Suning.com settles €220m Carrefour dispute, gains 1.11bn yuan

Suning.com's board approved a debt settlement with Carrefour Group, resolving the remaining 1 billion yuan Carrefour China acquisition payment and intellectual property disputes for €220 million.

The settlement is expected to yield 1.11 billion yuan in debt restructuring income. However, subsidiary Hefei Yuejia's bankruptcy will impact net profit by approximately 310 million yuan.