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Alibaba Group Says Agreed To Acquire Controlling Stake In Sun Art
Sun Art Retail Group Posts HY Profit Attributable Of RMB 2,062 Million
Sun Art Retail Entered 2020 Rajax Network Shanghai Ele Me Business Cooperation Agreements
Sun Art Retail Group Ltd. is an investment holding company principally engaged in the operation of hypermarkets and e-commerce platforms in China. The Company operates its hypermarket business by two recognized banners, namely Auchan and RT-Mart. The Company's subsidiaries include RT-MART Holdings Limited, Concord Investment (China) Co., Ltd. and RT-MART Limited Shanghai. Through its subsidiaries, the Company is also engaged in property development, leasing and retailing business.
No. 255 Jiang Chang Xi Road
Non-Executive Chairman of the Board
Chief Executive Officer, Executive Director
Chief Financial Officer
Chief Executive Officer - Group Subsidiaries
Chief Financial Officer of Group Subsidiaries
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Alibaba Group Holdings <BABA.N> <9988.HK> said on Monday it will invest $3.6 billion to acquire a controlling stake in hypermarket operator Sun Art Retail Group Ltd <6808.HK>, gaining further ground in China's retail market.
Alibaba Group Holdings said on Monday it will invest $3.6 billion to boost its stake in supermarket operator Sun Art Retail Group Ltd.
France's Auchan said its performance this year will be dependent on the impact of the coronavirus outbreak after 2019 results on Friday showed the first benefits of the retailer's revival plan.
France's Auchan said on Friday it was reaping the first benefits of its revival plan which lifted 2019 operating profitability at its core retail arm.
China's major hypermarket operator Sun Art Retail Group Ltd expects to open 25 new stores in the country this year and also return to positive growth in 2019, its top executives said on Monday.
* Says innovation and digitalization key to retail industry (Adds CEO change, management comment, further earnings details, background)
Chinese hypermarket operator Sun Art Retail Group Ltd on Sunday posted a 7.3 percent fall in 2018 profit, missing market expectations, amid increasing competition from online and offline rivals.
* Says to expand in lower tier cities, adding 25 outlets in H2
Sun Art Retail Group Ltd's first-half same-store sales dropped at a steeper pace than the year-earlier period, reflecting the competitive challenges facing China's top hypermarket operator.
* Says to work with Alibaba to make use of big data (Recasts on share plunge, adds management comment)
Hypermarket operator Sun Art Retail Group Ltd posted a 8.6 percent rise in 2017 net profit on Sunday as steady demand from lower-tier cities helped offset pressure from rapidly growing e-commerce.
* CHENG CHUAN-TAI HAS RESIGNED AS A NON-EXECUTIVE DIRECTOR, CHAIRMAN OF BOARD
* MEMBERSHIP AGREEMENT HAS A TERM COMMENCING FROM 1 JANUARY 2018 AND ENDING ON 31 DECEMBER 2018. Source text for Eikon: Further company coverage:
* COMPANY ENTERED INTO NEW AGENCY AGREEMENT AND NEW SUBCONTRACTING AGREEMENT WITH PATINVEST. Source text for Eikon: Further company coverage:
Sun Art Retail Group, China's top hypermart operator, said on Friday its stores will use Alibaba Group Holding Ltd's software solutions and online transaction data to improve business efficiency, sending its shares up 5 percent.
* ALIBABA ZETAI ENTERED INTO BUSINESS COOPERATION AGREEMENT WITH CO AND ITS UNITS AUCHAN CHINA AND RT MART CHINA Source text for Eikon: Further company coverage:
* announces acquisition of 26.02% interest in sun art retail group limited by Taobao China Holding Limited
Internet giant Alibaba Group Holding Ltd said it would buy an aggregate direct and indirect stake of 36.16 percent stake in China's top hypermarket operator, Sun Art Retail Group Ltd, for a total HK$22.4 billion ($2.9 billion).
* Trading in shares of co suspended at 9:00 a.m. on Monday 13 Nov Source text for Eikon: Further company coverage:
* 9-month revenue RMB79.03 billin versus RMB77.32 billion a year ago
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.