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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  Suning.Com Co Ltd    002024   CNE000001KF2

SUNING.COM CO LTD

(002024)
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Chinese e-vehicle firm Byton's chairman to quit - German magazine

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04/11/2019 | 08:45am EDT
Carsten Breitfeld, co-founder and CEO of electric vehicle startup Byton, shakes hands with Liang Guiyou of China's state-owned automaker FAW Group at a signing ceremony in Beijing

BERLIN (Reuters) - The chairman and co-founder of Chinese electric vehicle manufacturer Byton, Carsten Breitfeld, will leave the company soon, a German business monthly reported on Thursday, citing several unnamed sources.

Byton, backed by Chinese retailer Suning among others, was facing trouble funding its planned expansion in the Chinese market, causing tensions inside the company and prompting the decision, Manager Magazin said.

It cited a spokesman for Byton as saying that the company saw no reason for such speculation.

Sources told Reuters in January that Byton was seeking to raise at least $500 million euros to finance its growth plan, and Breitfeld told a German magazine in October that it might launch an initial public offering.

Manager Magazin said Breitfeld would leave before Byton's first premium SUV model, M-Byte, enters mass production this year, Manager Magazin said.

Breitfeld, a former BMW top executive, co-founded Byton in 2016 and acted as CEO until the startup overhauled its leadership structure in January, naming Breitfeld chairman and appointing Daniel Kirchert, a former Dongfeng Infiniti executive, as CEO.

(Reporting by Tassilo Hummel; editing by John Stonestreet)

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SUNING.COM CO LTD End-of-day quote.
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Financials (CNY)
Sales 2019 305 B
EBIT 2019 2 677 M
Net income 2019 15 279 M
Finance 2019 24 403 M
Yield 2019 0,76%
P/E ratio 2019 7,81
P/E ratio 2020 34,83
EV / Sales 2019 0,32x
EV / Sales 2020 0,27x
Capitalization 121 B
Chart SUNING.COM CO LTD
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Suning.Com Co Ltd Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 16,1  CNY
Spread / Average Target 23%
EPS Revisions
Managers
NameTitle
En Long Hou President
Jin Dong Zhang Chairman
Xiao Ling Wang Chairman-Supervisory Board
Zhong Xiang Xiao Chief Financial Officer
Wei Min Sun Vice Chairman
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