At the end of December 2017, Yonghui Superstore gained 12% of the shares of Hongqi Chain Store through a share transfer agreement. Even though it has not even been half a month since then, Yonghui has once again joined hands with Hongqi Chain Store, as it spent a total of 16,6 billion yuan to acquire 21% of the shares, making it the second largest shareholder…Full Article: Fresh Plaza Jan 2018
- Yonghui Superstores (SHA:601933) will acquire an additional 9% stake in Chengdu Hongqi Chain (SHE:002697) for USD 109 million. This will bring Yoghui’s total share in Hongqi to 21%. The two companies also signed a strategic cooperation agreement with China Minsheng Investment Group. Minsheng has an 8% share in Hongqi via one of its subsidiaries.
- In December 2017, Yonghui Superstores (SHA:601933) announced it would acquire a 12% stake in Chengdu Hongqi Chain (SHE:002697) for USD 144 million. At the time of the deal, Yonghui had a small presence (~42 stores) in Sichuan Province, while Hongqi had more than 2,700 stores in the province. During the same month, Yonghui Superstores (SHA:601933) announced that Tencent Holdings (HKG:0700) would purchase a 5% stake in Yonghui for CNY 4.2 billion (~USD 636 million). At the same time, Tencent would increase its stake in Yonghui Yunchuang Technology (subsidiary of Yonghui) to 15%.
- In August 2015, JD.com purchased a 10% stake in Yonghui Superstores for CNY 4.3 billion (~USD 662 million).
- In October 2014, Yonghui Superstores and Zhongbai Holdings Group (SHE:000759) signed a cooperation agreement. Zhongbai Holdings Group operates supermarkets and convenience stores, including Lawson convenience stores in Hubei Province.
- In March 2014, Tencent Holdings (internet and tech investment company) purchased a 15% stake in JD.com.
- Founded in 2001 and headquartered in Fuzhou, Fujian Province, Yonghui Superstores (SHA:601933) operates 460 medium-sized supermarkets all over China (as of 2015). Its retail chains include Yonghui Superstores (flagship), Bravo YH (est. 2012, smaller-sized premium product chain), Yonghui Life (est. in 2015, O2O, convenience store), and YH Super Species (est. in 2017, fresh food and restaurant stalls). Yonghui Superstores has seen healthy growth which the company attributes to their focus on fresh products, which occupies 40-50% of a single store’s floor space. The company was listed on the Shanghai Stock Exchange in 2010.
- Founded in 2000 and headquartered in Chengdu, Sichuan Province, Chengdu Hongqi Chain (SHE:002697) manages convenience stores and supermarkets in primarily in Chengdu, Sichuan Province. In 2015, the company had approximately 2,704 stores.
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