JD.com reduces its stake in Yonghui Supermarket and expects to cash out more than 200 million yuan

According to news from this site on March 22, Yonghui Supermarket Co., Ltd. issued an announcement on March 20 regarding the plan for shareholders to reduce their shareholdings. The announcement shows that Suqian Hanbang Investment Management Co., Ltd. plans to reduce its holdings of Yonghui Supermarket shares to no more than 90,750,300 shares through centralized bidding transactions, accounting for no more than 1% of the total share capital.

This site inquires and learns that Suqian Hanbang Investment Management Co., Ltd. was established on January 27, 2016. It is owned by Shanghai Sheng, a subsidiary of JD.com. Dayuan Information Technology Co., Ltd. holds 100% of the shares. The company holds a total of 478,523,104 shares of Yonghui Supermarket, accounting for 5.27% of the total share capital. The reduction is expected to be carried out at market price within three months after 15 trading days from the date of the announcement.

On March 21, Yonghui Supermarket fell 4.71%. As of the close, the company's share price was 2.43 yuan, with a total market value of 22.05 billion yuan. Based on the closing price on that day, JD.com is expected to cash out a total of about 220 million yuan after the reduction of holdings is completed.

Public information shows that from 2020 to 2022, Yonghui Supermarket achieved net profits attributable to the parent company of 1.794 billion yuan, -3.944 billion yuan, and -2.763 billion yuan, respectively, and non-net profits attributable to the parent company were 5.8 billion, -3.833 billion yuan, -2.565 billion yuan. According to Yonghui Supermarket’s 2023 annual performance pre-loss announcement, Yonghui is expected to lose 1.34 billion yuan in net profit attributable to its parent company in 2023. Since 2021, Yonghui Supermarket has suffered losses for three consecutive years, totaling more than 8 billion yuan.

It is worth mentioning that there were rumors that JD.com was in contact with Yonghui regarding acquisition matters, intending to acquire Yonghui wholly, but was quickly denied by JD.com: "There is no such intention at present." .

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