Yonghui news

09 May 2019
Dairy Farm has released its results for the first quarter of 2019, with sales ahead of the same period last year. Food: large formats remain a challenge, convenience strong The Group’s multi-year transformation plan for its Supermarkets and Hypermarkets business is underway, but CEO Ian Mcleod previously estimated it will take the company five years to complete its turnaround plan.  Sales i...
01 May 2019
 JD.com plans to invest CNY6.5bn (US$965.1m) in Thailand over the next three years to strengthen its fresh food business. Offering shoppers more choices In partnership with Yonghui, JD.com plans to import large quantities of durian, mangosteens, coconuts and other fruits from Thailand worth CNY5bn (US$742.4m). JD.com itself will also source an additional CNY1.5bn (US$222.7m) worth of fruits...
29 April 2019
Yonghui has posted another strong set of annual results. Total revenue increased 20.4% to CNY70.5bn (US$10.5bn), with consolidated net profit up 18.5% to CNY1.5bn (US$219.9m). Fastest growing bricks-and-mortar retailer in China Despite increasing competition and the market’s slowdown in growth, Yonghui continues to be the fastest growing bricks-and-mortar retailer in China. To maintain g...
28 February 2019
Dairy Farm has reported its 2018 annual results. Performance of its Health and Beauty segment was strong, but its Food business saw further decline. Annual sales up 4.1% Dairy Farm posted sales growth of 4.1% to US$11.7bn for the fiscal ending. Consolidated sales including joint ventures and associates increased 0.6% to US$21.9bn. During 2018, the retailer sold its Giant hypermarket s...
14 November 2018
Dairy Farm has reported mixed results for Q3, pulled down by challenges in the food division. Strong growth in health and beauty The retailer reported strong sales and profit gains in Hong Kong and Macau. The retailer also saw improvement in its Southeast Asian businesses, especially in Malaysia and Indonesia. Food business profits decline Both sales and profits were down in several m...
25 October 2018
Tencent has partnered ParknShop and Yonghui to launch a new grocery chain ParknShop Yonghui. Valued at US$170m, the joint venture aims to help both Yonghui and ParknShop expand their businesses in China further. A new grocery chain, ParknShop Yonghui  Yonghui will be the largest stakeholder in the new joint venture, investing US$89.5m for a 50% stake. ParknShop will hold a 40% stake with co...
01 August 2018
Yonghui has achieved total revenue of CNY34.3bn (US$5bn), an increase of 21.5% in the first half of 2018. Store expansion driving growth Yonghui continues to report robust results despite increasing challenges raised by online rivals. Network expansion and format development are major drivers of growth for the retailer, as it continues to expand its network across China. Yonghui is mainl...
27 July 2018
Dairy Farm has reported a strong set of results for the six months ended 30 June, with consolidated sales up 6%. Overall performance encouraging Total sales, including associates and joint ventures, were up 17% to US$12.2bn. This was mainly driven by increased sales from Yonghui supermarket in China. Dairy Farm sales increased 8% to US$5.9bn or up 6% at constant rates of exchange, and under...
12 March 2018
Dairy Farm has reported a disappointing set of annual results, mainly attributed to the performance of its supermarkets and hypermarkets in South-east Asia. Annual sales up a modest 1% YoY Sales was up 1% YoY to US$11.3bn while consolidated sales including joint ventures and associates increased 7% to US$21.8bn, reflecting strong sales growth of 17% to US$ 8.6bn at Yonghui. However, net pro...
13 December 2017
Chinese tech giant Tencent Holding Ltd, rival of Alibaba Group,  plans to buy a 5 per cent stake in Yonghui Superstores, making a push into bricks and mortar retail. The investment The investment will be made through Tencent affiliate Linzhi Tencent Technology, will see the firm take a minority 5% stake of Yonghui Superstores and a 15 percent stake in Yonghui’s supply chain and logistics su...