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Zhang Jindong (simplified Chinese: 张近东; traditional Chinese: 張近東; pinyin: Zhāng Jìndōng; born March 1963)[5] is a Chinese entrepreneur. He is one of the founders and the current largest shareholder of the Suning.com, headquartered in Nanjing, Jiangsu Province. He also owned 100% stake in Suning Holdings Group, 65% stake in Suning Real Estate[6] as well as 48.1% stake in Suning Appliance Group as the second largest shareholder.

Zhang Jindong
Born March 1963 (age 55)[1]
Tianchang, Anhui, China[citation needed]
Alma mater Nanjing Normal University
Occupation
  • entrepreneur
  • politician
Known for
Net worth
Increase US$7.3 billion(2018 Forbes list)[2][3]
Increase US$5.7 billion(2017 Forbes list)[2]
Board member of
Suning Holdings Group(managing director)
Suning.com(chairman)
Children
  • Steven Zhang (Zhang Kangyang)
  • 1 other child[2]
Member of the 10th National Committee of the CPPCC for All-China Youth Federation
In office
March 2003 – March 2008
Member of the 11th National Committee of the CPPCC for ACFIC
In office
March 2008 – March 2013
Member of the 12th National Committee of the CPPCC for ACFIC
In office
March 2013 – March 2018
Member of the 11th Jiangsu People's Congress for Nanjing[4]
In office
2008–2013
Personal details
Other political
affiliations
Zhang Jindong
Simplified Chinese 张近东
Traditional Chinese 張近東

He was also the managing director and general manager of Suning Holdings Group, chairman of Suning.com.

BiographyEdit

Zhang Jindong was born in Tianchang,[citation needed] Anhui Province in 1963. He graduated from the Nanjing Normal University and studied Chinese literature.

Zhang Jindong together with his older brother Zhang Guiping (Chinese: 张桂平) opened a shop on Ninghai Road (Chinese: 宁海路) corner Jiangsu Road in Nanjing, selling air conditioning and related products in 1990.[7] The brand Suning came from choosing one word each from Jiang-su and Ning-hai; the roads themselves were named after the city and province of the same name. Later Zhang Guiping exited the business and shifted into real estate, now known as Suning Universal. Zhang Jindong did however, also start his own real estate company Suning Real Estate some time later.

Zhang Jindong further developed his small shop into a giant business group - the Suning Group, in the space of only 15 years. He also founded and co-founded Suning Holdings Group and Suning Appliance Group respectively, as unlisted portions of his business empire, leaving Suning Commerce Group as the only listing company. In 2013's Hurun Report's China Rich List, Zhang was ranked No.9 with $6.4 billion.[8] Zhang Jindong was ranked 28th in 2015 Forbes's China Rich List.[2]

He was also elected to the National Committee of the Chinese People's Political Consultative Conference, a senior governmental body.[7] He was a member of the Provincial People's Congress (zh), but not a member of the National People's Congress.

On 6 June 2016 Zhang Jindong, via his own private holding company Suning Holdings Group, signed a contract to purchase the majority stake in Italian football club Inter Milan, by purchasing existing shares and through recapitalization.[9][10] The deal was approved by the extraordinary general meeting on 28 June 2016, which after the deal, Suning Holdings Group owned 68.55% shares.[11]

Personal lifeEdit

He is the father of Zhang Kangyang (Steven)[12] who is a member of the board of directors of Inter Milan; Zhang Jindong is not himself a member of the board.[13] Steven personally owns 10% stake in Suning Real Estate, one of the companies within his father's business empire.

ReferencesEdit

  1. ^ 苏宁电器连锁集团股份有限公司首次公开发行股票招股说明书 [Initial Public Offering Prospectus of Suning Appliance Chain Store (Group) Co., Ltd.] (in Chinese). Suning Appliance Chain Store (Group). 2 July 2004. Retrieved 16 July 2018 – via Sina finance. 
  2. ^ a b c d Russell Flannery. "Zhang Jindong". Forbes. 
  3. ^ "The World's Billionaires List 2018 Ranking". Forbes. March 2018. Retrieved 24 May 2018. 
  4. ^ 江苏省第十一届人民代表大会代表名单 [List of members of the 11th Jiangsu People's Congress]. 扬子晚报 (in Chinese). 20 January 2008. Retrieved 18 February 2017 – via Sina news portal. 
  5. ^ "公开发行 2017 年公司债券募集说明书" [prospectus of 2017 company bond] (PDF) (in Chinese). Suning Commerce Group. 19 June 2017. p. 1-1-54. Retrieved 11 July 2017. 
  6. ^ 关于苏宁云商集团股份有限公司部分商标转让及使用许可关联交易的保荐机构意见 [Comments on Suning Commerce Group selling some registered trademarks to related-parties] (PDF) (Press release) (in Chinese). China Merchants Securities, Suning Commerce Group. 31 March 2016. Retrieved 8 June 2016 – via Shenzhen Stock Exchange website. 
  7. ^ a b "Suning appliance king Zhang Jindong set to plug into foreign markets". Telegraph.co.uk. 25 August 2009. 
  8. ^ "胡润百富 - www.hurun.net". 
  9. ^ blog entry on 6 June 2016 weibo (in Chinese)
  10. ^ "Suning Holdings Group acquires majority stake of F.C. Internazionale Milano" (Press release). F.C. Internazionale Milano. 6 June 2017. Retrieved 11 July 2017. 
  11. ^ "Assemblea degli Azionisti di F.C. Internazionale Milano" [F.C. Internazionale Shareholders' Meeting] (Press release). F.C. Internazionale Milano. 28 June 2017. Retrieved 11 July 2017. 
  12. ^ http://www.nerazzurriale.com/2016/06/30/zhang-jindong-dan-suning-tinggalkan-milan-steven-zhang/
  13. ^ "Organization Chart". F.C. Internazionale Milano – Official website. Retrieved 10 September 2016.