According to the Tianyancha app, Suning.com has undergone a series of industrial and commercial changes. For instance, its legal representative has been changed from Zhang Jindong to Ren Jun.
Ren Jun was born in 1977 and graduated from Nanjing University. He is currently the director and president of Suning.com. Ren is also a director of Suning Sports Group Limited, Inter Milan Football Club and Shanghai Suning Financial Services Group Co., Ltd.
Suning.com has recently experienced a series of changes to its share structure and executive positions. In July, Suning.com transferred 16.96% of the company’s shares to the second phase of the Jiangsu Xinxin Retail Innovation Fund established by the Jiangsu provincial SASACs (State-owned Assets Supervision and Administration Commission) and the Nanjing municipal SASAC. After the share transfer was completed, the shareholding ratio of Zhang Jindong, former Chairman of Suning.com, decreased from 20.96% to 17.62%.
On July 12, Zhang Jindong resigned his title as Chairman of Suning.com. In the meantime, Ren Jun has performed the duties of Chairman temporarily before a new appointment was made. On July 29, Huang Mingduan became the firm’s new Chairman and one of the non-independent directors. Xian Handi, Cao Qun and Zhang Kangyang will also serve as its non-independent directors. Furthermore, Ren Jun was elected as the new CEO of the company.
According to a financial report by Suning.com, from January to June this year, the company achieved operating income of 93.606 billion yuan ($14 billion), down 20.96% year-on-year. The net losses in the first half of the year reached 3.45 billion yuan, compared with 167 million yuan in the same period last year. Suning.com noted in the report that it will work for the company to return to normal, achieving sustained and healthy development under the guidance of three strategic paths determined by the new board of directors. Specifically, the three paths refer to being a good retail service provider, to strengthen the firm’s supply chain and to improve the overall business quality.