Yonghui Superstores stock (CNE0000019B0): Miniso reports $120M loss from stake

Miniso Group disclosed an 813 million yuan loss from its 29.4% stake in Yonghui Superstores in annual results, highlighting challenges in China's retail sector amid decelerating sales.

Miniso Group, a major stakeholder in Yonghui Superstores Co Ltd, reported a significant loss of 813 million yuan (approximately $119.7 million) from its 29.4% equity stake in the supermarket chain, according to annual results cited on BigGo Finance as of May 2026. This impairment underscores ongoing headwinds for Yonghui, including decelerating same-store sales and competitive pressures in China's hypermarket industry. Yonghui shares traded at ¥3.7, up 0.27%, on the Shenzhen exchange (300251.SZ) as noted in recent market data on BigGo Finance.

As of: 14.05.2026

By the editorial team – specialized in equity coverage.

At a glance

• Name: Yonghui Superstores Co Ltd
• Sector/industry: Retail / Supermarkets
• Headquarters/country: China
• Core markets: China
• Key revenue drivers: Grocery sales, hypermarkets
• Home exchange/listing venue: Shenzhen Stock Exchange (300251.SZ)
• Trading currency: CNY

Yonghui Superstores: core business model

Yonghui Superstores Co Ltd operates a chain of hypermarkets and supermarkets primarily in China, focusing on fresh groceries, consumer staples, and everyday essentials. The company, listed on the Shenzhen Stock Exchange under ticker 300251.SZ (ISIN: CNE0000019B0), has built a network of over 1,000 stores across the country, emphasizing O2O (online-to-offline) integration to compete with e-commerce giants. This model blends physical retail with digital delivery services, targeting urban and suburban consumers seeking convenience and quality produce.

Founded in 2001 in Fujian province, Yonghui has expanded through acquisitions and organic growth, positioning itself as a key player in China's fragmented supermarket sector. Its revenue relies heavily on high-frequency grocery sales, which account for the majority of turnover, supplemented by apparel, household goods, and private-label products.

Main revenue and product drivers for Yonghui Superstores

Grocery categories, particularly fresh food like vegetables, meat, and seafood, drive over 60% of Yonghui's sales, benefiting from the company's reputation for quality sourcing directly from farms. Non-food items such as daily chemicals and apparel contribute additional streams, while private-label brands enhance margins amid rising competition from platforms like Alibaba's Freshippo and JD.com. Recent annual results from stakeholder Miniso highlight pressures, with Yonghui facing losses that impacted Miniso's equity accounting by 813 million yuan for the period ending in the latest reported year, per BigGo Finance.

Same-store sales deceleration remains a challenge, as noted in market commentary, reflecting broader retail slowdowns in China due to economic headwinds and shifting consumer habits toward online shopping.

Industry trends and competitive position

China's supermarket sector faces intense rivalry from e-commerce and discount chains, with players like Yonghui adapting via store renovations and tech investments. The market for meal prep and household products, where Yonghui competes, shows e-commerce growth at 40-50% of sales per IndexBox reports on related categories. Yonghui's physical footprint provides an edge in fresh goods, but digital transformation is critical for US investors eyeing exposure to China's consumer economy.

Why Yonghui Superstores matters for US investors

For US investors, Yonghui offers indirect exposure to China's massive retail market, the world's largest by population, through its Shenzhen listing accessible via international brokers. The company's challenges, like the stake impairment reported by Miniso, mirror US retail trends such as Walmart's omnichannel shifts, providing comparative insights into global grocery dynamics.

Conclusion

The reported loss from Miniso's Yonghui stake highlights persistent challenges in China's retail landscape, including sales deceleration and equity impairments. Yonghui continues to navigate competition through its hypermarket model and digital efforts. Investors monitoring Chinese consumer stocks should track upcoming earnings for updates on recovery strategies and market positioning.

Disclaimer: This article does not constitute investment advice. Stocks are volatile financial instruments.