Just in: Miniso will become the largest shareholder of Yonghui Supermarket

MINISO will become the largest shareholder of Yonghui Superstores! Retail Circle learned that on the evening of September 23, MINISO announced on the Hong Kong Stock Exchange that it would acquire 29.4% of Yonghui Superstores' equity for 6.27 billion yuan, including 21.1% held by Dairy Farm and 8.3% held by JD.com. After the transaction is completed, MINISO may become the largest shareholder of Yonghui Superstores, further expanding its offline retail business. The total acquisition price of MINISO is 6.27 billion yuan.

Today, MINISO is no longer the "10-yuan store" of the past, but has transformed into a new consumer retail enterprise "driven by design and research and development, and developing online and offline together". Currently, MINISO has entered more than 107 countries and regions and has more than 5,500 stores worldwide.

Why did MINISO target Yonghui Supermarket this time? As we can see, Yonghui is unable to stop the decline of traditional supermarkets. According to its 2024 semi-annual report, Yonghui achieved revenue of 37.779 billion yuan in the first half of the year, a year-on-year decrease of 10.11%; net profit attributable to shareholders of listed companies was 275 million yuan, a year-on-year decrease of 26.34%.

Ye Guofu, chairman of MINISO, discussed the reasons for the acquisition in a conference call held today. He said that China's offline supermarkets are facing a structural opportunity that only comes once every 20 years. MINISO, Sam's Club and Costco are specialty retailers. He was impressed after seeing the first store that Henan Pangdonglai helped Yonghui to renovate. Sales after the renovation were booming. He believes that Pangdonglai is the only way out for China's supermarket retail. Yonghui Supermarket attaches great importance to products, as well as customer experience and employees. Pangdonglai's efficiency per square meter and labor efficiency are also the highest in China's retail companies.