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Boo hoo, we couldn't sell Skriniar and Eriksen ![lol :lol: :lol:](/img/smilies/lol.gif)
![lol :lol: :lol:](/img/smilies/lol.gif)
Wtf is wrong with them, can’t even pay salaries? This is in China so I don’t think you can blame Chinese governmentJiangsu FC(formerly Suning)for sale: as per sources in China,1 penny is enough for buyers to get Jiangsu FC, the CSL title holder from Suning Group, with the condition of taking the responsibility of debt, estimated to be ¥500m(€63.77m), most of which is unpaid salary.
Wtf is wrong with them, can’t even pay salaries? This is in China so I don’t think you can blame Chinese government
man you are just being dishonest right now. Yonghong Li had 14% interest rate, it basically was known the guy will fold. Lets see what rate we finance our debt at. IIRC last one was 4-5%. Also Suning is not Yonghong Li, albeit the situation seems to be a bit beyond finance in China with apparent crackdown on "shanghai" clique.
More "good" news from China:
The trading of Suning.com (SZSE: 002024), a listed company in Shenzhen Stock Exchange, is suspended, due to 'talks of change of control'. The top 3 shareholders of http://Suning.com is Zhang Jindong(20.96%), Suning Appliance Group(19.99%)and Taobao (19.99%). Suning.com (002024) issued an announcement about the trading suspension in Shenzhen Stock Exchange. Zhang Jindong (20.96%) & Suning Appliance Group(19.99%) plan to transfer 20-25% of total shares. The main area of potential buyers (reportedly state-owned) is infrastructure.
So it's not just inter, Suning are broke? Or zhang is being forced by the state to sell Suning and probably has had assets freezer?
Right, just accept BC partners offer to fuck please. I don't even care at this point but we need out of Sunings hands immediately. I don't want them to take out another 250m loan to pay out bills and just increase our debt.
https://www.bloomberg.com/news/articles/2021-02-25/suning-com-says-shareholders-to-sell-20-25-stake-in-retailerChinese Conglomerate Suning.com Says Shareholders Will Sell Stake in Retailer
Suning.com Co. said shareholders plan to sell a 20% to 25% stake in the retailer to unidentified buyers, in the latest sign that parent Suning Appliance Group Co. is working through liquidity issues.
The unit of the Chinese retail and e-commerce conglomerate didn’t give a price, but a 25% stake would be valued at as much as 16 billion yuan ($2.5 billion), based on Suning.com’s latest stock price. Suning.com said the shares would be sold to buyers in sectors including infrastructure, according to a statement to the Shenzhen stock exchange.
REDD reported earlier that Suning Appliance was in talks to sell all or part of its stake to a conglomerate of state-owned companies, and Suning.com shares were halted Thursday pending news. Suning.com’s yuan bond due 2023 rose 2%, the biggest gain in one month, as of 12:15 p.m. local time, after gaining as much as 5.7% in the morning.
Suning Appliance holds a 19.88% stake in Suning.com, while the biggest shareholder is billionaire founder Zhang Jindong, with a 20.96% stake. Alibaba Group Holding Ltd. has a 19.99% share, after the two companies formed a strategic alliance announced in 2015.
Concerns about Suning Appliance’s financial health have been raised since last year, when online chatter of a cash crunch pressured bonds issued by the key listed unit. Suning Appliance dispelled the talk as a “rumor” at that time.
Suning Appliance Offers Bond Swap in Sign of Liquidity Pressure
Both Suning.com and its parent face high near-term repayment pressure, according to China Chengxin International Rating Co. A combined 15.8 billion yuan of bonds will be payable this year for the two firms when they are confronting refinancing difficulties, the rating firm said in a report earlier this month.
In a recent sign of liquidity strain, Suning Appliance conducted a swap offer for a yuan bond due Feb. 2. A majority of the holders agreed to exchange the 7.3% note for a new two-year bond carrying the same coupon.
In January, Suning Appliance said it pledged 376.5 million shares, or a 4.04% stake, in Suning.com to China Minsheng Banking Corp. to raise funds.
Suning Appliance’s debt risk has now come under focus after it helped China Evergrande Group avoid a cash crunch by deciding not to demand repayment of a 20 billion yuan strategic investment in the indebted developer. Suning is an Evergrande supplier, so a collapse could have had ripple effects on its business as well.
Nanjing-based Suning.com is one of the largest retailers of appliances, electronics and other consumer goods in China. The company closed about 1,000 self-owned shops in the first nine months of last year, bringing the total to 2,697, including the China operations of French supermarket Carrefour SA which it acquired a majority stake in last year. It also has 6,588 franchised stores, according to its third-quarter financial report.
The company reported a 93% drop in net income for the third quarter, after a net loss in the first six months amid weak demand and temporary store closures during the pandemic.
What I’m hoping for is that they’ve already agreed a deal to sell us but are waiting till after the season finishes to hopefully celebrate the scudetto as their final act. Would be deserved even though I think people vastly overrate their spending, it really wasn’t much but they most definitely helped take the club forward after that vulture Thohir set us back.
Having said that that’s what I’m hoping for, if they still haven’t an agreement or aren’t willing to sell them I’m afraid we are fucked the longer this goes on. If enters the summer chaos will erupt
If that is true (that Suning have put in 600m), then we have a problem. Coz Inter's debts are to the tune of 400m, which is one of the highest debt ratios in the world of football. If you can share the source/breakup Sunings 600m investment at Inter, we can check whether the debt is a part of it. It must be coz Suning have largely used debt to finance Inter. If not, practically it means that at 1 billion valuation, Suning make zero profit... which is crazy.
Realistically though, I don't see anyone paying more than 800m for Inter. That is without the debt. So if the new investor takes over the debt, Suning are unlikely to get more than 400m for 100% of Inter. That is probably what is making this such a difficult deal to close in this climate.
It's not just press, it would have to be public knowledge at this point due to the involvement of shareholders, banks, chairs, etc. Sorry to break your guys' hearts on this one but they could literally not keep a sale private knowledge.That's what I'm hoping for too. Like there's already some sort of deal in place and Sunning want to see out the end of the season for ceremonial purposes. Although it seems unlikely that no one in the press will have gotten wind of that.