Core Viewpoint - The article discusses the recent changes in the board of directors at Yonghui Supermarket, highlighting the unexpected removal of CEO Li Songfeng and the strategic direction under new leadership, particularly focusing on the reform initiatives led by Ye Guofu from Miniso [3][4][6]. Group 1: Board Changes - Yonghui Supermarket held its first extraordinary shareholders' meeting of 2025, primarily to review the board of directors' restructuring [2]. - Six non-independent director candidates were evenly split between Miniso and Yonghui's management, with five candidates, including Chairman Zhang Xuansong, successfully elected, while Li Songfeng was not [3][4]. - Li Songfeng received only 10.49 billion votes, accounting for 20.60% of the valid voting rights, while the other candidates had over 98% support [3]. Group 2: Leadership and Performance - Li Songfeng's tenure as CEO was marked by poor financial performance, with losses of 2.763 billion yuan in 2022 and 1.329 billion yuan in 2023, and a projected loss of 1.4 billion yuan for 2024 [4]. - Zhang Xuanning, a board member, expressed concern over Li's removal, praising his leadership and strategic vision during his time [4]. Group 3: Strategic Initiatives - A reform leadership group has been established to oversee Yonghui's transformation, with Ye Guofu appointed as the group leader [6]. - The reform initiatives will focus on three main areas: organizational restructuring, operational improvements based on the "Pang Donglai model," and supply chain enhancements [7]. - Plans for store adjustments include renovating around 200 stores and closing 250 to 350 stores by 2026 [7].