On September 29th, Red Star Capital Bureau reported that Yonghui Supermarket (601933. SH) released a statement on its Sina Weibo account titled "Explanation on the Equity Change of Yonghui Supermarket Co., Ltd.", emphasizing that the equity ratio of its founder and chairman, Mr. Zhang Xuansong, has not changed and that Pangdonglai will continue to assist Yonghui Supermarket in its adjustment.
Explanation on the Equity Change of Yonghui Supermarket Co., Ltd. Source: Yonghui Weibo
The equity change of Yonghui Supermarket this time refers to the announcement on the evening of September 23 that Miniso (09896.HK; MNSO.US) will acquire 29.4% of Yonghui Supermarket's equity for 6.27 billion yuan. If the transaction is completed, Miniso will become the largest shareholder of Yonghui Supermarket.
Subsequently, there were rumors in the market that "Boss Yonghui sold the company and ran away".
Regarding this, Yonghui Supermarket emphasized that the transaction occurred between Milk Company, Suqian Hanbang, JD World Trade, and Juncai International, and the equity ratio of the founder and chairman, Mr. Zhang Xuansong, has not changed in any way. After the completion of this transaction, the largest shareholder of the company will be changed to Guangdong Juncai International Trading Co., Ltd. (referred to as "Juncai International"), holding a total of 29.40% of the company's shares. The original shareholders, Milk Co., Ltd. (referred to as "Milk Company") and Suqian Hanbang Investment Management Co., Ltd. (referred to as "Suqian Hanbang"), will no longer hold shares in Yonghui Supermarket. Beijing JD Century Trading Co., Ltd. (referred to as "JD World Trade") will change its shareholding ratio from 6.98% to 2.94%. Juncai International and its actual prosecution, Miniso, will work together with Yonghui Supermarket to create a quality and happy business model.
Three days after the acquisition announcement, on September 26th, Yu Donglai, the chairman of Pangdonglai, responded on social media in the early hours of the morning, stating that the action to assist enterprises, support joint business student enterprises, and Yonghui BBK will continue for about two years, and these enterprises can basically make adjustments on their own. In order to ensure the normal work and life of Pangdonglai employees, Pangdonglai will no longer send teams to provide assistance to new enterprises.
Yonghui Supermarket also responded that currently, Yonghui Supermarket is carrying out comprehensive adjustments to some stores in the first 10 cities across the country in terms of product structure, quality and price, store layout and flow, environment, service, and employee benefits, while helping and learning from the dual line transformation of Pangdong. Next, Yonghui Supermarket will continue to learn from Pangdonglai, and Pangdonglai will also continue to assist Yonghui Supermarket in adjusting and striving to achieve its healthy operation goals.
Yonghui Supermarket also stated that it reserves the right to hold accountable those who engage in illegal activities such as reprinting, excerpting, or maliciously editing.
Red Star News reporter Cheng Luyang
