On the evening of July 5, SUNING announced that Zhang Jindong and its co-actors, SUNING holding Group and shareholder SUNING Electric Appliance Group, intend to transfer 16.96% of the shares of the listed company to Jiangsu Xinxin Retail Innovation Fund Phase II (limited partnership) (hereinafter referred to as "Xinxin Retail Fund Phase II"). SUNING said that this share transfer meets the needs of the company's strategic development and will have a positive impact on the company's future development.
According to the announcement, the second phase of Xinxin Retail Fund will be jointly participated by the state-owned assets of Jiangsu Province and Nanjing, follow the principles of marketization and legalization, fulfill its territorial responsibilities, and actively support the steady and healthy development of SUNING.
The announcement shows that the second phase of the new shareholder Xinxin Retail Fund introduced in this share transfer has a diversified structure and complementary advantages, and all parties will actively promote SUNING to further improve the governance structure and enhance the scientific decision-making ability of listed companies. comprehensively improve the level of operation and management, establish a more scientific incentive system, help promote the landing of the transformation of "retail service providers", and improve the assets and business operation efficiency of listed companies. Promote the implementation of the company's long-term strategy.
This share transfer will help SUNING to further integrate high-quality assets and business, and achieve complementary resources and win-win cooperation with state-owned capital and industrial capital. Among them, the participation of state-owned assets will lay a solid foundation for the stable and healthy development of SUNING. Alibaba, Haier, Midea, TCL, Xiaomi and other industrial investors will play a close synergistic effect with SUNING, and continue to deepen cooperation in the fields of users, technology, services, supply chain, warehousing and logistics.
In May this year, SUNING announced the establishment of Jiangsu Xinxin Retail Innovation Fund with Jiangsu State assets and other parties, which aims to further give full play to SUNING's exemplary role as a leading enterprise in modern trade circulation by investing in SUNING's high-quality assets and high-quality business. to achieve complementary state-owned and private resources, win-win cooperation, and promote the sustained and rapid development of modern trade circulation system.
Market analysts believe that in the new development pattern in which the domestic big cycle is the main body and the domestic and international double cycles promote each other, the new strategic investment enters the bureau, which is a positive recognition of the resource capacity and value accumulated by SUNING who has taken root in developing physical retail business over the past 30 years. After the introduction of this war, SUNING's future development will be further clarified, increasing trust and efficiency for listed companies in the short term, and restoring liquidity. In the long run, SUNING's profitability will continue to improve.
As a leading smart retail service provider in China, SUNING has unique advantages in smart retail, scene interconnection strategy, all-category expansion, all-channel online, all-customer integration and so on. SUNING's introduction of state-led fund investment is not only the further landing of the new retail development fund, but also the beginning of SUNING's upcoming development, which will help the company to further focus on retail business, consolidate the core competence building of smart retail, improve the operational efficiency and profitability of the company's assets and business, and promote the implementation and landing of the company's long-term strategy.