Core Viewpoint - Yonghui Supermarket is experiencing significant financial challenges, with a notable decline in revenue and net profit due to extensive store adjustments and external risks affecting its stock price [2][11][12]. Financial Performance - In the first three quarters of 2025, Yonghui Supermarket reported revenue of 42.434 billion yuan, a year-on-year decrease of 22.21%, and a net profit loss of 1.502 billion yuan after excluding non-recurring items [11][12]. - The decline in revenue and profit is primarily attributed to the closure of over 325 stores, reducing the total number of operating stores from a peak of 1,000 to 450 [11][12]. Market Reaction - Investors anticipated continued losses for Yonghui Supermarket in 2025, viewing the situation as expected given the significant losses reported in the third quarter [12]. - The company's stock price has fallen from nearly 7 yuan at the end of 2024 to around 5 yuan, influenced by concerns over cash flow and a contract dispute involving the chairman [12] . Store Adjustment and Improvement - As of the end of the third quarter of 2025, Yonghui has completed approximately 50% of its store adjustments, with adjusted stores showing an average customer traffic increase of over 80% and some stores returning to profitability [2][13]. - The company aims to complete adjustments for all stores by June 2026, with a target of over 300 adjusted stores before the 2026 Spring Festival [13]. Strategic Initiatives - Yonghui Supermarket has been implementing the "Fat Donglai" model since May 2024, focusing on supply chain transformation, customer experience enhancement, and organizational culture restructuring [13][14]. - The first store adopting this model opened in Chengdu in October 2024, emphasizing employee and customer happiness [14].

天眼查工商信息显示，永辉超市股份有限公司成立于2001年4月，法定代表人为张轩松，注册资本约 90.75亿人民币，经营范围含农副产品、水产品、粮油及制品、食品饮料、酒及其他副食品等的零售和 批发，以及提供相关的配套服务，零售和批发预包装食品、散装食品、保健食品等。股东信息显示，该 公司由广东骏才国际商贸有限公司、张轩松、张轩宁、林芝腾讯科技有限公司等共同持股。对外投资信 息显示，该公司直接持股80余家企业，其中65家为存续或开业状态，包括福建华通银行股份有限公司、 永辉云创科技有限公司、永辉彩食鲜发展有限公司等。值得一提的是，该公司已申请注册多枚"胖永 辉"、"胖小辉"商标，当前多枚"胖永辉"商标已注册成功。 据媒体报道，1月12日盘后，永辉超市（601933）发布2025年度业绩预亏公告，预计归属于上市公司股 东的净利润为负。至此，公司将连续第五个财年出现亏损。此时距离其全面启动学习"胖东来"模式已过 去约20个月。 ...

在昆明市持续推进促消费、扩内需，着力激发市场活力、优化消费环境的政策背景下，本地零售市场迎来新一轮品质升级热潮。继全国多地永辉超市开 展"学习胖东来"式调改并取得积极市场反响后，12月12日，永辉超市在昆明市场的又一重要布局——呈贡吾悦店，经过全面调改后正式焕新开业。 同时，门店大幅提升了现制现售商品占比，烘焙与熟食区域面积占比从5%跃升至13%。网红意式丹麦香肠卷、添加了满满核桃与乳酪的"核桃满满"面包， 以及本地特色的傣味鸡爪、秘卤肉肠等，共同营造出诱人的卖场"烟火气"。 为满足消费者对高质价比品牌商品的追求，门店专门设立了胖东来自有品牌专区，引入了包括DL啤酒、自由·爱白酒、DL果汁、DL燕麦片等70余款人气商 品。同时，永辉自有品牌"品质永辉"系列也强势亮相，例如品质永辉头道特级生抽，仅萃取第一道原汁，采用传统工艺足期发酵，实现特级品质与减盐健 康；YONGHUI东北长粒香大米产自黄金水稻带，以产地优势保障米粒饱满、口感香甜，持续赢得消费者信赖。 该店位于昆明市呈贡区吾悦广场购物中心负一楼，经营面积近2400平方米，是永辉在昆明的第四家"胖改店"，此番调改旨在深度对接春城市民对美好生活和 高品质消费的 ...

