Core Insights - Yonghui Supermarket has officially opened its first self-reformed store in the city's sub-center, marking a significant expansion in its store format [1] - The number of reformed stores nationwide has reached 81, with a target of 150 by the end of July and 300 before the Lunar New Year in 2026 [1] Store Features - The new store includes a dining area with offerings such as soda, ice cream, and hot dogs, along with facilities for on-site dining [1] - Customer convenience features include disposable utensils at checkout, a health service area with blood pressure and height measurement tools, seasonal tea drinks, and free charging stations [1] - Store layout improvements include wider aisles of 4 meters, uniform shelf heights of 1.6 meters, and the removal of mandatory traffic flow [1] Product Offerings - The store combines direct supply from Yonghui farms with seasonal products, enhancing customer choices [2] - A dedicated brand area showcases products like craft beer, yogurt, and laundry pods, catering to upcoming holidays with specially selected items [2] Employee Welfare - The store has improved employee conditions by providing dedicated seating for cashiers and weighers, as well as new rest and changing rooms [2] - Employee compensation has increased by approximately 30%, with average working hours capped at 8 hours per day and 10 days of paid annual leave after one year of service [2]

Group 1: Consumer Electronics Sector - The CSI Consumer Electronics Theme Index (931494) decreased by 0.13% as of May 22, 2025, with mixed performance among constituent stocks [1] - Leading gainers included Xunwei Communication (300136) up 3.30%, Wenta Technology (600745) up 2.63%, and Silan Microelectronics (600460) up 2.33% [1] - The Consumer Electronics ETF (561600) also fell by 0.13%, with a latest price of 0.78 yuan, but showed a 1.42% increase over the past month [1] - The ETF's trading volume was 287.16 million yuan with a turnover rate of 1.49% [1] - Over the past two weeks, the ETF's scale increased by 16.72 million yuan, ranking it in the top 1/5 among comparable funds [1] - The ETF's share count rose by 26 million shares in the same period, also placing it in the top 1/5 among comparable funds [1] - Recent capital inflow was balanced, with a total of 22.05 million yuan attracted over the last 10 trading days [1] Group 2: Artificial Intelligence Sector - The CSI Artificial Intelligence Theme Index (930713) declined by 0.06% as of May 22, 2025, with varied performance among its constituent stocks [2] - Top performers included Kunlun Wanwei (300418) up 7.89%, New Yisheng (300502) up 1.87%, and Shitou Technology (688169) up 1.82% [2] - The AI ETF (512930) decreased by 0.15%, with a latest price of 1.31 yuan, but recorded a 2.26% increase over the past month [2] - The ETF's trading volume was 28.19 million yuan with a turnover rate of 1.44% [3] - The latest scale of the AI ETF reached 1.95 billion yuan [3] - Recent net capital inflow was 1.31 million yuan, with a total of 32.98 million yuan attracted over the last five trading days [3] - Leveraged funds are actively participating, with the latest margin buying amounting to 4.44 million yuan and a margin balance of 90.18 million yuan [3] Group 3: Online Consumption Sector - The CSI Hong Kong-Shanghai Online Consumption Theme Index (931481) fell by 0.79% as of May 22, 2025, with mixed results among its constituent stocks [4] - Leading gainers included High Xin Retail (06808) up 10.24%, Kunlun Wanwei (300418) up 6.48%, and Youzu Network (002174) up 4.86% [4] - The Online Consumption ETF (159793) decreased by 0.78%, with a latest price of 0.89 yuan, but showed a 3.46% increase over the past month [4] - The index comprises 50 companies involved in online shopping, digital entertainment, online education, and telemedicine [13] - The top ten weighted stocks in the index account for 56.94% of the total weight, with Alibaba-W (09988) having the highest weight at 14.37% [13]

