永辉超市，又出利空

Core Viewpoint - Yonghui Supermarket announced a share reduction plan by major shareholder Zhang Xuansong and his associates, intending to sell up to 90,750,000 shares, representing no more than 1% of the company's total share capital due to personal funding needs [1][2]. Group 1: Share Reduction Details - The share reduction will occur through centralized bidding, with a planned reduction period from December 4, 2025, to March 3, 2026 [2]. - The total shares held by Zhang Xuansong and his associates amount to 1,274,987,806 shares, accounting for 14.05% of the company's total share capital [2][3]. - The Shanghai Xishirun Investment Management Co., Ltd. - Xishirun He Run 6 Private Securities Investment Fund holds 169,638,486 shares, which is 1.87% of the total share capital [3]. Group 2: Company Performance - Yonghui Supermarket reported a revenue of 42.434 billion CNY for the first three quarters, a year-on-year decline of 22.21%, with a net loss of 710 million CNY, significantly widening from a loss of 78 million CNY in the previous year [3]. - In Q3, the revenue was 12.486 billion CNY, down 25.55% year-on-year, with a net loss of 469 million CNY, compared to a loss of 353 million CNY in the same period last year [3]. - The company has experienced a continuous decline in revenue for four consecutive years in Q3 and three consecutive years in the first three quarters [3]. Group 3: Store Closures - Yonghui Supermarket plans to close two stores in Shenzhen, located in key commercial areas, as part of its strategy to shut down long-term loss-making stores [4]. - As of September 30, the total number of operating stores was reduced to 450 from 775 at the end of 2024, with 325 stores closed in the current year, including 102 in Q3 alone [4]. - The company is actively pursuing a "close old and renew" strategy, with only two new stores opened during the same period [4]. Group 4: Market Performance - As of November 12, Yonghui Supermarket's stock price fell by 1.9% to 4.65 CNY per share, with a total market capitalization of 42.199 billion CNY [4].