Core Viewpoint - The last Hema X membership store in Shanghai, Senlan Shangdu, is set to close on August 31, marking the end of Hema X membership stores nationwide, following a series of closures since 2023 [15][17]. Group 1: Store Closure Details - The Senlan Shangdu store has already begun closing preparations, with most areas empty and some staff working on final arrangements [1][2]. - Remaining products are being sold at significant discounts, with prices slashed to between 10% and 30% of their original prices, attracting customers looking for bargains [4][6]. - Popular items include MAX brand T-shirts, which have seen a price drop from 99 yuan to 19.35 yuan for a pack of three, averaging 6.45 yuan per shirt [7][9]. Group 2: Business Strategy and Adjustments - The closure of Hema X stores is part of a broader business adjustment by Hema, focusing on the development of "Hema Fresh" and "Hema NB" as core business models [17][19]. - Hema's strategy shift aims to respond to market competition and refocus on profitable business operations, moving away from the membership model that has proven less sustainable [17][19]. - Despite the closure of Hema X stores, consumers will still have access to MAX products through the "Yunxianghui" online platform, ensuring continued availability of these items [19].