Yonghui news

China’s leading retailer Yonghui has revealed that its revenue has increased by 18% to RMB24.5b (US$3.7b) in the first half of 2016, while its profit has seen a 27% uplift. Strong regional growth Yonghui attributes its impressive H1 performance to the regional development. Its operations in the smaller provinces, such as Jiangsu, Shaanxi and Shanxi, manage to turn losses into profits...

Asian retail giant Dairy Farm has revealed that sales were up 5% on a constant currency basis for the financial year ending December 2015, but the challenging operating environment across Asia resulted in a 17% fall in profit. Performance impacted by difficult regional conditions Despite sales improvement across all formats in constant currency, the group’s like-for-like sales remained ...

Chinese retail chain Lianhua Supermarket has warned investors that the company expects a net loss ranging from approximately RMB 450m (US$ 68m) to RMB500m (US$ 76m) for the year ended 31 December 2015, according to Lianhua’s latest announcement. Subdued results due to impact of economic slowdown and e-commerce With 4,195 supermarkets and hypermarkets in China, Lianhua attributes the si...

Online retailer JD.com is to deliver Chinese supermarket Yonghui's products. Doorstep delivery within two hours Later this month, shoppers will be able to order fresh produce and grocery and have it delivered to their doorstep within two hours. The service currently operates across 30 stores in and around Beijing, with shoppers being able to order from a range of 1,000 products. Orders can ...

We round up the contrasting results from three key domestic Chinese retailers Lianhua, Yongui and Renrenle at the mid-point of the year.  Slipping sales and profit at Lianhua In the first half, Lianhua's turnover declined by -6.3% to RMB 14bn and income declined 5.3% to RMB 3.5bn . Falling same store sales contributed heavily, down -6.3% year on year. Hypermarkets (-4.3%) supermarkets...

Dairy Farm has agreed to purchase a further 143m shares via private placement in Yonghui for approximately US$210m. Investment has been made in conjunction with JD.com Dairy Farm will continue to hold a 19.99% interest while JD.com, China's second largest e-commerce site, will acquire a 10% interest expected to cost approximately US$700m. Graham Allen, Dairy Farm Group Chief Executive, com...

Our team of analysts travel around the world, seeking out the latest in FMCG retail innovation. We have selected some of the best stores from our visits across the year so far. UK - Waitrose Food & Home, Salisbury Selected by: Priya Chandarana, Retail Analyst Waitrose's newest flagship, this store has a clear focus on the retailer's food credentials. There is a particularly nice tie...

Yonghui will become Lianhua's second-biggest shareholder by buying a 21.17% stake for RMB744 mn (USD1.19 mn). The Bailian Group remains Lianhua's largest shareholder. Yonghui, headquartered in Fujian province, has been strengthening local expansion through taking stake in top regional retailers. Its equity investment in Zhongbai Group in Hubei province was another example. Yonghui is gearing u...

Yonghui posted revenue of RMB36.77 bn (USD6.0 bn) and net profit of RMB851 mn (USD138.8 mn), up by 22.38% and 18.05% year-on-year respectively, in its annual results for 2014. During the year, Yonghui opened 54 new stores, 31 of which were opened in Q4. By January 9, 2015, Yonghui operates 339 stores in China. Yonghui has made a few strategic moves in the past year, which have supported the in...

The revenue of the company continued to grow steadily to RMB 17.7bn (USD 2.9bn), up 22.8% year on year, while net profit grew 16.4%. Engines of growth Fresh: Revenue from fresh categories saw an increase of 24% to RMB 7.87bn and accounted for 44% of total revenue. New stores: Yonghui has opened 11 new stores in the first half of 2014, making its total sales area 2.7 million sqm of the 23...