Meeting Details - The shareholders' meeting was held on May 20, 2025, at a hotel in Fuzhou, Fujian Province [1] - The attendance rate of shareholders was 53.4304% [1] Voting Results - All non-cumulative voting proposals were approved with high support, including: - Proposal 1: 99.9132% approval from A-shareholders [1] - Proposal 2: 99.9099% approval from A-shareholders [1] - Proposal 3: 99.8948% approval from A-shareholders [1] - Proposal 4: 97.7812% approval from A-shareholders [1] - Cumulative voting proposals also received strong approval, with: - Proposal 1: 99.8700% approval from A-shareholders [2] - Proposal 2: 99.2245% approval from A-shareholders [2] - Proposal 3: 99.9094% approval from A-shareholders [2] - Proposal 4: 99.9018% approval from A-shareholders [2] Major Issues Discussed - The meeting included discussions on significant matters such as profit distribution and related party transactions [3] - Related shareholders, including Zhang Xuansong and his associates, abstained from voting on certain proposals [3] - The meeting also reviewed the 2024 annual independent director's report [3] Legal Compliance - The meeting's voting procedures were verified by lawyers, confirming compliance with relevant laws and company regulations [3]

上海市通力律师事务所 关于永辉超市股份有限公司 2024 年年度股东大会的法律意见书 致: 永辉超市股份有限公司 上海市通力律师事务所(以下简称"本所")接受永辉超市股份有限公司(以下简称"公 司")的委托, 指派本所翁晓健律师、赵婧芸律师(以下简称"本所律师")根据《中华人民共 和国公司法》《中华人民共和国证券法》《上市公司股东会规则》等法律法规和规范性文件(以 下统称"法律法规")及《永辉超市股份有限公司章程》(以下简称"公司章程")的规定就 公司 2024 年年度股东大会(以下简称"本次股东大会")相关事宜出具法律意见。 本所律师已经对公司提供的与本次股东大会有关的法律文件及其他文件、资料予以了 核查、验证。在进行核查验证过程中, 公司已向本所保证, 公司提供予本所之文件中的所有 签署、盖章及印章都是真实的, 所有作为正本提交给本所的文件都是真实、准确、完整和有 效的, 且文件材料为副本或复印件的, 其与原件一致和相符。 在本法律意见书中, 本所仅对本次股东大会召集和召开的程序、出席本次股东大会人员 资格和召集人资格及表决程序、表决结果是否符合法律法规和公司章程的规定发表意见, 并 不对本次股东大会所审 ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 证券代码：601933 证券简称：永辉超市 公告编号：2025-030 永辉超市股份有限公司 2024年年度股东大会决议公告 (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由公司董事会召集，公司董事长张轩松先生主持，会议采用现场投票与 网络投票相结合的表决方式，会议的召集、召开及表决方式符合《公司法》及《公 司章程》的规定。 (五)公司董事、监事和董事会秘书的出席情况 二、 议案审议情况 (一)非累积投票议案 1、 议案名称：关于《永辉超市股份有限公司 2024 年度董事会工作报告》的议 案 审议结果：通过 (一)股东大会召开的时间：2025 年 5 月 20 日 一、 会议召开和出席情况 (二)股东大会召开的地点：福建省福州市仓山区闽江大道 202 号三迪华美达广场 酒店 A1 楼福州厅 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 3, ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [9]. Core Views - The company reported a revenue of 67.6 billion yuan for 2024, a year-on-year decline of 14.1%, with a net loss attributable to shareholders of 1.47 billion yuan, which is an increase in loss by 140 million yuan compared to the previous year. The net loss excluding non-recurring items was 2.41 billion yuan, an increase of 430 million yuan year-on-year. For the first quarter of 2025, the revenue was 17.5 billion yuan, down 19.3% year-on-year, with a net profit attributable to shareholders of 150 million yuan, a decline of 80% year-on-year, and a net profit excluding non-recurring items of 140 million yuan, down 77% year-on-year [2][6]. Summary by Sections Financial Performance - In 2024, the company achieved a total revenue of 67.6 billion yuan, with a gross profit margin of 20.5%, a decrease of 0.8 percentage points year-on-year. The sales expenses, management expenses, R&D expenses, and financial expenses accounted for 19.3%, 2.7%, 0.3%, and 1.7% of revenue respectively, with changes of +0.7, +0.3, -0.1, and stable year-on-year. The operating loss for 2024 was 2.56 billion yuan, an increase of 840 million yuan year-on-year [11]. Strategic Focus - The company is committed to a quality retail strategy and is focusing on upgrading its supply chain. It has developed 120 self-owned brand products in 2024, with 20 products achieving annual sales exceeding 50 million yuan. The company aims to collaborate with the supply chain to incubate 100 billion-level products in the future [11]. Future Outlook - The company expects significant improvements in profitability as the results of its store reform initiatives are released over the next 12-18 months. As of April 28, 2025, 62 reform stores have been opened, and the company anticipates that by the end of June 2025, the number of reform stores will exceed 124, with a target of 300 stores before the Lunar New Year in 2026 [11].

