Jiangsu Government backed consortium comprising of TCL Technology Group Corporation (SZSE:000100), Xiaomi Corporation (SEHK:1810), Midea Group Co., Ltd. (SZSE:000333), Haier Smart Home Co., Ltd. (SHSE:600690), and Alimama agreed to acquired 17% stake in Suning.com Co., Ltd. (SZSE:002024) from Suning Electrical Appliance Group Corporation, Suning Holdings Group Co., Ltd. and Zhang Jindong for CNY 8.7 billion.