Core Viewpoint - Yonghui Supermarket expects overall revenue in 2025 to be lower than in 2024 due to a significant number of store closures planned for that year [1][2] Group 1: Financial Performance - In the first half of 2023, Yonghui Supermarket reported total revenue of 29.948 billion yuan, a year-on-year decline of 20.73% [4][5] - The net profit attributable to shareholders was -2.41 billion yuan, an increase in loss of 5.16 billion yuan compared to a profit of 2.75 billion yuan in the same period last year [4][5] - The company closed 227 loss-making stores in the first half of 2023, while only 232 stores were closed throughout the entire previous year [4][7] Group 2: Store Closures and Adjustments - Yonghui plans to close 186 supermarkets in the second quarter of 2025 due to operational losses, contract expirations, and equity transfers, with an estimated loss of 8.27 billion yuan from these closures [6] - The company has initiated a transformation plan, aiming to complete adjustments on 200 stores by September 30, 2025, and all stores by 2026 [6][10] Group 3: Strategic Initiatives - Yonghui's financial director stated that the remaining operational stores are expected to see significant year-on-year sales growth in the second half of 2023 due to ongoing transformation efforts [2][3] - The company plans to raise up to 3.992 billion yuan through a targeted stock issuance to optimize its capital structure and fund store upgrades and logistics improvements [3][4] - The transformation project includes upgrading 298 stores using the "Fat Donglai model," focusing on various aspects such as product structure and shopping experience [3] Group 4: Online Business and Shareholder Changes - In the first half of 2023, Yonghui's online business revenue was 5.49 billion yuan, a year-on-year decline of 29.97%, accounting for 18.33% of total revenue [8] - The largest shareholder of Yonghui has changed, with Jun Cai International acquiring 29.4% of the shares for 6.27 billion yuan, making it the largest shareholder [8]

Core Insights - The article highlights the success stories of two entrepreneurs from Henan, Yu Donglai of Pang Donglai and Wang Ning of Pop Mart, showcasing their unique business philosophies and achievements in the retail and toy industries [1][5][12] Group 1: Entrepreneurial Achievements - Pang Donglai's supermarket chain has become a "6A scenic area," emphasizing trust and sincerity in its operations, while Pop Mart has transformed its LABUBU brand into a global IP with a market value exceeding HKD 400 billion, achieving over 400% growth in overseas markets [1][3] - Pop Mart reported a revenue of CNY 13.88 billion in the first half of 2025, marking a year-on-year increase of 204.4%, with overseas revenue accounting for 40% of total sales [3] Group 2: Business Philosophy - Both entrepreneurs embody a long-term strategic vision, rejecting short-term speculation in favor of sustainable growth, with a focus on quality and customer experience [5][6] - Yu Donglai's approach includes closing unprofitable stores to maintain quality, while Wang Ning emphasizes the importance of time and cultural integration in expanding his brand globally [6][8] Group 3: Cultural and Ethical Values - The practices of both entrepreneurs reflect traditional values such as integrity and responsibility, which are integrated into modern business practices, like unconditional return policies and customer rewards [11] - Their success is attributed to a blend of traditional Henan business spirit and modern innovation, showcasing a commitment to social value and community engagement [11][12]

Core Insights - Yonghui Supermarket is expanding its presence in the Shanghai market by implementing the "Fat Donglai model," with three new remodeled stores set to open this month, indicating a deep commitment to the region [1] - The opening of these stores increases the number of "Fat Yonghui" locations in Shanghai to 10, enhancing service coverage across key areas such as Jinshan, Minhang, Pujiang, Qingpu, Baoshan, Fengxian, and Songjiang [1] Store Upgrades - The newly opened stores have undergone a comprehensive upgrade in product structure, with an SKU reduction rate of nearly 80%, while introducing a significant number of high-quality products that meet the Fat Donglai standards [3] - The product structure now aligns with Fat Donglai standards at 80%, with imported goods making up 20% of the offerings, enhancing product quality and catering to consumer demand for high-quality living [3] Specialty Areas - The stores feature a self-owned brand section showcasing dozens of popular items, including essential goods like cooking oil, oatmeal, beer, and juice, bringing the selected quality of Fat Donglai into the daily lives of Shanghai consumers [5] - Seasonal promotions include a "Xinjiang Fruit Feast" and "East Sea Fishing Season Seafood," with an expected procurement of over 10,000 tons of premium Xinjiang fruits and fresh seafood products available in stores [5] Shopping Experience - The shopping environment has been optimized by removing traditional store layouts, lowering shelf heights, and enhancing convenience and safety for customers [7] - The stores adhere to the "468 freshness principle," ensuring that consumers can enjoy the freshest products available [7] Employee Welfare - Yonghui Supermarket has upgraded employee care by enhancing benefits, adding independent rest areas, and providing free nutritious meals, which improves employee satisfaction and service quality for customers [9]

