Sun Art Retail Group names Li Weiping new CEO

Sun Art Retail Group Limited announced a change in its executive leadership, effective December 1, 2025. Shen Hui will resign as an executive director, chief executive officer, and authorised representative to devote more time to his family. The board expressed appreciation for his contributions, including restoring price competitiveness and successfully establishing the Superstore model.

Concurrently, Li Weiping has been appointed as an executive director, chief executive officer, and authorised representative, also effective December 1, 2025. Li, 47, brings over 20 years of retail management experience, including roles at Freshippo, Lotte Supermarket Co., Ltd., and China Resources Supermarket Company Limited. She holds a bachelor's degree in mechanical engineering and information automation.

Li will enter into a three-year service agreement, receiving a fixed salary of 3.36 million yuan per annum as chief executive officer, along with an annual management bonus determined by the remuneration committee and the board based on the group’s operating results and her performance. She will not receive a separate director’s fee.