Core Viewpoint - The closure of three Hema X membership stores in Shanghai is part of a strategic business adjustment by the company, reducing the total number of such stores nationwide to five [1][3][13]. Group 1: Store Closures - Three Hema X membership stores in Shanghai (Dachang, Gaoqing, and Donghongqiao) will cease operations starting April 1, 2025 [1][8]. - After these closures, only two Hema X membership stores will remain in Shanghai, with one each in Beijing, Nanjing, and Suzhou [1][13]. - Members have been notified via messages and notices at the store entrances, and they can continue to order through the Hema app for home delivery [5][9]. Group 2: Business Strategy - The closures are part of Hema's proactive business adjustments, focusing on enhancing online services and maintaining member benefits [3][9]. - Hema plans to continue expanding its Hema Fresh stores, with a target of opening nearly 100 new locations in the upcoming fiscal year [17]. - The CEO has indicated a focus on two core business models: Hema Fresh and Hema NB, aiming for significant growth and profitability [17].