Yonghui Supermarket Co., Ltd. (601933)

Yonghui Supermarket Co., Ltd. (601933)

Yonghui supermarket [601933], whose full name is Yonghui Supermarket Co., Ltd., is located in No.5 yard, Guangrong Road, Hutou street, Gulou District, Fuzhou City, Fujian Province. Its main business is retail chain operation.

Key point 1: fund heavy position plate, e-commerce concept plate, Shanghai Stock connect plate, securities fund holding plate, Fuzhou new area plate, Shanghai Stock Exchange 180_ Plate, Fujian plate, commercial department store plate, HS300_ Plate, social security heavy position plate, margin trading plate.

Key point 2: business scope Agricultural and sideline products, grain and oil products, food and beverage, wine and other non-staple food, daily necessities, household appliances and electronic products, communication equipment, needle textiles, clothing, cultural and sports goods and equipment, audio-visual products, publications and electronic publications, jewelry, gold and silver jewelry, auto and motorcycle parts, automobile decoration, fire-fighting equipment, handicrafts, hardware and electrical equipment, and instruments Retail and wholesale of watches, hardware furniture and interior decoration materials, flowers, toys, etc., and provide relevant supporting services; retail and wholesale of prepackaged food, bulk food, health food, dairy products (including infant formula milk powder), retail cigarettes (limited to branches to carry out business activities within the period and scope permitted by the industry); To organize the processing of some self operated commodities and the purchase of agricultural and sideline products; to rent part of the market facilities or sublet part of the market sites to the sub tenants to engage in legal operation (all the above projects are operated by separate branches, and those involving licensed operation projects can only be operated after obtaining the permission of the relevant departments); to conduct information consultation (except for securities, futures, financial and other industry consultation); and; To engage in commercial activities in the form of franchise; to import self operated commodities and to purchase domestic products for export (the import and export of the above commodities do not involve state-owned trade, import and export quota license, export quota bidding, export license and other special management commodities).

Point 3: fresh agricultural products management company is a commercial retail enterprise mainly engaged in fresh agricultural products, supplemented by daily necessities, clothing, shoes and hats. The company takes fresh agricultural products as its own characteristics. With its strong operation and management ability of fresh products, the company can achieve rapid turnover of fresh products and attract a large number of customers at the same time of high profits, so as to drive the sales of clothing, daily necessities and other products. The company plans to have more than 250 stores nationwide in 2011, and strive to have more than 350 stores nationwide by 2014, with annual sales of 50 billion yuan, ranking among the forefront of Chinese chain enterprises and becoming a famous Listed Retail Enterprise in China.

Key point 4: private placement - 5.7 billion yuan overseas war investment company disclosed the plan of private placement on August 11, 2014. The company plans to issue 813.105 million shares to the dairy farm company, Limited (milk Co., Ltd.) in a non-public manner, with the issue price of RMB 7.00/share, and the total amount of funds raised does not exceed RMB 5.692 billion yuan. The net amount of funds raised after deducting the issuance expenses is used to supplement the working capital. According to reports, the company's foreign strategic investor milk Co., Ltd. is a wholly-owned subsidiary of milk international. Milk international is a leading Pan Asian retail enterprise. By the end of 2013, it had more than 5800 stores. Its brands include Huikang, 7-11 convenience store, Wanning, IKEA, etc., and it has about 100000 employees. It has advanced experience in retail operation, corporate governance and internal control management.

Key point 5: private placement (adjusted in March 2013) in March 2013, the company plans to issue 91417820 shares to Mr. Zhang xuansong, Shanghai sugar tobacco and wine (Group) Co., Ltd. and langyuan Co., Ltd. at a price of no less than 11.11 yuan / share. The total amount of funds raised is 1015652000 yuan, which will be used to supplement the working capital. The private placement will accelerate the development of the company's chain stores, promote the construction of logistics platform and improve the efficiency of information system.

Key point 6: four regions In the future, the company will take Fujian Province, Chongqing City, Beijing city and Anhui Province as the core markets of the Economic Zone on the west side of the Straits, Chengdu Chongqing Economic Zone, Beijing Tianjin Hebei metropolitan economic circle and Pan Yangtze River Delta economic zone respectively. On the premise of strengthening and consolidating the core markets, the company will expand and penetrate the surrounding markets of the four regions, and gradually develop into a national supermarket enterprise.

Key point 7: the number of stores was disclosed in the 2010 annual report. By the end of December, the company had signed about 80 stores in nine regions, including Fujian, Chongqing, Beijing, Tianjin, Anhui, Jiangsu, Henan, Guizhou and Sichuan, with an average area of 9000 square meters. In 2010, 40 new stores were opened (including 24 fund-raising projects) and 6 were closed. At the end of the year, 156 stores were opened, with a total operating area of 1.05 million square meters. As of the end of March 2011, the company has opened 159 stores, and signed a total of 91 projects without opening stores.

