Yonghui Superstores

Yonghui Superstores (永辉超市) is a Chinese chain supermarket operator headquartered in Fuzhou, Fujian Province. Founded in 2001 by Zhang Xuansong, the company grew from a regional grocery retailer into one of the country's largest national supermarket chains, distinguished by a strong emphasis on fresh produce, meat and seafood — a positioning often described as its 'fresh food' (生鲜) core competence. Its store network spans standard community supermarkets, the premium 'Bravo YH' format, and smaller formats aimed at urban neighborhoods, and it operates across a large number of Chinese provinces and municipalities. Yonghui became a publicly listed company on the Shanghai Stock Exchange, and its scale made it a significant player in China's modern grocery trade alongside international chains and domestic rivals. The company invested heavily in supply-chain capability, direct sourcing of agricultural products, and cold-chain logistics to support its fresh-food model. It also pursued strategic partnerships and minority investments involving major Chinese and international retail and technology groups, and experimented with new retail formats, mini-store concepts and online-to-offline grocery delivery as Chinese consumer habits shifted toward e-commerce and instant delivery. In the 2020s Yonghui faced a tougher operating environment, with intense competition from community group buying, e-commerce platforms and discount formats, and it undertook store closures, format adjustments and cost restructuring to restore profitability. Despite these pressures, Yonghui remains one of the best-known supermarket brand names in China, with a large store base and a recognized fresh-food supply chain. This dossier describes the retail brand and company; it does not cover unrelated entities that may share the same name.

Yonghui Superstores was founded in 2001 in Fuzhou, Fujian Province, by Zhang Xuansong, starting as a regional supermarket operator in southeast China. From its early years the company built its identity around fresh food — vegetables, fruit, meat and seafood — sourced through direct procurement from agricultural bases and supported by cold-chain logistics, which differentiated it from rivals that relied more heavily on packaged and dry groceries. During the 2000s Yonghui expanded beyond Fujian into other Chinese provinces, rolling out community supermarkets and building a national buying and distribution organization. Its fresh-food model proved attractive to Chinese shoppers who traditionally bought produce at wet markets, and the chain became one of the country's leading modern grocery retailers. The company later listed on the Shanghai Stock Exchange, giving it capital to fund further store growth and supply-chain investment. In the 2010s Yonghui diversified its store portfolio, introducing the premium 'Bravo YH' format for higher-income urban shoppers and smaller neighborhood formats, and it invested in supply-chain and logistics infrastructure including centralized procurement and distribution centers. The period also saw strategic partnerships and minority equity investments involving large Chinese and international retail and technology groups, as well as experiments with 'new retail' concepts, mini-stores and online grocery delivery. From the late 2010s into the 2020s the Chinese grocery market changed rapidly, with community group buying, e-commerce platforms and discount chains intensifying price competition. Yonghui responded with store closures, format rationalization, cost reduction and restructuring of its operations to improve profitability, while continuing to emphasize its fresh-food supply chain as a core strength. The brand remains one of China's most recognized supermarket names, operating a large store network across multiple provinces.

• 2001

  Yonghui Superstores founded in Fuzhou, Fujian Province.

• Company lists on the Shanghai Stock Exchange (ticker 601933).

• Launch of the premium 'Bravo YH' supermarket format.

• Expansion of fresh-food direct sourcing and cold-chain distribution network.

• Restructuring and store closures in response to intensified grocery competition.

Fresh-food-led mass-market supermarket chain serving Chinese urban households.

• Fresh produce and perishables

• Packaged food and beverages

• Household and daily necessities

• Private-label grocery lines

• Bravo YH premium supermarket assortment

• 2021

  Yonghui Life app consumers report Moutai orders not delivered

  Consumers in Nanjing reportedly said they had paid for Moutai orders through the Yonghui Life app but could not collect the goods and had not received refunds. A local market regulator official said Yonghui Superstores served only as the pickup location and that an unnamed Shanghai company handled the sale. Yonghui had not responded to the inquiry at the time of reporting.

