Suning Yunshang reduced its holdings in Alibaba shares to cash out 3.25 billion yuan to increase company investment

　　On the news that Tencent and Alibaba have invested in retail listed companies, Suning Cloud Commerce is reducing its holdings in Alibaba shares.

　　On the evening of December 11, Suning Cloud Commerce issued an announcement stating that the company has completed the reduction plan of selling no more than 5.5 million shares of Alibaba shares, and received a total of approximately US$940 million in stocks, with a net profit of approximately US$3.25 billion. After the sale is completed, the company still holds 20.8247 million shares of Alibaba (0.81% shareholding ratio).

　　Suning Cloud Commerce said that the funds received will be used to support the company's investment in commercial format innovation, logistics capacity improvement, and scientific and technological research and development. The company will continue to deepen its strategic cooperation with Alibaba in the fields of joint procurement, Tmall flagship store operation, logistics services, etc.

　　On the news front, Yonghui Supermarket, a listed retail company, also issued an announcement on the evening of December 8. Recently, there was news that an investor had invested in the super species business operated by the company's subsidiary companies. Given that the company is negotiating investment matters with relevant investment entities, the specific plan has not yet been determined, which is of great uncertainty. The company's stock will continue to be suspended on December 11, 2017, and is expected to be announced and resumed on December 12, 2017.

　　Previously, Alibaba acquired a stake in Gao Xin. Tencent joined forces with Yonghui Supermarket. The two Internet giants are confronting head-on on the new retail position, but Suning Yunshang seems to be "unordinary".

　　Last night, Suning Cloud Commerce issued a progress announcement on the disposal of some available-for-sale financial assets, showing that the company's 6th Board of Directors reviewed and the fifth extraordinary general meeting of shareholders in 2017 passed the "Proposal on Authorizing the Company's Operators to Dispose Some Available-For-Salable Financial Assets", agreeing to authorize the company's operating team to sell the available-for-sale financial assets, namely Alibaba Group shares, at the right time. The total size of the sold shares is expected to not exceed 5.5 million shares, accounting for 20.89% of the company's shares held by Alibaba Group, accounting for only 0.22% of Alibaba Group shares, and implement specific sales arrangements in accordance with the investment agreement. The authorization is valid for 3 months from the date of review and approval by the shareholders' meeting.

　　As of the date of the above announcement, the company completed the stock sale through the New York Stock Exchange, and the company received a total of approximately US$940 million in the stock sale price. The transaction was initially calculated by the company's financial department. After deducting the initial share purchase capital, the cost and related direct expenses of the share issuance, it is expected to achieve a net profit of approximately RMB 3.25 billion (calculated based on the RMB-US dollar exchange rate on the day of the shares sold). The specific financial impact will ultimately be subject to the company's audited financial report.

　　Suning Yunshang said that the company's sale of Alibaba Group's shares this time can effectively enhance the company's market competitiveness and help improve the company's operating quality. "Alibaba is the company's most important strategic partner, holding 19.99% of the company's shares. The company will combine its own resources to continue to deepen strategic cooperation with Alibaba in the fields of joint procurement, Tmall flagship store operation, logistics services, O2O integration, etc., and continuously enhance the cooperation value and market competitiveness of the two parties." Suning Cloud Commerce said. (Source: NetEase News)

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