Produced | Sohu Finance
Author | Zhang Ying
On the evening of June 15, Suning.com issued a supplementary announcement on the freezing of shares, disclosing the reasons for the judicial freezing of 540 million shares of the company held by Zhang Jindong.
According to the announcement, Suning Real Estate and Huaneng Trust have a continuing trust loan contract with a financing principal of no more than 3 billion yuan. Zhang Jindong and others provide guarantees for this trust loan. Recently, Huaneng Trust transferred the above-mentioned creditor’s rights to Yingming Yuansheng, and Yingming Yuansheng applied for compulsory execution. Suning Real Estate has filed an enforcement objection to the Beijing Second Intermediate People’s Court, and the court has accepted the enforcement objection.
On the morning of June 15th, Suning.com issued an announcement stating that Zhang Jindong’s 540 million shares were judicially frozen by the Second Intermediate People’s Court of Beijing, accounting for 5.80% of Suning’s total share capital and 27.68% of Zhang Jindong’s holdings.
The supplementary announcement disclosed that Suning Real Estate and Huaneng Trust have a continuing trust loan contract with a financing principal of no more than 3 billion yuan and repayment in installments. Suning Real Estate provides mortgage guarantees with its own property assets. Suning Appliance Group Co., Ltd., Mr. Zhang Jindong His spouse provided guarantee for the above-mentioned trust loan.
Huaneng Trust applied for an enforcement certificate to the notary office with the letter of commitment issued by Suning Real Estate on February 1, 2021 that it did not carry out the notarization that conferred enforcement effect and did not waive its litigation rights.
It is understood that Huaneng Trust has a registered capital of 6.195 billion yuan and a net asset of 18.5 billion yuan. The registered place is Guiyang City, Guizhou Province.
The supplementary announcement stated that Huaneng Trust recently transferred the above-mentioned creditor’s rights to Yingming Yuansheng, and Yingming Yuansheng applied to Beijing No. 2 Intermediate People’s Court for compulsory enforcement of notarized debt documents (Case No. (2021) Jing 02 No. 837 ), Beijing No. 2 Intermediate People’s Court ruled to freeze 540 million shares of the company held by Mr. Zhang Jindong.
Suning Real Estate believes that since the execution certificate on which the relevant notarized creditor’s rights document is enforced does not meet the requirements of the Supreme People’s Court on several issues concerning the enforcement of notarized creditor’s rights documents, it has filed an execution objection to the Beijing No. 2 Intermediate People’s Court, and Beijing No. 2 The Intermediate People’s Court accepted the aforementioned enforcement objection on June 11, 2021.
On June 9, Sohu Finance inquired from the China Enforcement Information Disclosure Network that Suning Appliance Group Co., Ltd. added a piece of information about the person subject to enforcement, case number (2021) Jing 02 Zhi No. 837, and the enforcement subject was over 3.082 billion yuan. The enforcement court was Beijing Second Intermediate People’s Court.
According to the China Enforcement Information Disclosure website, Zhang Jindong, Suning Real Estate Group Co., Ltd., and Suning Appliance Co., Ltd. are all persons subject to enforcement, and the time for filing the case is June 4. Suning Real Estate and Suning Appliance are actually controlled by Zhang Jindong, the founder of Suning.
According to an enterprise search, Yingming Yuansheng was established on November 12, 2015, with a registered capital of 100,000 yuan, 60% of which was funded by Guizhou Taijia Investment Management Co., Ltd., and 40% by Guizhou Chuangming Investment Management Co., Ltd..
It is worth noting that the registered addresses of Yingming Yuansheng, Guizhou Taijia and Guizhou Chuangming are all located in the administrative office building of the People’s Government of Guanshanhu District, Guiyang City, Guizhou Province. The Development and Reform Bureau of Guanshanhu District of Guiyang City indirectly holds Yingming Yuansheng 43.86% shares.
Since the beginning of this year, Suning.com has been “turbulent.”
On February 28, Zhang Jindong and his concerted actor Suning Holding Group and others planned to transfer 23% of Suning Tesco to Shenzhen International and Kunpeng Capital to introduce state-owned capital.
On the evening of June 2, Suning.com issued an announcement stating that Suning Appliance intends to transfer its 520 million unrestricted shares of Suning.com (accounting for 5.59% of the company’s total share capital) to the new retail fund. The total transfer price is 31.82. 100 million yuan.
It is understood that the New Retail Development Fund is jointly funded by Jiangsu Province, Nanjing State-owned Assets, Suning, and Social Capital, with a total scale of 20 billion yuan.
On the 15th, Suning.com closed at a lower limit at RMB 5.59 per share.