Yonghui Superstores slashes private placement for store upgrades, working capital

Yonghui Superstores has revised its 2025 A-share private placement plan, reducing the proposed fundraising from CNY 399,207.99 million to CNY 311,386.04 million. This adjustment, approved on September 1, 2025, primarily impacts the "Store Upgrade and Renovation Project," which will now target 216 stores instead of 298. The total investment for this project has been reduced, with allocated proceeds decreasing from CNY 321,307.27 million to CNY 240,485.32 million.

The capital allocated for "Replenishing Working Capital or Repaying Bank Loans" has also been revised from CNY 47,000.00 million to CNY 40,000.00 million. The company emphasizes that the revised plan aims to improve operational efficiency and enhance profitability, in line with its "quality retail" strategy. The "Logistics and Storage Upgrade Project" retains its CNY 30,900.72 million allocation.

The company acknowledges that the issuance may dilute immediate returns due to increased share capital and net assets, and it has outlined measures to mitigate this impact. The transaction awaits approval from shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission.