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Suning Gains as Struggling Chinese Retailer Appoints Ex-Sun Art Head as Chairman Wang Hai Suning Gains as Struggling Chinese Retailer Appoints Ex-Sun Art Head as Chairman
(Yicai Global) July 30 Shares in Suning.com jumped as much as 6 percent today after the ailing Chinese retailing giant announced that it had appointed the former chairman of hypermarket operator Sun Art Retail Group, and the force behind the success of the RT Mart chain, as its new chairman.
Suning.com’s share price [SHE:002024] was trading up 1.38 percent at CNY5.89 (USD0.91) at 2 p.m. China time today. Earlier in the day it had reached CNY6.15. Yesterday the firm’s stock soared by the exchange-imposed limit of 10 percent.
ChinaTaiwanLiu-pengAnhuiSuningHebeiChineseKim-taylorWren-junZhang-jindongTang-shihuaPeter-huangSuning founder steps down after stake sale By WANG ZHUOQIONG | CHINA DAILY | Updated: 2021-07-14 09:52 Share CLOSE A man passes a Suning.com outlet in Shanghai in May. [Photo by Chen Yuyu/For China Daily]
Suning.com s billionaire founder Zhang Jindong has resigned as chairman during a leadership shuffle which put an end to his reign of the debt-ridden e-commerce retailing conglomerate, as its new and more diversified shareholder structure is expected to embark on a brighter future for the company.
Shares of Suning.com reacted on the Shenzhen bourse by jumping 1.3 percent to finish on Tuesday at 6.25 yuan (96 cents), having hit a session peak of 6.44 yuan.
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