Core Insights - Yonghui Supermarket has opened its first self-adjusted store in the Mentougou District, following previous adjustments in other districts of Beijing, enhancing its market presence [1][2] - The store features a unified shelf height of 1.6 meters, removed mandatory traffic flow, and widened aisles, creating a more customer-friendly shopping environment [1] - The product structure has been adjusted to meet public demand, retaining reliable brands and increasing the proportion of freshly made products to approximately 80% of the "Pang Dong Lai" product structure [1] Product Offerings - The store has introduced popular items such as "Pang Dong Lai" spicy beef strips, small sweet sausages, Northeast-style fried meat, and Korean fried chicken in the prepared food section [1] - Baked goods focus on health and taste, featuring products like "Harvest Joy" European bread, finger tiramisu, peach mousse cake, and chocolate temptation cake [1] - A dedicated brand area for "Pang Dong Lai" includes items like DL craft beer, yogurt oat crisps, grape juice, and laundry pods, along with exclusive displays for Yonghui's selected products [1] Service Enhancements - The store has added a pet storage area to address challenges for pet owners, along with a convenience service area equipped with blood pressure and height measurement devices, and free charging stations [2] - Premium seafood in the fish section now offers oxygen cleaning services, while the meat section provides free shredding and grinding services [2] - Fresh-cut fruit management follows a strict "468" freshness policy, with discounts applied based on time since cutting, and perishable items are cleared daily [2] Expansion Plans - Following the opening of the new store, Yonghui has reached a total of 78 adjusted stores nationwide, with plans to exceed 124 by the end of June and aim for 300 by the Lunar New Year in 2026 [2] - Additional adjusted stores are set to open in Tongzhou and Fengtai districts by the end of May, bringing the total number of adjusted stores in Beijing to 8 [2]

中新网南昌5月16日电 (卢梦梦)打卡第一家店、欣赏第一场秀、入手一件首发产品……借助"首店"东 风，因地制宜推动首发经济发展，已成为全国各地撬动商圈消费活力的"流量密码"。 据了解，首发经济是指以创新为核心，通过新品发布、首店开设、首展首秀等形式满足消费者需求的经 济活动。近两年，江西南昌紧抓政策机遇，立足发展实际，大力发展首店、首牌、首秀、首发"四首"经 济，积极吸引知名商贸品牌落户，不断增强城市区域消费辐射带动力和影响力。 图为在江 西南昌青山湖区永辉超市南昌首家"学习胖东来"模式自主调改店内，市民在选购商品。 卢梦梦 摄 图为在江 西南昌青山湖区永辉超市南昌首家"学习胖东来"模式自主调改店内，市民在选购商品。 卢梦梦 摄 在南昌市西湖区，位于朝阳新城的南昌大悦城是江西首个大悦城综合体，其首批进驻品牌名单近日公 布，超40%为区域首店。其中，盒马鲜生全省首家3.0旗舰店，将打造海鲜现制、酒水体验专区等新场 景；BONA博纳国际影城携双巨幕厅首入江西，创新沉浸式观影体验；还将引入哈尼兔、次元波板糖等 品牌华中首店，构建"首店经济"立体化布局。 值得一提的是，江西省日前印发的《江西省引进和培育知名商贸品牌三 ...

