永辉超市上海11家门店完成“胖改”，初步实现区域整体盈利

Core Insights - Yonghui Supermarket has officially resumed operations at its Shanghai Fengxian Jin Hui Longhu store, marking the completion of its quality retail upgrade strategy in Shanghai [1] - The company has achieved initial profitability in its stabilized reform stores in Shanghai after three months of operation, with similar results in Suzhou and Wujiang [1] - Yonghui plans to expand its "Shanghai model" to other regions in the Yangtze River Delta, aiming for a regional development pattern centered around Shanghai [1] Financial Performance - In the first half of the year, Yonghui Supermarket reported total revenue of 29.948 billion yuan, a year-on-year decline of 20.73%, and a net loss of 241 million yuan, an increase in losses by 516 million yuan compared to the previous year [1][2] - The revenue decline is attributed to the closure of 227 loss-making stores, despite significant revenue increases from reform stores [2] - The company has initiated a fundraising plan to raise up to 3.992 billion yuan, with over 3.2 billion yuan allocated for the upgrade of 298 stores under the "Pang Donglai model" [2] Store Reform Progress - As of late August, Yonghui has completed reforms in 162 stores nationwide, with a total of 552 operating stores [3] - The company has adjusted its fundraising target down to 3.114 billion yuan and reduced the number of stores to be reformed to 216, with the remaining funding to be supplemented by its own resources [2]