调改与关店并行之下，永辉超市仍然没能走出谷底。 8月20日，永辉超市发布2025年中报。今年上半年，永辉超市实现营收299.48亿元，同比 下降20.73%，归母净亏损2.41亿元；扣非后归母净亏损8.02亿元。 在此之前，永辉超市已经连续亏损四年，总亏损额逾95亿元。虽然亏损额呈现收窄的趋势，但 是这份业绩报告仍让资本市场存在忧虑。 拐点未至 今年上半年，永辉超市未能摆脱亏损的困境。报告期内，永辉超市实现营业总收入299.48亿 元，同比下跌20.73%；归母净亏损为2.41亿元，去年同期净利润则为2.75亿元，净利润减少了 5.16亿元。 永辉超市在财报中针对营收下滑解释称，这是由于公司2024年下半年开启整体战略与经营的深 度转型工作，关闭长期经营亏损门店以及门店调改期歇业等因素所致。虽然调改门店收入较同 期有大幅度增加，但无法弥补因关店产生的收入下降。 至于亏损的原因，永辉超市则归结为整体销售规模的减少、公司商品供应链的改革以及闭店带 来的损失等 。在今年上半年，永辉超市完成了大量供应商及商品的升级汰换，这对毛利率带 来了一定的影响。报告期内，永辉超市综合毛利率为20.80%，较上年同期下降0.78% ...

进一步向上看，集百控股、利群集团、河南大张实业、永旺（中国）以及广州易初莲花位列11至15名。集百控股凭借 旗下的集百生活、华联盈创等品牌，年销售规模达到约120.64亿元，拥有3179家门店，显示出其强大的市场覆盖能 力。 在榜单的前十名中，联华超市、华润万家、家家悦、中百仓储以及钱大妈占据了一席之地。联华超市以世纪联华、联 华、华联等品牌，年销售额达到约486.44亿元，拥有3152家门店。联华超市不仅为社区居民提供日常商品选择，还致 力于打造15分钟便民生活圈，提供便捷的购物服务。 中国连锁经营协会（CCFA）最新数据显示，中国超市Top100企业的销售规模在过去一年中达到了约9000亿元，实现 了0.3%的同比增长，然而门店总数却下滑了9.8%，减少至2.52万个。这一数据反映了超市行业在多元化消费市场和电 商冲击下的转型压力。 在行业变革的背景下，中国超市Top100榜单中的企业表现呈现出明显的分化。据统计，仅有14家企业实现了销售额和 门店数的双重增长，这些企业在激烈的市场竞争中凭借精准的市场定位、创新的经营模式和优质的服务脱颖而出。 在榜单的后半部分，重庆百货、开市客（中国）、天虹数科、胖东来以 ...

中国连锁经营协会（CCFA）最新数据显示，中国超市Top100企业的销售规模在过去一年中达到了约9000亿元，实现 了0.3%的同比增长。然而，门店总数却出现了9.8%的同比下滑，降至2.52万个。这一数据反映了超市行业在多元化消 费市场和电商冲击下所面临的转型挑战。 在Top100榜单中，企业间的表现分化显著。42家企业实现了销售额的正增长，而门店数量增加的企业仅有25家。尤为 值得注意的是，仅有14家企业同时实现了销售额和门店数的双增长。这些企业在激烈的市场竞争中凭借精准的市场定 位、创新的经营策略以及卓越的服务质量脱颖而出。 在榜单的尾端，一些企业通过关闭效益不佳的门店，优化资源配置，降低运营成本，集中精力提升核心门店的服务质 量。例如，胖东来超市以极致的服务著称，年销售额约80.94亿元，拥有12家门店。店内员工热情真诚，提供免费停 车场、母婴室、直饮水等设施，甚至提供宠物寄存服务，这些细节体现了企业对顾客的深切关怀。 榜单的中段，集百控股、利群集团等企业也展现出了不俗的实力。集百控股旗下超市品牌年销售规模约120.64亿元， 拥有3179家门店。这些企业通过稳健的经营策略，实现了销售规模的稳步增长。 ...