Key point 8: the fund raised by the new store company is planned to invest in four projects, including the development of chain supermarkets, the processing and distribution center of agricultural products, the upgrading and transformation of information system, and the enterprise training center. The total investment of the chain supermarket development project is 1597.88 million yuan, including 73 stores, including 72 rental stores (23 in Fujian, 30 in Chongqing, 9 in Beijing, 9 in Anhui and 1 in Guizhou), 1 self built store (Minhou Life Center), and a new supermarket rental area of 581008 square meters. It is preliminarily estimated that the financial internal rate of return of the project is 27.82%, the investment payback period is 5.22 years (after tax, including the construction period), and the financial net present value is 117.3128 million yuan.

Key point 9: the business model of the company is praised by seven ministries and commissions of the State Council as a model of China's "agricultural reform" promotion. It is also one of the first batch of circulation and agricultural industrialization enterprises in China to introduce fresh agricultural products into modern supermarkets. The mode of the company's "agricultural reform to supermarket" can be roughly divided into three modes: "new alternative fresh supermarket near the original farmers' market", "original construction of the original farmers' market" and "new fresh supermarket". Note: "the agricultural reform to supermarket" refers to the transformation of the traditional agricultural market which does not meet the requirements of urban construction and residents' consumption according to the business format and business philosophy of the supermarket through the encouragement and support of government policies.

Key point 10: the channel company of agricultural products supermarket combines the characteristics of traditional agricultural market and modern supermarket. It not only has the price advantage of agricultural market and fresh products with complete categories, but also brings the comfortable shopping environment and one-stop shopping experience of modern supermarket. Fresh agricultural products in developed countries are mainly sold through chain supermarkets and food stores. 90% of agricultural products in the United States and Germany are sold through such terminals, and 70% of agricultural products in Japan are sold through such channels. In China, the proportion of agricultural products sold through supermarket channels is about 30%, and about 70% of agricultural products are sold to consumers through traditional farmers' markets. Supermarket enterprises with fresh food characteristics have a relatively broad space for development.

Key point 11: shareholder return planning in June 2012, the company formulated dividend return planning for the next three years (2012-2014). In the next three years, the company can distribute dividends in the form of cash, stock or a combination of cash and stock. On the premise of meeting the conditions of dividend distribution, the company distributes profits to shareholders once a year in principle. If conditions permit, the board of directors of the company may propose Interim Cash Dividends according to the company's profitability and capital demand. The accumulated profits distributed in cash in the last three years shall not be less than 30% of the average annual distributable profits realized in the last three years.

Key point 12: signing a major agreement in May 2014, the company and new hope Liuhe Co., Ltd. (hereinafter referred to as "new hope Liuhe") signed a strategic cooperation framework agreement on livestock and poultry products on May 28, and reached an agreement on the establishment of a direct product supply system, product collaborative R & D mechanism, information sharing mechanism and cooperation communication mechanism. The company said that the strategic cooperation aims to establish an effective green direct channel to provide consumers with safe, healthy, high-quality and low-cost livestock and poultry products, work together to create a win-win business cooperation mode, strengthen consumer retail competitiveness and respond to public concerns about food safety. On the basis of strategic cooperation, the two sides will further establish a dual brand sales mode and explore OEM mode to enhance brand awareness, brand marketing, maintenance awareness and investment; they will also establish a product R & D coordination mechanism based on their respective strengths in their respective fields to jointly develop and customize market segments for consumers. According to the agreement, the two sides confirmed that in the first stage of cooperation, new hope Liuhe and some advantageous categories will be selected to connect with the stores of Yonghui supermarket in Fujian and West China, and the company's own logistics bases in the above regions will provide supporting distribution services.

Point 13: voluntarily lock up the controlling shareholders of the joint stock company, Zhang xuansong and Zhang Xuanning promise that they will not transfer or entrust others to manage the issued shares of the company directly or indirectly held before the IPO within 36 months from the date of listing of the company's shares, nor will they be repurchased by the company. After the expiration of the lock-in period, the number of shares transferred each year during the term of office shall not exceed 25% of the company's shares held by him, and the company's shares held by him shall not be transferred within 6 months after his resignation. Huiyin investment, Minsheng supermarket, Zheng Wenbao, ye Xingzhen, Xie Xiangzhen, Huang Jiyu, Zheng Jingwang, Lin Dengxiu, Zhang Tianyun and Zhang Zhilong, the shareholders of the company, promise that they will not transfer or entrust others to manage the issued shares of the company directly or indirectly held by them before the initial public offering, nor will the company buy back the shares held by them within 12 months from the date of listing.

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