Xin Lang Cai Jing·2025-08-27 11:47Core Viewpoint - The article discusses the financial struggles of Suning Group, which has been significantly impacted by its investment in Evergrande Group, leading to a debt crisis and loss of control for its chairman Zhang Jindong [2][3][4]. Group 1: Investment and Financial Impact - Over 20 well-known companies have faced bankruptcy restructuring, debt defaults, or operational difficulties due to Evergrande Group, with the total amount involved exceeding 100 billion yuan [2]. - In 2017, Suning Group invested 20 billion yuan in Evergrande, acquiring approximately 4.7% equity, which was seen as a strategic move to integrate real estate and retail [2]. - By July 2021, Suning was in a debt crisis exceeding 140 billion yuan, prompting Zhang Jindong to seek the return of the 20 billion yuan investment, which ultimately proved unsuccessful [3]. Group 2: Strategic Missteps and Consequences - Suning's diversification strategy from 2012 to 2020 involved investments totaling 78 billion yuan, but most projects failed to create synergies, leading to a lack of successful business segments [3]. - Zhang Jindong's decision to transfer 16.96% of Suning's shares for 8.83 billion yuan and step down as CEO resulted in a significant loss of control over the company [3]. - The article reflects on Zhang Jindong's initial optimism in partnering with Evergrande, contrasting it with the current struggles of Suning, suggesting that his expectations were overly ambitious [4].