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Alibaba and Bailian Group are planning to open 500 Ego convenience stores in China this year.

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Chinese retailer Yiguo has announced that it has agreed to transfer 18% of its shares in Lianhua Supermarket to Alibaba China, reportedly worth HKD780m (US$100m). Alibaba's share in Lianhua grows further Yiguo is a well-known Chinese fresh produce e-commerce leader and acquired all of Yonghui Superstores' shares in Lianhua Supermarket in January. The latest agreement with Alibaba is an indi...
Ecommerce giant Alibaba Group has formed a strategic partnership with Chinese retail conglomerate Bailian Group. The cooperation Alibaba and Bailian will initially cooperate on supply chain technology using Alibaba’s big data capabilities as well as integrating Alipay payments with Bailian Group’s existing membership programme.  Alibaba has been extending its reach offline to provide a b...
Chinese retailer Yonghui Superstores has announced that it has agreed to transfer all its shares in Shanghai-based Lianhua Supermarket to a fresh produce ecommerce operator Yiguo, in transactions worth HKD950m (US$122.4m). Disposing of unprofitable overlapping business Since becoming the second-largest shareholder of Lianhua in April 2015 with 21% of its shares, Yonghui has been involved in...
Chinese retailer Lianhua Supermarket has warned that its net loss for the nine months ended 30 September 2016 is expected to increase by approximately 20% to 40% compared to same period last year. Tough trading environment The expected increase in loss is mainly due to the shrinking market demand and intensified competition of online and offline retailers, which has led to a decrease in the...

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