Zhang Jindong

Biography

Zhang Jindong was born in Tianchang, Anhui Province in 1963. He graduated from Chinese department at Nanjing Normal University.

Zhang Jindong together with his older brother Zhang Guiping () opened a shop on Ninghai Road () corner Jiangsu Road in Nanjing, selling air conditioning and related products in 1990. 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 business group, the Suning Group, within 15 years. He also founded and co-founded Suning Holdings Group and Suning Appliance Group respectively, as unlisted portions of his collection of businesses, leaving Suning.com (was known as Suning Commerce Group and other names) as the only listing company. In 2013's Hurun Report's China Rich List, Zhang was ranked No.9 with $6.4 billion. Zhang Jindong was ranked 28th in 2015 Forbes's China Rich List.

He was also elected to the National Committee of the Chinese People's Political Consultative Conference, a senior governmental body. He was a member of the Provincial People's Congress, 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. The deal was approved by the extraordinary general meeting on 28 June 2016, which after the deal, Suning Holdings Group owned 68.55% shares.

In July 2021, Zhang Jindong stepped down as chairman of Suning.com, in which he holds the role of honorary chairman.

Forbes estimated his net worth to be around US$7.4 billion in 2021.

Personal life

His son Zhang Kangyang (Steven) owns a 10% stake in Suning Real Estate, one of his privately held companies. Suning Holdings Group acquired a majority stake of Inter Milan football club in 2016. After the acquisition, his son Steven became a member of Inter's board of directors and since 2018, its chairman. Jindong is not a member of the board himself.

References

References

1. link. (2 July 2004). Suning Appliance Chain Store (Group)
2. link. All-China Federation of Industry and Commerce
3. Russell Flannery. "Zhang Jindong". Forbes.
4. link. (20 January 2008). 扬子晚报
5. (19 June 2017). "公开发行 2017 年公司债券募集说明书". Suning Commerce Group.
6. (July 12, 2021). "Zhang Jindong, Founder of Suning.com, Becomes Honorary Chairman".
7. {{cite press release. link. (31 March 2016). China Merchants Securities, Suning Commerce Group
8. (25 August 2009). "Suning appliance king Zhang Jindong set to plug into foreign markets". Telegraph.co.uk.
9. link. 胡润
10. [http://weibo.com/5943795262/DyZncFMrk blog entry on 6 June 2016] weibo (in Chinese)
11. (6 June 2017). "Suning Holdings Group acquires majority stake of F.C. Internazionale Milano". F.C. Internazionale Milano.
12. (28 June 2017). "Assemblea degli Azionisti di F.C. Internazionale Milano". F.C. Internazionale Milano.
13. Suning Global Team. (12 July 2021). "Suning.com Announced the Board of Directors Will Be Reorganized".
14. "Forbes profile:Zhang Jindong". [[Forbes]].
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16. "Organization Chart".