Yonghui news

Tencent has partnered ParknShop and Yonghui to launch a new grocery chain ParknShop Yonghui. Valued at US$170m, the joint venture aims to help both Yonghui and ParknShop expand their businesses in China further. A new grocery chain, ParknShop Yonghui  Yonghui will be the largest stakeholder in the new joint venture, investing US$89.5m for a 50% stake. ParknShop will hold a 40% stake with co...

Yonghui has achieved total revenue of CNY34.3bn (US$5bn), an increase of 21.5% in the first half of 2018. Store expansion driving growth Yonghui continues to report robust results despite increasing challenges raised by online rivals. Network expansion and format development are major drivers of growth for the retailer, as it continues to expand its network across China. Yonghui is mainl...

Dairy Farm has reported a strong set of results for the six months ended 30 June, with consolidated sales up 6%. Overall performance encouraging Total sales, including associates and joint ventures, were up 17% to US$12.2bn. This was mainly driven by increased sales from Yonghui supermarket in China. Dairy Farm sales increased 8% to US$5.9bn or up 6% at constant rates of exchange, and under...

Dairy Farm has reported a disappointing set of annual results, mainly attributed to the performance of its supermarkets and hypermarkets in South-east Asia. Annual sales up a modest 1% YoY Sales was up 1% YoY to US$11.3bn while consolidated sales including joint ventures and associates increased 7% to US$21.8bn, reflecting strong sales growth of 17% to US$ 8.6bn at Yonghui. However, net pro...

Chinese tech giant Tencent Holding Ltd, rival of Alibaba Group,  plans to buy a 5 per cent stake in Yonghui Superstores, making a push into bricks and mortar retail. The investment The investment will be made through Tencent affiliate Linzhi Tencent Technology, will see the firm take a minority 5% stake of Yonghui Superstores and a 15 percent stake in Yonghui’s supply chain and logistics su...

Dairy Farm has reported solid profit growth in the first half despite lower sales in its supermarkets and hypermarkets. Supermarket and hypermarket sales declined 3 per cent Total sales, including associates and joint ventures, were 3 per cent higher at US$10.4bn. The underlying net profit was US$211m , up 6 per cent. Supermarket and hypermarket sales declined 3 per cent at constant exch...

Yonghui has achieved total revenue of CNY 28.3bn (US$4.2bn), an increase of 15.49% and consolidated net profit of CNY1.1bn(US$160m), an increase of 57.57% in the first half of 2017. Continuous store expansion Yonghui opened 35 new stores (excluding membership stores, Super Species, and Yonghui Select), and has signed 54 new sites. Total operating area has reached 4.5136 million square meter...

Started as a large format operator, Yonghui, a leading Chinese retailer, has been rolling out new and smaller formats to stay competitive. O2O member experience stores This was Yonghui's first experiment with smaller formats in 2015. The retailer launched its first outlet under this banner in Shanghai and now has more than 30 stores and aims to roll out even further. Positioned as a communi...

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...

Dairy Farm has completed the acquisition of a further 286,934,440 shares in Yonghui for US$190 million in order to keep its share of Yonghui at 19.99%. The acquisition The acquisition, which is alongside an acquisition by JD.com of a 10% interest and by Mr. Zhang Xuansong, the Chairman of Yonghui, of a 2% interest, shows Dairy Farm's commitment to the Chinese market. The co-operation with...