On May 21st, it was revealed that the news of Yu Donglai's plan to "transform" Yonghui Supermarket quickly sparked discussions.
According to domestic media reports, regarding the recent cooperation between Yu Donglai and Yonghui that has been widely discussed, Yonghui CEO Li Songfeng stated at the 2023 annual shareholders meeting that the current responsibility is to learn and introduce Yu Donglai's successful models and implement them in the provinces.
It was disclosed that Yonghui will collaborate with Yu Donglai to renovate stores in Zhengzhou and Xinxiang, with specific details including store planning, product structure, supply chain, optimizing store services, and employee salaries. Additionally, some of Yu Donglai's products will be available at Yonghui.
Previously, the official video account of Hanhai Beijin Shopping Plaza in Zhengzhou released a live video of Yu Donglai, the founder of Yu Donglai, parachuting into Hanhai Beijin, with the caption: "The first stop in Henan, Yu Donglai assists in the transformation of Hanhai Beijin Yonghui store, officially starting on June 1st."
Public records show that Yonghui Supermarket was established in 2001 and went public on the A-share market in 2010. In 2019, Yonghui Supermarket reached a peak of 1440 stores, but according to its 2023 annual report, the number of Yonghui Supermarket stores has been reduced to 1000.
Yonghui is not the first supermarket assisted by Yu Donglai. In June 2023, Yu Donglai decided to assist the Jiangxi chain supermarket brand Jiabaile, and in April 2024, Yu Donglai extended a helping hand to the leading Hunan supermarket chain Bubugao.
Since 2023, Yu Donglai has gained popularity on social media platforms with the "Injustice Award." Subsequently, details such as high employee salaries, good benefits, and guaranteed product quality have been continuously revealed, earning the company the title of "fairy-tale company" by netizens.
Moreover, Yu Donglai is also hailed as a retail legend. Recently, Yu Donglai mentioned that he originally planned to earn 20 million yuan last year, but unexpectedly made 140 million yuan by the end of the year. Furthermore, employee salaries are continuously increasing, with the lowest income being around 7,000 yuan per month, and the average salary in many stores being above 8,000 yuan.
