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".
