盒马首次实现全年盈利，将新开近100家「盒马鲜生」大店｜36氪独家

Core Insights - Hema has achieved its first annual profit by March 2025, marking a significant milestone in its operational journey [4] - The new CEO, Yan Xiaolei, has implemented a series of reforms focusing on core business strategies, particularly Hema Fresh and Hema NB supermarkets [5][6] - Hema aims to expand aggressively, planning to open nearly 100 new stores in the upcoming fiscal year, with a focus on second and third-tier cities [6][7] Business Strategy - The restructuring of Hema's operations includes four main divisions: operations, online operations, procurement, and logistics, all reporting directly to the CEO [4] - The focus on Hema Fresh and Hema NB is intended to create complementary advantages, while the Hema X membership stores are being reduced [5] - Hema has opened 72 new stores in the past year, surpassing Walmart China in total store count, with plans for further expansion [5][6] Market Expansion - Hema's new store openings are strategically targeting lower-tier cities, with one-third of new locations in second and third-tier cities and counties [6] - The company is also making inroads into northern cities, with a new store opening in Tianjin as a key expansion point [6] - Hema has revamped nearly half of its Hema Fresh stores to enhance user experience and has reintroduced front warehouses to improve delivery efficiency [6] Product Development - Hema is developing differentiated product lines for its various business models, with a significant focus on private label brands, particularly in the health sector [6] - The proportion of Hema's private label products has reached approximately 35% [6] Competitive Landscape - Despite being a pioneer in instant retail, Hema faces intense competition from both domestic and international players, including Sam's Club and Yonghui [8] - The successful achievement of its first annual profit may bolster Alibaba Group's confidence in Hema's future growth potential [8]