YONGHUI SUPERSTORES(SH:601933) Mei Ri Jing Ji Xin Wen·2025-08-20 15:30Core Viewpoint - Yonghui Supermarket reported a significant decline in revenue and a net loss for the first half of 2025, primarily due to strategic transformations and store closures [1][3]. Financial Performance - The company achieved a revenue of 29.948 billion yuan in the first half of 2025, a decrease of 20.73% compared to the same period last year [2]. - The net profit attributable to shareholders was a loss of 240.57 million yuan, compared to a profit of 275.31 million yuan in the previous year [2]. - The total profit was reported as a loss of 207.06 million yuan, with a significant drop in cash flow from operating activities, down 58.92% to 1.208 billion yuan [2][3]. - The company's total assets decreased by 20.55% to 33.963 billion yuan, and net assets fell by 6.07% to 4.170 billion yuan [2]. Strategic Changes - The revenue decline is attributed to the company's deep strategic transformation initiated in the second half of 2024, which included closing long-term loss-making stores and undergoing store renovations [2][3]. - During the reporting period, 227 loss-making stores were closed, incurring costs related to leases, employee compensation, and asset write-offs [3]. - The company is focusing on a comprehensive restructuring of its supply chain and customer experience, inspired by the "Fat Donglai model" [3][10]. Online Business Development - Online business revenue reached 5.49 billion yuan, accounting for 18.33% of total revenue, with a reduction in losses compared to the previous year [4]. - The self-operated home delivery service generated sales of 3.14 billion yuan, with a daily average of 216,000 orders and a monthly repurchase rate of 56.3% [4]. Store Network Expansion - The company opened 4 new stores during the reporting period, increasing its total to 552 stores across 26 provinces and municipalities [4]. - As of June 30, 2025, 124 stores had undergone renovations, with plans to further enhance the store network [4][10]. Future Plans - Yonghui Supermarket aims to incubate 100 billion-level products over the next three years and will focus on selecting 200 core suppliers [10]. - The company plans to continue its transformation efforts, with an expected 200 renovated stores by the end of 2025 [10].