The Suning Group's 38 companies plan to restructure, and the rights of external shareholders, including former Jiangsu billionaire Zhang Jindong, will be completely transferred without compensation
The voting period for the substantive merger and restructuring plan of Suning Appliance Group and 37 other companies has been postponed again to December 14. The plan shows that Suning's companies are facing over 230 billion yuan in debt, with the liquidation value of assets shrinking by more than half compared to the book value, leaving only 41 billion yuan, which is already insolvent