Suning.com announces debt restructuring, new audits, and subsidiary guarantee

Suning.com Group Co., Ltd. announced a debt restructuring plan effective from the signing date of its "Claims and Debts Restructuring Agreement." This involves extinguishing intercompany debts, with Carrefour China Holdings owing 31,282.85 yuan (plus interest) to Shenyang Jiaan Youfu Commercial Co., Ltd., and 24,965.23 yuan (plus interest) to Changsha Keyoushi Supermarket Co., Ltd. The restructuring is projected to increase Suning.com’s total profit by approximately 5.6 bn yuan.

Concurrently, Suning.com will retain its auditing firms for 2025. It appointed BDO China Shu Lun Pan Certified Public Accountants LLP as the lead auditor for consolidated statements and internal control, and Pan-China Certified Public Accountants LLP as a co-auditor for some subsidiaries. The total audit fee for 2025 financial and internal control reports is set at 10.50m yuan, a reduction from 2024.

Additionally, the company approved a guarantee for its subsidiary, Guangdong Suning.com Sales Co., Ltd., for a maximum principal amount of 7.06 bn yuan. This guarantee supports the subsidiary's financing needs and represents 5.68% of Suning.com’s net assets attributable to shareholders as of 2024. The total outstanding guarantee for subsidiaries now stands at 19.68 bn yuan, or 15.83% of 2024 net assets.