董事长张轩松，减持永辉超市丨消费参考

Core Viewpoint - Zhang Xuansong, the chairman of Yonghui Supermarket, plans to reduce his stake in the company by selling up to 90,750,000 shares, which is no more than 1% of the total share capital, due to personal financial needs [1][2]. Company Summary - As of June 30, 2025, Zhang Xuansong and his associates hold a total of 1,274,987,806 shares in Yonghui Supermarket, accounting for 14.05% of the company [2]. - In 2024, Miniso's wholly-owned subsidiary, Jun Cai International, acquired 29.4% of Yonghui Supermarket for 6.27 billion yuan, making Miniso the largest shareholder [3]. - Yonghui Supermarket is undergoing significant adjustments, including the establishment of a reform leadership group led by Miniso's controlling person, Ye Guofu, to accelerate its transformation [3][5]. - The company appointed Wang Shoucheng as CEO on September 18, 2025, indicating a shift in leadership dynamics [3][4]. Financial Performance - In the third quarter, Yonghui Supermarket reported a revenue decline of 25.55% year-on-year to 12.486 billion yuan, with a net loss of 469 million yuan, an increase in losses of 116 million yuan compared to the previous year [6]. - The company attributes the revenue decline to intense industry competition, changing consumer habits, and a decrease in foot traffic and average spending at existing stores [6]. - Yonghui is optimizing its store operations, having remodeled 222 stores by the end of the third quarter, with plans to reach 300 remodeled stores by the 2026 Spring Festival, which is expected to significantly enhance contributions from these stores [6].