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Miniso Group Holding will acquire 29.4 percent of Yonghui Superstores from various shareholders for RMB6.3 billion (US$893.3 million). Miniso, through its PRC subsidiary Guangdong Juncai International Trading, entered into share purchase agreements with DFI…
Dairy Farm Group-backed Yonghui Superstores is to boost its interest in Central Chinese regional supermarket chain, Zhongbai Holdings. According to a stock exchange filing in Shanghai, Yonghui is offering RMB8.10 per share to take its stake in the company…
“Significant challenges” across the Southeast Asian supermarket business are continuing to test Hong Kong-listed multi-format retailer Dairy Farm International. In a management statement discussing the company’s third-quarter performance – which did not…
Tencent has teamed up with ParknShop and Yonghui Superstores to create a new combined grocery chain ParknShop Yonghui. The joint venture, valued at US$170 million, aims to help Shanghai-listed Yonghui expand its business outside of the southern province of…
Poor trading by Dairy Farm International’s Southeast Asian grocery business hit the company’s bottom line last year, with underlying profit falling 13 per cent. But every other one of the company’s divisions traded strongly throughout the year, according to…
Three Chinese e-commerce giants led by Tencent are buying into shopping centres as part of an alliance that will help fund property magnate Wang Jianlin’s HK$30 billion (US$3.8 billion) plan to take his Dalian Wanda Group private. Jianlin describes it as the…
China’s Tencent plans to acquire a minority stake – some 5% — in offline Chinese retailer Yonghui Stores, as the tech giant looks to explore a physical retail presence in the domestic market. Yonghui said in a filing to the Shanghai stock exchange that the…
JD.com profit soared 50 per cent after a 39 per cent increase in sales during the Chinese online retailer’s latest quarter. Its unaudited results for the three months to the end of September show revenue of RMB83.7 billion (US$12.6 billion), with a record…
Dairy Farm sales were described as “flat” in the third quarter to September 30. The Hong Kong-headquartered company said improved performances in health and beauty, Ikea, restaurants and Yonghui were offset by lower sales in the food and grocery division.…
Chinese supermarket chain retailer Yonghui Supermarket has decided to build a supply chain industrial park in Sichuan’s Pengzhou city, with a total investment of CNY1 billion. The company says the industrial park will better support its regional distribution…
Hong Kong-headquartered multi-format retailer Dairy Farm International has celebrated its 130th anniversary with a strong set of results, with food, home furnishings and restaurants delivering higher profits. Total sales, including those of associates and…
Pan-Asia retailer Dairy Farm International Holdings reports “modest” sales growth for the six months ended June 30. Underlying profit was slightly ahead as higher contributions from food, home furnishings, restaurants and China hypermarket Yonghui offset a…
Weak performances in Singapore and Indonesia eroded underlying profits in multinational retailer Dairy Farm Group’s food division last year. Last week, Dairy Farm reported a 5 per cent overall increase in sales on a constant currency basis, but a 14 per cent…
Dairy Farm International Holdings says softer sales growth and steep cost increases led to weakened margins in the third quarter. In an interim management statement, which does not include financial data, the Hong Kong-based pan-Asian retailer says the group…
Dairy Farm International has agreed to acquire a further 143 million shares in a placement by Yonghui Superstores for about US$210 million. The investment by DFCL is being made in conjunction with JD.com acquiring a 10 per cent interest for consideration of…
