Yonghui Superstores names new CEO, establishes Hangzhou subsidiary

Yonghui Superstores Co., Ltd. announced a series of strategic decisions following its Sixth Board of Directors' Seventh Meeting on September 18, 2025. The board approved the appointment of Mr. Wang Shoucheng as the company's chief executive officer (CEO), effective the same day. Mr. Wang, born in April 1991, holds a master's degree from Peking University and has been with Yonghui since 2017, serving in various leadership roles including director, vice president, and head of operations support.

In a move to enhance market adaptability and operational efficiency, the company also approved the establishment of Hangzhou Yonghui Superstores Co., Ltd., a new subsidiary located in Linping District, Hangzhou. This subsidiary will have a registered capital of 10 million yuan and will be wholly owned by Zhejiang Yonghui Superstores Co., Ltd. Its broad business scope will include retail and wholesale of food, household goods, medical devices, and services such as catering and logistics.

Further decisions from the related extraordinary general meeting on September 18, 2025, included the approval of several proposals regarding a private placement of A-shares for 2025, encompassing the issuance plan, fundraising scale, and a three-year shareholder return plan for 2025-2027.