Core Viewpoint - The article discusses the ongoing power struggle and management changes at Yonghui Supermarket, particularly focusing on Ye Guofu's acquisition and reform plans after becoming the largest shareholder, while highlighting the challenges faced by both Yonghui and Miniso in the retail sector [1][6][28]. Group 1: Management Changes and Power Struggle - Ye Guofu was nominated to the board of Yonghui Supermarket, while former CEO Li Songfeng was ousted, leading to concerns about the lack of a clear CEO arrangement [2][3][15]. - Yonghui's ownership structure lacks a single controlling entity, which has contributed to the internal power struggle [4][5][10]. - The board's composition has shifted, with Miniso's influence growing, as they now hold three out of six non-independent director seats [14][21]. Group 2: Financial Performance and Challenges - Yonghui Supermarket is facing significant financial difficulties, with an expected loss of 1.4 billion yuan for 2024 and a high debt ratio of 87.06% [6][24]. - Despite the implementation of the "Fat Donglai model" and store renovations, the financial results have not yet reflected the improvements, as the company continues to close underperforming stores [7][25][28]. - Miniso's acquisition of a 29.4% stake in Yonghui for 6.27 billion yuan was the largest single acquisition in China's retail sector in recent years, but it has led to cash flow concerns for Miniso [6][26][28]. Group 3: Reform Plans and Future Strategies - Ye Guofu has proposed a significant reform plan for Yonghui, including the renovation of approximately 200 stores and the closure of 250-350 stores by 2026 [7][23]. - The reform strategy aims to enhance efficiency and reduce costs through a "three increases and two decreases" approach, focusing on improving employee productivity, performance, and gross profit while lowering costs and expenses [23][25]. - Collaboration between Miniso and Yonghui is expected in areas such as private label development and supply chain design, although specific measures have yet to be disclosed [25][26].