Core Viewpoint - The article highlights the efforts of Chinese foreign trade enterprises to pivot towards domestic sales in response to international challenges, emphasizing the importance of integrating domestic and foreign trade to expand market opportunities and support economic stability. Group 1: Market Integration and Support - The Ministry of Commerce initiated the "Foreign Trade Quality Products China Tour" event, resulting in procurement intentions exceeding 16.7 billion yuan, with participation from over 2,400 foreign trade companies and 6,500 buyers [1] - A significant number of foreign trade enterprises, approximately 85%, also engage in domestic sales, with domestic sales accounting for nearly 75% of their total revenue [1] - Major supermarket chains like Yonghui and Hualian have established "green channels" to facilitate the transition of export products to domestic sales, providing tailored support and rapid product placement [2][3] Group 2: E-commerce and Technological Support - E-commerce platforms such as Tencent and Meituan have launched initiatives to assist foreign trade enterprises in entering the domestic market, with Tencent's "New Journey for Foreign Trade" plan and Meituan's measures already engaging over 300 companies [3] - Taobao and Tmall initiated a "Foreign Trade Selection" program aimed at supporting at least 10,000 foreign trade merchants, significantly reducing the time required for new store approvals [3] - The Qingchuang City International Online Wholesale Center has helped over 300 foreign trade companies sell more than 300,000 clothing items since April [4] Group 3: Financial and Cost Reduction Measures - JD.com has committed to a substantial procurement plan, aiming to purchase at least 200 billion yuan worth of export-to-domestic goods over the next year, significantly aiding foreign trade companies [6] - Tencent's "0 deposit trial operation" policy allows foreign trade businesses to list products without upfront costs, further reducing operational expenses [7] - Financial institutions in Fuzhou are providing flexible credit solutions to alleviate the financial pressures faced by foreign trade companies, with a focus on supporting cross-border trade [8] Group 4: Product Innovation and Market Adaptation - Companies like Ningbo Jingshan Shuanglu Battery Co. are leveraging technology and innovation to enhance product competitiveness, with significant investments in R&D and new product development [10] - The shift from foreign trade to domestic sales is seen as a transition from "manufacturing" to "branding," emphasizing the need for quality products to meet domestic consumer demands [11] - Firms are adopting flexible production strategies to respond to the "small orders and quick response" market demand, enhancing their ability to adapt to changing consumer preferences [14][15]

Core Viewpoint - The supermarket industry is facing significant challenges in 2024, with many companies reporting declines in revenue and net profit, indicating a pressing need for transformation and adaptation [1][4]. Revenue and Profit Performance - Among 13 listed supermarket companies, 8 experienced a year-on-year decline in revenue, and 9 saw a drop in net profit, with only 2 companies achieving net profit growth while remaining profitable [1][4]. - Yonghui Supermarket reported the highest revenue at 67.574 billion yuan, down 14.07% year-on-year, with a net loss of 1.465 billion yuan, widening by 10.26% [2][4]. - Lianhua Supermarket's revenue fell by 9.7% to 19.71 billion yuan, with a net loss of 359 million yuan, despite closing underperforming stores [2][4]. - Renrenle Supermarket had the largest revenue decline of 49.86%, with revenue at 1.43 billion yuan due to store closures [2][4]. Strategic Adjustments and Transformations - Supermarket companies are implementing "self-rescue transformations" by closing inefficient stores and reducing loss-making operations to alleviate financial pressure [2][6]. - Companies are focusing on creating differentiated product offerings through optimizing product structures and enhancing product quality to meet diverse consumer demands [3][10]. - The trend of closing underperforming stores is common, with Lianhua Supermarket closing over 400 stores in 2024, while Yonghui Supermarket closed more than 200 [6][8]. Focus on Private Labels and Supply Chain - Developing private labels is a key strategy for supermarkets to differentiate themselves and reduce supply chain costs, with Yonghui aiming for private labels to account for 40% of its total sales in the next three to five years [10][11]. - A robust supply chain is essential for the success of private label strategies, enabling cost advantages and quality assurance through scale procurement and efficient logistics [11]. Future Outlook - The next 12 to 18 months are expected to be critical for supermarkets as they implement reforms and optimize their operations, with Yonghui targeting over 300 remodeled stores by early 2026 [7][8].