Suning Tesco announced that the shareholders meeting agreed to authorize the company's management layer to sell a total of 131,647 million shares of Alibaba Group.of
As of the announcement date, the company's shares were sold for a total of 1,862.7 million US dollars, and it is estimated that net income will be approximately 5.205 billion yuan. After the sale of shares, Suning Tesco ceased ownership of Ali shares, accumulating a net profit of up to 14.1 billion yuan. At the same time, Ali has a loss of more than 9 billion dollars.
Suning accumulated net profit of 14.1 billion yuan
On November 14, 2017, Suning announced that it plans to reduce ownership of 5.5 million shares of Alibaba in the next three months. December 4 last year, the company announced that the general meeting of shareholders approved the plan, and only seven days later, Suning completed the reduction. After completing the above sale, Suning Yunshang will still own 20,824,700 shares of the Alibaba Group, representing 0.81% of the total issued shares of Ali.
Last year, Suning sold shares of Ali with net income of 3.25 billion yuan, which is a big indicator for Suning. According to the financial report Suning 2017, published in March of this year, the company's net profit for 2013, 2014, 2015 and 2016 amounted to 372 million yuan, 861 million yuan, 873 million yuan and 704 million yuan, respectively. That is, Suning sold Ali. The profit of the stock exceeds the total net profit for the four years of its work.
Suning Tesco announced on July 7 that it would set a semi-annual performance forecast for 2018. It is estimated that the net profit attributable to shareholders of listed companies will be 596,223,700 yuan – 606,223,700 yuan, an increase of 1945.39% -1979.70% compared with the same period last year.
The reasons for the correction results: shares of the Alibaba Group are sold for sale. The total size of the sold shares should not exceed 7.66 million Shares, which is only 0.30% of the shares of Alibaba Group, and specific agreements on the sale are implemented in accordance with the investment agreement. As of May 31, 2018, the company completed the sale of shares through the New York Stock Exchange, the company received a total of about 1.504 billion US dollars in the price of the sale of shares. The transaction is expected to achieve net income of approximately 5.601 billion yuan (calculated on the basis of the RMB exchange rate against the US dollar at the date of the sale of shares).
This time, Suning Tesco cleared its ownership of Ali shares and accumulated net income of up to 14.1 billion yuan.
Ali's own capital to buy Suning continues to lose money
According to public information, in August 2015, Suning and Alibaba carried out strategic cooperation: a subsidiary of Alibaba signed up for a private placement of Suning shares, and the share in the share capital amounted to 19.99% of the total number of shares after a closed subscription, while Suning passed through territory. A subsidiary company has strategically invested in recently issued Alibaba shares, owning 1.04%.
At that time, Ali became the second largest shareholder in Suning, owning shares second only to Zhang Jindong, for which Taobao spent 28.233 billion yuan.
The price of non-public offering of Suning Yunshang shares was 15.17 yuan / share, while Taobao subscribed for 1.861 billion shares. However, this investment has lost more than 6 billion yuan. December 31, 2018, the closing price of Suning Tesco was 9.85 yuan, and the loss of Ali – more than 9 billion.