联华超市(00980)公布，于2025年11月19日，公司直接全资附属公司世纪联华发展拟向百联集团间接全 资附属公司上海动燃出售杨浦世纪联华的全部股权，现金对价约为人民币7,828.60万元(主管国有资产监 督管理部门已经备案确认)。于出售事项交割完成后，杨浦世纪联华将不再为该公司的附属公司。 待出售事项完成后，公司拟与上海动燃订立委託管理协议，据此，公司同意向杨浦世纪联华提供经营管 理服务及资源配套服务，自委託管理协议生效之日起为期叁年。 据悉，杨浦世纪联华主要在上海市杨浦区和河南省经营大型综合超市。 ...

Core Viewpoint - Lianhua Supermarket (00980) plans to sell its entire stake in Yangpu Lianhua to Shanghai Dongran for approximately RMB 78.286 million, with the transaction confirmed by the relevant state-owned asset supervision authority [1] Group 1 - The sale is expected to be completed by November 19, 2025, after which Yangpu Lianhua will no longer be a subsidiary of the company [1] - Following the completion of the sale, the company intends to enter into a management agreement with Shanghai Dongran, providing operational management and resource support services to Yangpu Lianhua for a period of three years [1] - Yangpu Lianhua primarily operates large-scale comprehensive supermarkets in Yangpu District of Shanghai and Henan Province [1]

（股份代號：00980） 公告 (1)有關出售附屬公司全部股權的 須予披露交易及關連交易； 及 (2)有關委託管理協議的可能持續關連交易 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不會就本公告 全部或任何部份內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 出售附屬公司 （在中華人民共和國註冊成立的股份有限公司） 董事會宣佈，二零二五年十一月十九日，百聯集團間接全資附屬公司上海動 燃（作為買方）與本公司直接全資附屬公司世紀聯華發展（作為賣方）訂立之 楊浦世紀聯華股權轉讓協議，內容有關建議出售楊浦世紀聯華之全部股權， 現金對價約為人民幣7,828.60萬元（主管國有資產監督管理部門已經備案確 認）。於出售事項交割完成後，楊浦世紀聯華將不再為本公司的附屬公司。 委託管理協議 董事會進一步宣佈，待出售事項完成後，本公司擬與上海動燃訂立委託管理 協議，據此，本公司同意向楊浦世紀聯華提供經營管理服務及資源配套服 務，自委託管理協議生效之日起為期三年。 董事會亦謹此宣佈，力高企業融資有限公司（一家根據證券及期貨條例可從 事第6類（ ...

Core Insights - The article discusses the innovative "direct supply of agricultural futures delivery products to retail terminals" model implemented by Hai Zheng Futures and Lianhua Supermarket, which significantly reduced apple procurement costs and enhanced risk management in agricultural product trading [2][4]. Group 1: Cost Reduction and Efficiency - In April 2024, Lianhua Supermarket needed to procure 20 tons of high-quality apples, with the spot market price at 9.98 yuan/kg, while the futures market price was around 8.20 yuan/kg, resulting in a price difference of 1,780 yuan/ton [2]. - Hai Zheng Futures successfully purchased 20 tons of apples at 8,205 yuan/ton, lowering the procurement cost to 8.21 yuan/kg, which laid the foundation for cost control [2]. - After deducting transportation and related costs, the final procurement cost for Lianhua Supermarket was 8.66 yuan/kg, a reduction of 1.32 yuan/kg compared to traditional procurement methods, totaling a cost savings of 24,757.92 yuan [3]. Group 2: Quality Assurance and Consumer Benefits - The project involved thorough quality checks on apples, with 72% of the delivered 1,101 boxes being first-grade quality, and a low defect rate of 0.82%, meeting high market standards [3]. - Lianhua Supermarket utilized its store network to quickly complete inventory acceptance and regional distribution, enhancing market visibility through optimized display and promotional activities, leading to positive consumer recognition [3]. Group 3: Industry Development and Future Plans - The project represents the beginning of applying the futures delivery model in agricultural trade, with plans to expand to other products like red dates, eggs, pigs, and peanuts [4]. - The favorable policy environment in China encourages financial institutions to support agricultural industries, facilitating the optimization of production, circulation, and sales of agricultural products [5].

Core Insights - Lianhua Supermarket has signed a strategic cooperation agreement with Pu'er Supply and Marketing Group, enabling a systematic entry of regional specialty products into Lianhua's supply chain [3] - The "Mountain and Sea Encounter" event showcases a variety of high-quality agricultural products from different regions, enhancing the consumer experience in Shanghai [4][9] - The initiative aims to deepen direct sourcing from producers, supporting rural revitalization and consumption upgrades [11] Group 1: Strategic Cooperation - Lianhua Supermarket and Pu'er Supply and Marketing Group have formalized a partnership to introduce more regional specialty products into Lianhua's supply chain [3] - The first batch of products will be launched at the Century Lianhua Central Store and will gradually expand to more locations [3] Group 2: Product Showcase - The "Mountain and Sea Encounter" exhibition features specialty agricultural products from regions such as Yunnan, Anhui, Xinjiang, and Jilin, creating a quality consumption event [4] - Products include unique offerings like Yunnan's highland rose tea latte and various traditional Anhui delicacies, appealing to consumer preferences [6] Group 3: Consumer Engagement - The exhibition provides an immersive experience with tasting areas, cultural performances, and interactive sessions, enhancing consumer understanding of the products [9] - Consumers can enjoy discounts and promotional activities during the event, fostering a lively shopping atmosphere [9] Group 4: Supply Chain and Rural Support - The event reflects Lianhua's "Gold Selection" initiative, establishing a direct sourcing chain from production areas to stores, ensuring product freshness and authenticity [11] - This approach not only benefits consumers but also aids farmers in increasing their income and promotes regional agricultural branding [11]

