Yonghui news

22 September 2021
The country is seeing a wholesale store boom. Yonghui opened its first wholesale store in May 2021, it now has 45 such stores. Local retailers are rushing into the wholesale sector, encouraged by Yonghui’s good results Yonghui opened its first wholesale store in May 2021 by upgrading one of its Bravo YH supermarkets in Fuzhou. Within four months, it has upgraded 45 selected stores into wh...
27 January 2021
The retailer has opened 34 new supermarkets in December and an additional three in January, bringing its total store network to 1,022.   Transition from regional to national operator As one of the fastest growing grocery retailers in China, Yonghui is regarded by many as a regional operator. Founded in Fujian in 2001, it entered Chongqing in 2004 and then Beijing in 2009. One of its focu...
08 January 2021
We review major events that took place in China's grocery retail industry in the past year. 1. Flourishing of community stores Community store is the next big thing in China. It is estimated that 30% - 40% of the urban consumption expenditure is within 1 km of the community in China. It is an area that big format stores and online players find very hard to reach. The pandemic has acce...
01 September 2020
Yonghui has closed three Bravo supermarkets and 14 Mini Stores in China. Our view Despite the recent store closures, Yonghui remains one of the fastest growing retailers in China. Revenue grew 20.4% in 2019. Its strong fresh offer and omnichannel operations continue to support growth. Yonghui remains committed to format innovation and store expansion. It opened, for example, more than 500 ...
30 July 2020
Dairy Farm has released its H1 results for the six months ended 30 June. Consolidated sales including 100% of associates and joint venture increased 6% to US$14,547m, but subsidiary sales fell 9% to US$5,240m. Overall performance mixed Sales by the Group’s subsidiaries fell mainly due to the annualised impact of the stores closures in 2019 under the Group’s space optimisation plan in Southe...
06 May 2020
Yonghui has posted another strong set of annual results, with total revenue increasing 20.4% to CNY84.8bn (US$11.9bn) for the year ending 31 December 2019. National coverage of China Despite increasing competition and the market’s slowdown in growth, Yonghui continues to be the fastest growing bricks-and-mortar retailer in China. To maintain growth, it continues to develop innovative format...
21 April 2020
Yonghui, one of the fastest growing retailers in China, has announced a change in senior management.   Ms. Yang Li leaves VP role Yonghui’s board of directors recently received the resignation of Ms. Yang Li, the Vice President. In a statement released by the retailer dated, April 18, Ms. Yang Li's resignation takes effect immediately. Her replacement has yet to be confirmed, but Yonghui ci...
16 March 2020
The sale of a majority stake in Hong Kong-based supermarket chain City’super has attracted interest from CR Vanguard and Yonghui, Bloomberg reports. Hong Kong's landscape may consolidate Earlier this year , Bloomberg reported that Fenix Group was looking for potential buyers to sell its majority stake in City Super Group. The first-round of bids could be as soon as later this month. CR ...
05 March 2020
Dairy Farm has reported a mixed set of results for the fiscal year ended 31 st December 2019. Performance of its Southeast Asia Grocery Retail and Health and Beauty businesses improved, but underlying profit for the Group was impacted by social unrest in Hong Kong. Sales growth from 4 out of 5 divisions, but 2019 sales down 4.7% Dairy Farm’s sales in 2019 fell 4.7% to US$11.1bn year-on-yea...
08 November 2019
Dairy Farm has posted an update on its trading performance for the third quarter, with growth in line with last year. Steady third quarter overall, but weak consumer sentiment in Hong Kong Dairy Farm said it performed "steadily" in the third quarter, with overall earnings in line with the comparable period the prior year. Performance across all channels, however, was impacted by difficult m...