Suning debt restructuring is still ongoing; circulating online reports are false.

How does AI · Zhang Jindong’s asset injection into the trust affect the debt repayment process?

【Suning debt restructuring still ongoing; rumors are false】Financial Associated Press, March 23 — Recently, a rumor circulated online claiming that “former Jiangsu billionaire Zhang Jindong’s assets have been cleared, and Suning’s hundred-billion-yuan debt restructuring has been completed,” which has attracted attention. On March 22, a reporter from the Shanghai Stock Exchange learned from the administrator involved in Suning’s restructuring case that the rumor is false, and the debt restructuring work is still in progress. The administrator explained that since the Nanjing Intermediate People’s Court in Jiangsu Province accepted the “Suning Appliance Group Restructuring Case” in January 2025, the 238.7 billion yuan debt restructuring of Suning Appliance Group has been ongoing. According to the court-approved restructuring plan, the assets of Suning Appliance Group and 37 other companies will be included in a trust plan. Except for some assets with collateral and cash payments, the remaining claims will be settled through the receipt of trust shares. Among these, the entire equity, real estate, cash, financial assets, and collectibles of Zhang Jindong and his wife, chairman of Suning Holdings Group, will also be injected into the restructuring trust and used to settle debts. The specific procedures and details have not been publicly disclosed. Rumors claiming that “only a 68-square-meter apartment for basic living remains, with no other large assets available for disposal” are false. (Shanghai Securities News)