Official – New box buys 16.96% from also Alibaba and Xiaomi inside

Important news arrives from China regarding the financial situation of, a major subsidiary of Suning

Important news arrives from China regarding the financial position of, an e-commerce platform and one of the main subsidiaries of Suning, the giant Chinese owner from inter. In fact, the company announced through its official channels that state-owned activities in Jiangsu and Nanjing provinces have led to the creation of a fund called New Retail Innovation Fund Phase II, with a total value of 8.83 billion yuan (more than one billion euros).

The fund in question will see participation, in addition to state activities, also from other investors from companies such as Alibaba, Haier, Midea, TCL and Xiaomi. The second phase of the new new retail fund will acquire a 16.96% stake in As a result, the Zhang family’s stake in the company will decrease to 17.62%. A move to deal with the difficult times Suning has been through and to ensure greater liquidity for Nanjing.

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