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Source: financial Investment News
On May 8, # Pangdonglai will start to help Yonghui supermarket # and other topics have rushed to hot search and become the focus of market attention.
A reporter from the Financial Investment News noted that after Yonghui supermarket (601933) lost more than 8 billion yuan in three years, how to turn the company around has become an urgent problem to be solved.
Yonghui supermarket store in Chengdu 339
The total market capitalization once exceeded 100 billion.
According to the Securities Times, Yu Donglai, chairman of Henan Pangdonglai Trading Group, came to Zhengzhou on May 7 to visit four Yonghui supermarket stores, including Longhu Jinyi City Store, Hanhai Beijin Dian, Yuhua Plaza Store and Park Maodian. At the same time, Fang Donglai has launched a plan to help Yonghui supermarket, and the two start-up stores are Yonghui supermarket Hanhaibei Gold Store and Xinxiang Baolong Square Store.
Data show that Yonghui supermarket is one of the first circulation enterprises in China to introduce fresh agricultural products into modern supermarkets. Pangdonglai, which originated in Xuchang, Henan Province, is a supermarket brand that has frequently become an "online celebrity" in recent years.
According to reports, Fengdonglai also made "explosive changes" to Bubugao (now * St Bugao (rights protection)) Meixi Lake store, which significantly increased the store's sales and passenger volume in a short period of time, and Bubugao's share price rose more than 15% in four trading days.
With such a precedent, the share price of Yonghui supermarket was also stimulated for a time. On May 8, the share price of Yonghui supermarket climbed rapidly and finally closed by the daily limit. However, this rise did not last. By the close of trading on the 9th, the company's share price had fallen by 2. 5%.Omahapoker.67%, 2.55 yuan per share.
According to Wind
In retrospect, Yonghui supermarket once had a "highlight moment" with a total market value of more than 110 billion yuan. however, the company's current total market capitalization is only 23.1 billion yuan, which has shrunk by more than 70%.
Cut-in online upgrade
"I've been working here for a long time, and I still have a lot of customers. Especially on weekends, there are often queues of customers in the fresh area. " A staff member of a Yonghui supermarket in Chengdu told the Financial Investment Daily.
The reporter noticed that even in the morning, this Yonghui supermarket still has many customers shopping.
"there are more goods here than ordinary small supermarkets, especially fresh, and there are often discounts, so it's cost-effective to buy things." Mr. Luo, who is selecting aquatic products in the store, said.
However, as the space for development has been squeezed by online giants, Yonghui supermarket has also been making efforts "online" in recent years. According to Li Songfeng, CEO of Yonghui supermarket, "upgrading online with the integration of stores and warehouses is the hope for Yonghui's performance to turn losses into profits."
Yonghui supermarket financial report data show that in the first quarter of this year, the company's online business revenue was 4.1 billion yuan, an increase of 1.99% over the same period last year, accounting for 18.92% of the company's operating revenue. During the reporting period, Yonghui Life's self-operated APP has covered 911 stores, with sales of 2.14 billion yuan, with an average daily volume of 297000, with an average monthly repurchase rate of 46.6%; third-party platform-to-home business has covered 905 stores, achieving sales of 1.97 billion yuan, with an average daily volume of 197000 units; and the number of registered members of Yonghui Life APP is about 117 million.
Performance has been in the red for three years in a row
According to the 2023 annual report, during the reporting period, Yonghui supermarket achieved 78.642 billion yuan in operating income, down 12.71 percent from the same period last year, while its mother's net profit lost 1.329 billion yuan, 51.9 percent lower than the same period last year.
According to the company announcement
As for the reasons for the decline in performance, Yonghui supermarket said that on the one hand, the company continued to adjust its stores in recent years and took the initiative to close stores that continued to lose money; on the other hand, the national economy was gradually recovering in 2023. The physical retail industry as a whole has suffered unprecedented challenges, and store income has also declined when residents' consumption willingness and spending power have declined.
According to the annual report, Yonghui supermarket opened 12 new stores, closed 45 stores and signed 10 new stores in 2023. As of December 31, 2023, supermarket business has entered 29 provinces and cities across the country, with a total of 1000 stores.
It is worth noting that Yonghui supermarket has lost money for three years in a row, including 2023. Of this total, the net profit of 2021 and 2022 lost 3.944 billion yuan and 2.763 billion yuan respectively. According to this calculation, the cumulative loss of the company in the past three years has exceeded 8 billion yuan.
Enterprise inspection data show that Yonghui supermarket became the subject of execution twice in November last year and April this year, involving 10.07 million yuan and 2.38 million yuan respectively. The cases were disputes over housing rental contracts and disputes over sales contracts. Further, # netizens exposed that Yonghui supermarket mice climbed into the rice pile # also sparked a heated discussion in February 2023. According to relevant reports at the time, this is not the first time Yonghui supermarket has rushed to hot search because of the mouse incident.
Pangdong to help, Yonghui supermarket from two stores to try, but the transformation can play a role, it remains to be seen over time.