Investment Dynamics - Hermès has acquired a 15% stake in Italian fabric manufacturer Lanificio Colombo, which specializes in cashmere and rare animal fibers [3] - In Q3 of the current fiscal year, Hermès reported a 5% increase in sales, reaching €3.9 billion, with the leather goods sector performing particularly well [3] - Hermès plans to invest over €1 billion in the next three years to build three new leather workshops in France to meet the growing demand for handbags [3] Brand Dynamics - Lianhua Supermarket announced the sale of its entire stake in Yangpu Century Lianhua to a subsidiary of Bailian Group, while continuing to manage and support the brand post-sale [8] - Lavazza has opened its first coffee shop in Hong Kong, expanding its presence in major Chinese cities since establishing a joint venture in 2020 [14] Financial Performance - E.l.f. Beauty reported a 14% increase in net sales for Q2 2026, reaching $343.9 million, with adjusted net income of $40.7 million, slightly below the previous year [17] - Coty reported a 6% decline in net revenue for Q1 2026, totaling $1.577 billion, with a 19% drop in net profit compared to the previous year [19] Personnel Changes - Tory Burch appointed Joëlle Grunberg as North America President, who has extensive experience in the fashion and luxury goods sector [21] - Carlsberg Group welcomed Torsten Steenholt as the new Executive Vice President and member of the Executive Committee, focusing on supply chain integration [27]

Core Viewpoint - The company announced a planned transfer of 100% equity of Shanghai Century Lianhua Supermarket Yangpu Co., Ltd. from its wholly-owned subsidiary, Lianhua Supermarket, to Shanghai Dongran Industrial, which is a wholly-owned subsidiary of the company's controlling shareholder, Bailian Group [1] Group 1 - The equity transfer is part of a related party transaction and is not expected to constitute a significant asset restructuring for the company [1] - Following the completion of the equity transfer, Lianhua Supermarket will enter into a management agreement with Dongran Industrial to provide operational management and resource support services to Yangpu Century Lianhua [1]

Core Viewpoint - Bailian Group's subsidiary, Lianhua Supermarket, plans to transfer 100% equity of Shanghai Century Lianhua Supermarket Yangpu Co., Ltd. to Dongran Industrial, a wholly-owned subsidiary of Bailian Group, which constitutes a related party transaction but is not expected to be a major asset restructuring [2] Group 1 - The equity transfer is currently in the preliminary planning stage, with no agreements signed yet [2] - Lianhua Supermarket will provide operational management and resource support services to Yangpu Century Lianhua after the transfer [2] - The transaction requires further verification and communication, as well as compliance with relevant laws, regulations, and company procedures [2]

Core Viewpoint - Lianhua Supermarket (00980) plans to sell its entire stake in Shanghai Lianhua Supermarket Yangpu Co., Ltd. to Baill Group's subsidiary, Shanghai Dongran Industrial Co., Ltd., based on an independent valuation report [1][2] Group 1: Sale Details - The sale price will be determined based on an independent assessment and agreed upon in a formal share transfer agreement [1] - Yangpu Lianhua primarily operates large comprehensive supermarkets in Yangpu District, Shanghai, and Henan Province [1] Group 2: Management Arrangement - After the sale is completed, the company intends to enter into a management agreement with Shanghai Dongran to provide operational management and resource support to Yangpu Lianhua [1] - The management support will include personnel management, brand support, information system support, and product supply support to help achieve new operational goals [2] Group 3: Strategic Considerations - The decision to sell is based on the company's long-term sustainable development strategy and aims to enhance overall performance [1] - The company is focusing on asset divestiture to better concentrate on its core business development in Shanghai and Zhejiang [1]

Core Viewpoint - The company plans to sell its entire stake in Shanghai Century Lianhua Supermarket Yangpu Co., Ltd. to a subsidiary of Bailian Group, aiming to enhance its long-term sustainable development and overall performance [1][2] Group 1: Sale Details - The sale will be based on an independent valuation report and agreed upon in a formal share transfer agreement [1] - Yangpu Century Lianhua primarily operates large-scale supermarkets in Yangpu District of Shanghai and Henan Province [1] Group 2: Management Arrangement - After the sale, the company intends to enter into a management agreement with Shanghai Dongran to provide operational management and resource support to Yangpu Century Lianhua [1] - The management support will include personnel management, brand support, information system support, and product supply support to help achieve new operational goals [2] Group 3: Strategic Considerations - The decision to sell is part of the company's strategy to focus on core business development in Shanghai and Zhejiang, considering market conditions, store performance, and supply chain impacts [1]