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China supermarket chain Yonghui net profit surges in Q1

May 06, 2020


Abstract : Chinese supermarket chain operator Yonghui Superstores Co., Ltd. reported robust net profit growth in the first quarter (Q1) despite the bite of the COVID-19 epidemic.

BEIJING, May 6 (Xinhua) -- Chinese supermarket chain operator Yonghui Superstores Co., Ltd. reported robust net profit growth in the first quarter (Q1) despite the bite of the COVID-19 epidemic.

Net profit attributable to its shareholders surged 39.47 percent to 1.57 billion yuan (about 222.47 million U.S. dollars) from the same period last year, according to its financial report filed with the Shanghai Stock Exchange.

During the period, its revenue reached 29.26 billion yuan, up 31.57 percent year on year, said Yonghui, partly owned by e-commerce giant JD.COM and Internet giant Tencent.

Considering that consumers now prefer staying at home and shopping online due to the epidemic, the company accelerated the integration of online and offline retails in Q1.

Sales of commodities delivered to the customers skyrocketed by 239 percent to 2.09 billion yuan. Enditem

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Keyword: Yonghui supermarket chain

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