Suning Commerce Group Co Ltd (002024.SZ)
22 Feb 2017
SHANGHAI, Feb 20 Chinese tech giant Alibaba Group Holdings Ltd has formed a strategic partnership with supermarket operator Bailian Group, extending its push into bricks-and-mortar retail as online growth slows.
* Says it expects 2016 net profit to fall 15.1-20.9 percent y/y to 690.4-740.4 million yuan ($99.75-106.98 million)
* Says unit plans to sell appliances subsidiary for 1.3 billion yuan ($191.26 million) to affiliate
* Sees net loss for 2016 to be 253.6 million yuan to 303.6 million yuan
Further company coverage: ($1 = 6.7793 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)
HONG KONG China Minsheng Investment Group (CMIG), the country's biggest private investment group, is targeting a valuation of 1 trillion yuan ($147.81 billion) by 2019, the South China Morning Post quoted its president as saying.
HONG KONG, Oct 22 China Minsheng Investment Group (CMIG), the country's biggest private investment group, is targeting a valuation of 1 trillion yuan ($147.81 billion) by 2019, the South China Morning Post quoted its president as saying.
* Says Nanjing unit, Alibaba China plan to invest 1.0 billion yuan ($148.45 million) to set up e-commerce firm in Chongqing
* Says it plans to boost Suning Consumer Finance's capital by 147 million yuan ($22.04 million)
* Says it swings to net loss of 121.2 million yuan ($18.16 million) in H1