(Yicai Global) Dec. 11 -- Chinese e-commerce platform Suning Commerce Group Co. [SHE:002024] has raised USD940 million in proceeds from selling 5.5 million of its shares in Alibaba Group Holdings Ltd. and will use the proceeds to support efforts in technology research and development and logistics. 

The group also plans to extend cooperation with Alibaba Group in areas including joint purchasing, Tmall store operations and logistics.