halted June 16. Thesharessurged 10% in Shenzhen trading Tuesday.\nAlibaba Group Holding Ltd.and leading Chinese appliance makersMidea Group Co.andHaier Group Co.are also partners in the fund, as are smartphone makerXiaomi Corp., and TCL Technology Group Corp. After the transaction, none of the major holders will have a controlling stake.\nThe bailout means Zhang will no longer control Suning.com, marking the end of a reign during which he led Suning into an array of businesses, including ownership of the Inter Milan soccer team. Bloomberg Newsreportedearlier that the Jiangsu government, Alibaba and theother companieswere considering their involvement in the bailout.\n“The diversified investor portfolio helps push Suning.com to further improve the corporate governance, operations and business transformation as a retail service provider,” thestatement said. “The fund will actively support Suning to grow healthily and stably.”\nEvergrande Link\nSuning.com had a market value of about 52 billion yuan ($8 billion) before the tradinghalt, but it’s been in trouble for some time. The retail business was weakened by a slowdown in spending during the coronavirus 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 mostindebtedproperty developer.\nThe stock tumbled last month after a Beijing courtfroze3 billion yuan worth of shares held by Zhang -- representing 5.8% of Suning.com -- and creditors agreed to extend a bond forSuning Appliance Group Co., which is owned by Zhang and fellow co-founder Bu Yang.\nIn a separate statement Monday, the listed retail arm of Suning, one of China’s biggest retailers of appliances, electronics and other consumer goods, said it posted a preliminaryfirst-half lossof 2.5 billion yuan to 3.2 billion yuan.\n“The company’s deteriorating financials may have led to a stake selloff without any premium,” said Bloomberg Intelligence analyst Kevin Kim. The participation of China’s major appliance manufacturers in the bailout will mean they “have more incentives to sell their products through the Suning’s online and offline platforms, which are much needed for the retailer to make a profit turnaround,” he said.\nChina is taking advantage of a strengthening economy and stable financial markets to clean up its corporate sector, discouraging the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.\nAcquisition Spree\nSuning was a prime example of that rapid diversification as it dove into an array of sectors from real estate and finance to sports, including the purchase of a controlling stake in Inter Milan for 270 million euros ($319 million) in 2016. The acquisition spree was characteristic of a group of Chinese conglomerates, among themHNA Group Co.,Dalian Wanda Group Co.and Anbang Insurance Group Co. which have now been forced to unwind investments to repay debt or accept government control.\nAfter the deal, Zhang, who used to be the biggest holder in Suning.com, will have his stake cut to 17.62%, while a related party, Suning Holdings Group, will own 2.73%. Prior to the bailout, Alibaba already had a 19.99% stake from a 2015 strategic alliance. Given its participation in the state-led sale, the e-commerce giant’s total holdings would now be more than that, though details were not disclosed.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5136406,"gmtCreate":1625563740966,"gmtModify":1663230591540,"authorId":3579253238684353,"author":{"id":3579253238684353,"idStr":"3579253238684353","authorId":3579253238684353,"name":"computers80","avatar":"https://static.tigerbbs.com/e43a3c84885b9d5e8a51ea009efa7cf0","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":157390893,"type":1,"supId":0,"prevId":0,"content":"ok","text":"ok","html":"ok"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":64,"commentSize":11,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}