今天值得关注的国内外新闻有： 1. 加满一箱油或少花9元，油价有望大幅下跌 2. 金饰克价再破千 3. 长视频难：爱奇艺第二季度净亏损1.337亿元，腾讯会员跌300万 4. 收评：沪指冲高回落涨0.13% 高位股集体大跌 5. OpenAI单月收入突破10亿美元，OpenAI考虑上市 【宏观要闻】 近日，有四川网友通过麻辣社区"群众呼声"提问，非婚生子能否领取育儿补贴？该网友称，"我和娃儿 他爸没扯结婚证，但给娃办了生育登记，也正常用了生育险、领了生育津贴，最近看到深圳那边说没结 婚证就领不到育儿补贴，想问问我们四川的政策是咋个回事"。 8月18日，四川省卫生健康委答复称，育儿补贴的补贴对象为从2025年1月1日起，符合法律法规规定生 育的3周岁以下婴幼儿。关于网友咨询的情形，补办结婚登记手续后可以申领。开放申领时间，请关注 官方信息。 上述网友还就相关情况咨询了成都市卫生健康委员会。在8月12日的答复中，成都市卫健委并未正面给 出回应，仅称"目前，我市正抓紧做好各项准备工作，待四川省育儿补贴实施方案印发后，按照部署， 抓好组织实施，把这项惠民利民的好事做好办实"。（智通财经） 加满一箱油或少花9元，油价有 ...

近期，零售行业的一场深刻反思由《人民日报》对胖东来董事长于东来的访谈引发。于东来在访谈中强调："对人的重视，是我们成功的秘诀。"这一观点 如同一股清流，促使业界重新审视当前零售业的转型核心。 零售业的转型之路并非坦途，但唯有从"人"的本质需求与价值出发，才能真正找到变革的核心逻辑。企业应当重新审视与员工、消费者和合作伙伴的关 系，通过实际行动来建立信任、提升服务、实现共赢。只有这样，才能在激烈的市场竞争中立于不败之地。 在这场零售业的生死变革中，商品、供应链、价格等因素固然重要，但它们只是手段，而非根本。真正的病根在于"人"的关系处理不当。无论是与员工、 消费者还是合作伙伴的关系，都需要从根本上进行调整。 对于员工，许多零售企业仍将其视为"人力成本"，而非"核心资产"。这种轻视导致员工缺乏归属感和认同感，服务水平难以提升。胖东来则通过建立让员 工有尊严、有成长、被信任的机制，让员工真正热爱企业，从而实现了服务的优质输出。企业应当认识到，员工才是企业的"头号顾客"，只有让员工满 意，才能进而让顾客满意。 与消费者的关系也需要从"交易对象"转变为"信赖伙伴"。传统超市往往只关注顾客的购买行为，而忽视了与顾客建立信 ...

Business Strategy and Operations - The company focuses on a tailored approach for its department and supermarket businesses, emphasizing "one store, one policy" to align market image with store positioning [2][3] - The supermarket sector aims to enhance supply chain capabilities and develop high-cost performance private labels, targeting a 40% sales share for self-sourced products [3][4] Performance Metrics - As of mid-2025, the company operates 240 retail stores, including 24 department stores and 189 supermarkets, with a net closure of 20 stores and the opening of 7 [4][6] - The "Harmonious Family" supermarket has seen significant improvements post-renovation, with sales up by 30.3% and customer traffic increasing by 17.97% at the Binhu New District store [4][5] Product Development - The company has developed a private label product matrix with 462 items across various categories, achieving a 99.18% year-on-year sales growth in the first half of 2025 [5][6] - The "Harmonious Family" high-tech store is undergoing a comprehensive upgrade, covering 5,400 square meters and introducing ten themed areas to enhance customer experience [5][6] Financial Performance - The company reported a net profit increase of 33.55% in the first half of 2025, driven by innovative service models and government subsidies totaling 82.4464 million yuan [8][9] - Inventory as of June 2025 stands at 2.403 billion yuan, with a 7.40% decrease from the beginning of the year, while investment properties are valued at 1.805 billion yuan, down 5.94% [9][10] Future Plans - The company anticipates a capital expenditure of approximately 1 billion yuan in 2025, focusing on market projects, store renovations, and new business investments [10][11] - Future growth strategies include enhancing operational efficiency, reducing costs, and expanding into new business areas, including circular economy initiatives and logistics [10][11]

中国超市榜单11-15名：集百控股、利群集团、河南大张实业、永旺（中国）以及广州易初莲花。排在第11的集百控股旗 下超市品牌包括了集百生活、华联盈创，年销售规模约120.64亿，门店数量3179家。 中国超市榜单6-10名：联华超市、华润万家、家家悦、中百仓储以及钱大妈。联华超市排名第6，旗下的超市品牌有世纪 联华、联华、华联，年销售额约486.44亿，门店数量3152家。联华为社区居民提供日常商品选择，服务便捷，是15分钟 便民生活圈的主打力量。世纪联华则提供轻松的购物氛围，一站式购物体验。 | 房号 | 企业名称 | 超市品牌 | 2024销售规模总计 | 销售额同比 | 2024门店总数 | 门店数同比 | 备注 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (含税万元) | (%) | (个) | (%) | | | 1 | 沃尔玛(中国) 投资有限公司 | 沃尔玛、山姆 | 15884490 | 19.6 | 334 | (8.5) | ★ 1 | | 2 | 康成投资(中国)有限公司 | 大润发、大调发Super、M会员店 ...