永辉“胖改”近半却亏超7亿，董事长拟套现4亿离场

Core Viewpoint - Major shareholder Zhang Xuansong and his associated entity plan to reduce their stake in Yonghui Supermarket due to personal funding needs, which may impact the company's stock performance in the near term [1][2]. Shareholder Reduction Plan - The shareholder, Shanghai Xishirun Investment Management Co., Ltd. - Xishirun Helun No. 6 Private Securities Investment Fund, intends to reduce up to 90.75 million shares, representing a maximum of 1% of the total shares [2]. - The reduction will occur through centralized bidding over a three-month period starting fifteen trading days after the announcement [1][2]. - If the reduction is fully executed, 53% of the shares held by the fund will be sold [2]. Recent Stock Performance - Following the announcement, Yonghui Supermarket's stock opened lower, closing at 4.61 yuan, which could yield approximately 418 million yuan in profit for the shareholder if the reduction is completed at this price [2]. - The last personal reduction by Zhang Xuansong occurred in March 2023, where he sold 90.48 million shares at an average price of 3.32 yuan, totaling over 300 million yuan [3]. Company Transformation and Market Response - Yonghui Supermarket has initiated a transformation inspired by "Learning from Pang Donglai," with 450 stores nationwide and 222 stores already undergoing transformation as of September 30 [5]. - Despite the transformation efforts, the company has faced challenges, including the closure of underperforming stores, leading to a decline in both revenue and profit [6]. - For the first three quarters of the year, Yonghui reported revenue of 42.434 billion yuan, a year-on-year decrease of 22.21%, and a net loss of 710 million yuan, significantly worsening from a net loss of 78 million yuan in the same period last year [8]. Future Outlook - Market analysts are focused on when the transformation will yield tangible improvements in performance, with expectations that Yonghui may begin to recover from its reform challenges between 2026 and 2027 [8].