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SUNART RETAIL CEO: Team-up with BABA-W Not to be Disrupted
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BABA-W (09988.HK) fully sold its stake in SUNART RETAIL (06808.HK). SUNART RETAIL and RT-Mart CEO Shen Hui issued an internal letter to employees, pointing out that the deal is a focused adjustment made by Alibaba based on its strategic direction. BABA-W has provided backbone support to SUNART RETAIL’s digital transformation in the past seven years, said Shen, underscoring that the business cooperation between the two parties will not be disrupted in the future, and both companies will still be key business partners. He also pointed out that SUNART RETAIL’s overall operational decisions, strategic direction and core management will remain stable and broadly unchanged in the future. Besides, the new shareholder, DCP Capital, is an international private equity investor, of which core team has led many leading investment projects in the domestic consumption and retail fields. Optimistic about the company's development for the long haul, the CEO envisioned that together they can create sustainable long-term value down the road. AAStocks Financial News |
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