YONGHUI SUPERSTORES(SH:601933) Zheng Quan Zhi Xing·2025-09-01 16:27Core Viewpoint - Yonghui Supermarket Co., Ltd. plans to issue A-shares to specific investors to raise funds for store upgrades and logistics improvements, aligning with its strategic transformation towards "quality retail" [9][10]. Group 1: Issuance Overview - The total amount to be raised from the issuance is capped at 311,386.04 million RMB, with the net proceeds allocated to various projects [15][18]. - The issuance will involve no more than 35 specific investors, including securities investment funds, securities companies, and qualified foreign institutional investors [10][12]. - The final issuance price will be determined based on the average trading price of the company's shares over the 20 trading days prior to the pricing date, with a minimum price set at 80% of this average [12][13]. Group 2: Purpose and Use of Funds - The funds raised will primarily be used for upgrading 216 stores and enhancing logistics capabilities, which are crucial for the company's strategic direction [18][24]. - The store upgrade project aims to implement the "Pang Donglai model" to improve market image and service quality, thereby increasing customer satisfaction and sales [19][20]. - The logistics upgrade project will enhance the company's supply chain capabilities by introducing advanced automation and smart warehousing systems [25][26]. Group 3: Strategic Context - The retail industry is facing intensified competition, prompting companies like Yonghui to adapt by enhancing customer experience and product quality [9][10]. - The company has already completed upgrades in 31 stores, resulting in significant increases in customer traffic and sales [19][23]. - National policies are increasingly supportive of retail transformation, providing a favorable environment for projects aimed at improving service quality and operational efficiency [29][30].