YONGHUI SUPERSTORES(SH:601933) Zhong Guo Ji Jin Bao·2025-09-19 12:58Core Viewpoint - Wang Shoucheng has been appointed as the new CEO of Yonghui Supermarket, marking a significant leadership change as he is the youngest CEO in the company's history. His promotion is closely tied to his successful management of the company's transformation projects, particularly the "Fat Reform" initiative inspired by the successful model of the Chinese supermarket chain, Pang Donglai [5][6]. Group 1: Leadership Background - Wang Shoucheng is a product of Yonghui Supermarket's internal training program and holds a master's degree from Peking University. Before becoming CEO, he served as the Vice President and was responsible for various operational roles within the company [2][3]. - Wang joined Yonghui in 2017 as a management trainee and has held multiple positions, including CEO business assistant and regional HR partner, accumulating extensive operational and management experience over his 8-year career [3][4]. Group 2: Business Transformation and Performance - The opening of the first "Fat Reform" store in Zhengzhou on June 19, 2024, was a significant milestone, achieving sales of 1.88 million yuan on its first day, which is 13.9 times the average daily sales prior to the reform. The store also attracted over 12,000 customers, 5.3 times the previous average [4]. - As of September 16, 2025, Yonghui has nearly 200 "Fat Reform" stores, with expectations of profitability within three months of operation. The first quarter of 2025 saw 41 "stable reform stores" generating a total profit of 74.72 million yuan [7][8]. Group 3: Financial Strategy and Challenges - Yonghui Supermarket plans to raise up to 3.114 billion yuan through a private placement, with 2.405 billion yuan allocated for store upgrades, 309 million yuan for logistics improvements, and 400 million yuan for working capital [8]. - Despite these initiatives, Yonghui reported a revenue decline of 20.73% year-on-year for the first half of 2025, with a net loss of 241 million yuan, indicating ongoing challenges in balancing significant investment in transformation with overall profitability [8].