Zhang Jindong is preparing to transfer his shares in Suning.com, which has attracted huge attention. The real seller has not been determined yet. It is expected that 20% to 25% of the shares will be transferred this time. After the transfer, Zhang Jindong's control may be threatened.

Because the largest shareholder may be the newly invested consortium. However, because it is a consortium composed of multiple companies, it may not affect Zhang Jindong's control. These will not be known until the transaction is completed. But many people have raised a question, that is, why doesn’t Alibaba take over Suning.com?

Currently Alibaba’s Taobao holds 19.99% of Suning.com’s shares, making it the second largest shareholder after Zhang Jindong. At the same time, Zhang Jindong has a close personal relationship with Jack Ma, the founder of Alibaba. The two even went to Russia to watch the World Cup together in 2018.

There is news that Zhang Jindong has found many big bosses, but many people are shunned by Suning.com. In the end, Jiangsu State-owned Assets took action. Obviously, Jiangsu did not want anything to happen to Suning. After all, Suning is the most representative company in Jiangsu. Jiangsu has been hit by the Sanpower Group in recent years. If Suning has another problem, the impact will indeed be considerable.

In 2014, Ali invested 21.4 billion in Suning.com and obtained 19.99% of Suning.com. At that time, Ali had high hopes for Suning.com, hoping that Suning.com could successfully intercept JD.com. At that time, the gap between Suning.com and JD.com was not big, and JD.com had just gone public.

But now six years have passed, Suning.com’s market value continues to decline, and its liabilities continue to rise. On the contrary, JD.com’s market value has reached as high as 160 billion US dollars, and it has spun off JD Logistics, JD Health, JD Digits, etc. Several giant companies.

In fact, it is very normal for Alibaba not to take over Suning.com. The first one is that Jack Ma has retired, and Alibaba’s chairman is Zhang Yong. It was Jack Ma's decision to invest in Suning.com, but today Zhang Yong's strategy is not necessarily the same as Jack Ma's.

In addition, even if Jack Ma himself is still in power, whether he will acquire Suning.com is also a question. Because Suning.com has lost its strategic value back then, it is obvious that Suning.com is no longer able to intercept JD.com. Taking over Suning.com now will not only not become Ali’s weapon, but will become Ali’s burden.

In addition, Alibaba itself also has some problems now. Ant's listing was suspended, which has also affected Alibaba. Although the business has not been affected, the impact on public relations is still very large. Now it may be even more important for Ali to keep a low profile.

From these points, it is really unlikely that Alibaba will take over Suning.com. Another point is that if Alibaba wants to take over Suning.com, it will definitely need control. Whether Zhang Jindong is willing to transfer control is still unknown. Suning Appliance's financial report shows that the company's total assets are more than 420 billion, and its liabilities are 300 billion, which means that its net assets are still 120 billion. However, asset valuation is one thing. When you actually sell it, you may not be able to sell it for so much money.

Suning.com was developed by Zhang Jindong brothers. It took Zhang Jindong brothers more than 30 years of time and energy. It is definitely impossible to say that there is no emotion, so Zhang Jindong must hope that it can He led Suning.com to make a comeback.

In fact, there are many examples of comebacks in the business world, and Shi Yuzhu once made a comeback. Even Jia Yueting has received so much support recently and has the momentum to make a comeback, so it is not impossible for Suning.com to return to the top.

A resigned employee’s evaluation of Suning.com was very accurate: “This will happen sooner or later, because Suning has been suppressed by competitors in recent years and has developed a lot of unprofitable businesses. It’s normal for the capital chain to have problems.”

So what should Zhang Jindong do if he wants to make a comeback? In fact, there is only one way in front of Zhang Jindong, and that is innovation. Just look at Pinduoduo. Relying on its innovative model, it has achieved a market value of US$200 billion in five years. In the traditional B2C model, Suning.com has lost to JD.com in terms of traffic, service, and scale, so it can only take the path of innovation.

Gome is undergoing major revisions and will vigorously develop experiential e-commerce shopping. Gome dares to cut off its arms to survive. What else can Zhang Jindong not dare?