【#永辉超市连续三天涨停#】#永辉超市发股票交易风险提示公告# 12月10日，永辉超市股价再次涨 停，收获三连板，当天收报5.23元/股，涨10.11%，最新市值474.62亿元。 当天，永辉超市发布股票交易风险提示公告，公司股票于2025年12月8日、12月9日连续两个交易日内日 收盘价格涨幅偏离值累计达到20%，属于股票交易异常波动的情形。公司已于2025年12月10日披露《永 辉超市股份有限公司股票交易异常波动公告》。12月10日，公司股票再次涨停，公司股票交易价格短期 涨幅较大。 证券简称:永辉超市 公告编号:2025-069 证券代码:601933 永辉超市股份有限公司 鉴于公司股票自2025年12月8日起已连续3个交易日以涨停价收盘，存在市场情绪过热情形及较高的炒作 风险，可能存在短期涨幅较大后的大幅下跌风险。敬请广大投资者注意二级市场交易风险，理性决策， 审慎投资。 经公司自查，截至本公告日，公司目前生产经营活动正常，门店调改稳步有序进行中，内外部经营环境 未发生重大变化，不存在应披露而未披露的重大事项。（界面） IU. II %, 取 町 [ ] 1 . 0 / 1 . 0 / 1 . 0 当 ...

12月10日，永辉超市股价再度涨停，收获三连板，截至收盘，报5.23元，最新总市值475亿元。 12月10日晚间，永辉超市发布股票交易风险提示公告称，公司股票在12月8日、9日连续两个交易日收盘价格涨幅偏离值累计达到20%。12月10日，公司股 票再次涨停，公司股票交易价格短期涨幅较大。 永辉超市表示，经公司自查，截至本公告日，公司目前生产经营活动正常，门店调改稳步有序进行中，内外部经营环境未发生重大变化，不存在应披露而 未披露的重大事项。 此外，鉴于近期公司股票交易价格涨幅较大，存在市场情绪过热情形及较高的炒作风险，可能存在短期涨幅较大后的大幅下跌风险，公司郑重提醒广大投 资者注意二级市场交易风险，理性决策，审慎投资。 12月8日，永辉超市发布关于持股5%以上股东的一致行动人集中竞价减持股份结果。公告显示，公司控股股东、董事、董事长张轩松先生的一致行动人 ——上海喜世润投资管理有限公司－喜世润合润6号私募证券投资基金（以下简称"合润6号基金"）已完成此前披露的集中竞价减持计划，合计减持公司股 份9075万股，套现金额约3.77亿元。 本次减持后，张轩松及其一致行动人合计持股数量降至11.84亿股（减持前12 ...

Core Viewpoint - Yonghui Supermarket is closing two stores in Shenzhen's core business districts due to poor management and operational issues, with a focus on restructuring and improving service quality in the future [1][5][7]. Store Closure Details - Yonghui Supermarket's stores at Luohu Sun Plaza and Nanshan Raffles City will officially cease operations on November 16, 2025, with clearance sales starting from November 7 to 15, 2025 [1][3][5]. - The stores have already begun clearance sales with discounts up to 50% prior to the official announcement [3]. Management Acknowledgment - The company acknowledged its previous management shortcomings, stating it failed to provide satisfactory products and services, and expressed a commitment to improve [3][7]. - The management has recognized the need for a comprehensive overhaul of its operational strategies, including store layout, product structure, and employee welfare [7][8]. Financial Performance - Yonghui Supermarket reported a revenue of 42.434 billion yuan for the first three quarters of 2025, a year-on-year decline of 22.21%, and a net loss of 710 million yuan, down over 80% compared to the previous year [10][12]. - The company has closed a total of 325 stores as of the end of Q3 2025, with 102 closures occurring in Q3 alone, indicating a continued strategy of "closing old stores to renovate new ones" [13]. Future Plans - Starting in 2024, Yonghui Supermarket plans to implement a nationwide restructuring initiative aimed at regaining customer trust and improving operational efficiency over the next 2 to 3 years [12]. - The company has adopted a new retail strategy inspired by the "胖东来" model, with 222 stores already undergoing transformation as of September 30, 2025 [12].

Core Points - YH Supermarket received a warning letter from the Sichuan Securities Regulatory Bureau for failing to timely disclose changes in equity after reducing its stake in Hongqi Chain [2][5] - The company appointed a new CEO, Wang Shoucheng, on September 18, 2023, following a management restructuring after Miniso became the largest shareholder [3] - YH Supermarket's revenue decreased by 20.73% year-on-year in the first half of the year due to strategic transformation and the closure of loss-making stores [4] Group 1: Regulatory Issues - YH Supermarket acquired over 5% of Hongqi Chain shares in 2017 and reduced its stake from 11% to 10% between April 21 and April 24, 2025, without timely disclosure [2] - The company acknowledged the issues raised in the warning letter and committed to improving compliance and information disclosure practices [2] Group 2: Management Changes - Wang Shoucheng, born in April 1991 and a graduate of Peking University, was appointed as CEO after a period of vacancy [3] - The management restructuring was part of a broader reform initiative led by Miniso's founder, Ye Guofu [3] Group 3: Financial Performance - YH Supermarket's revenue decline was attributed to the deep transformation strategy initiated in the second half of 2024, including the closure of underperforming stores [4] - Despite an increase in revenue from remodeled stores, it was insufficient to offset the losses from closed locations [4]