After Miniso "takes over" Yonghui Superstores, the US stock market fell more than 10% in pre-market trading!

Miniso splurges 6.27 billion yuan, winning the position of the largest shareholder of Yonghui Superstores in one fell swoop!

According to Yonghui Superstores' announcement on September 23, on September 23, the company's shareholders Milk Company, JD World Trade, and Suqian Hanbang intend to transfer their respective holdings of 1.913 billion shares, 367 million shares, and 387 million shares to Guangdong Juncai International Trading Co., Ltd. through agreement transfer, accounting for 21.08%, 4.05%, and 4.27% of the total share capital of the company, respectively.

After the completion of this transaction, the company's largest shareholder will change to Juncai International, holding a total of 29.40% of the company's shares. Juncai International and its controlling party Miniso will work together with Yonghui Superstores to transform towards a quality retail model.

After the news was announced, Miniso's US stocks fell more than 10% in pre-market trading. As of the time of writing, Yonghui Superstores has a market value of 20.4 billion yuan.

With the intensifying competition in the retail industry, traditional retailers are facing increasingly severe challenges in transformation.

Faced with declining performance and pressure to close stores, Yonghui Superstores has attempted self-transformation by imitating and learning from successful supermarket models such as membership stores (like Sam's Club, Costco) and Pinduoduo.

However, the transformation has not achieved consistent success nationwide, with some Yonghui Superstores still facing challenges and their performance not meeting expectations.

On August 23, Yonghui Superstores released its 2024 interim report. The report shows that in the first half of 2024, Yonghui achieved operating income of 37.779 billion yuan, a decrease from the same period last year. From January to June 2024, Yonghui Superstores' operating income composition was: retail industry accounted for 93.61%, service industry accounted for 6.39%.

Some analysts believe that as a rapidly globalizing Chinese retail brand, the collaboration between Miniso and Yonghui is expected to create a "Chinese version of Sam's Club"