  Source

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• 2026.10.30

  Reported2026.11.02

  Yonghui Superstores publishes 2026 third-quarter report[2]永辉超市发布2026年第三季度报告163.com

  Yonghui Superstores published its 2026 third-quarter report on October 30. The article describes the report as showing an improvement in the company’s operating performance.

• Unconfirmed

  Yonghui Life app consumers report Moutai orders not delivered[1]Yonghui Life app consumers report Moutai orders not deliveredchina.qianlong.com

  Consumers in Nanjing reportedly said they had paid for Moutai orders through the Yonghui Life app but could not collect the goods and had not received refunds. A local market regulator official said Yonghui Superstores served only as the pickup location and that an unnamed Shanghai company handled the sale. Yonghui had not responded to the inquiry at the time of reporting.

• Unconfirmed

  Reported2020.05.14

  Yonghui opens a store in Fuzhou[3]永辉超市福州省府路店开业finance.sina.com.cn

  Yonghui Superstores' Fuzhou Shengfu Road store opened recently; the article identifies it as Yonghui's first store opened nationally since the Spring Festival.

• 2019.12.16

  Reported2019.12.17

  Yonghui and Wuhan state-owned assets agree on Zhongbai cooperation[4]永辉超市与武汉国资就中百集团合作达成共识food.china.com.cn

  Yonghui Superstores and Wuhan State-owned Assets Management Co. reached agreement and signed a memorandum concerning Zhongbai Group's actual controller, corporate governance, operations, and future development. The memorandum provides for cooperation in business processes and other functions.

• 2019.12.16

  Reported2019.12.16

  Yonghui cancels tender offer for Zhongbai Group[5]永辉超市取消对中百集团的要约收购finance.sina.com.cn

  Yonghui Superstores announced that it was cancelling its partial tender offer for Zhongbai Group, maintaining its 29.86% stake and supporting Wuhan State-owned Assets as Zhongbai's actual controller.

• 2019.11.14

  Reported2019.11.14

  Yonghui announces tender offer for Zhongbai shares[6]永辉宣布要约收购中百股份finance.sina.com.cn

  Yonghui announced a tender offer to acquire shares representing 10.14% of Zhongbai Group's total share capital at RMB 8.10 per share.

• 2019.09.24

  Reported2019.09.25

  China accepts security review of Yonghui’s proposed Zhongbai investment[7]永辉超市拟投资中百集团事项获受理安全审查finance.sina.com.cn

  China’s National Development and Reform Commission accepted a foreign investment security review of Yonghui Superstores’ proposed investment in Zhongbai Holdings Group. The source reports acceptance for review, not a final approval.

Read more

1. 1Yonghui Life app consumers report Moutai orders not deliveredchina.qianlong.com
2. 2永辉超市发布2026年第三季度报告163.com
3. 3永辉超市福州省府路店开业finance.sina.com.cn
4. 4永辉超市与武汉国资就中百集团合作达成共识food.china.com.cn
5. 5永辉超市取消对中百集团的要约收购finance.sina.com.cn
6. 6永辉宣布要约收购中百股份finance.sina.com.cn
7. 7永辉超市拟投资中百集团事项获受理安全审查finance.sina.com.cn
8. 8面临审查 永辉收购中百遇坎finance.sina.com.cn
9. 9取消要约收购中百集团计划 永辉超市称不谋求控制权tech.sina.com.cn
10. 10永辉发布年度业绩预告：全年科技投入近6.7亿元- DoNewsdonews.com
11. 11永辉取消要约收购中百 借并购扩张华中市场或落空finance.sina.com.cn
12. 12永辉要约收购中百 面临国家发改委特别审查finance.sina.com.cn
13. 13永辉要约收购中百 面临国家发改委特别审查_个股资讯_市场_中金在线sc.stock.cnfol.com