Yonghui reports 20.35% revenue growth in FY2018
yonghui, Monday, May 6, 2019
In its FY2018, Chinese big-box major Yonghui Superstore posted total revenue of CNY70.52 billion (USD10.4 billion), a gain of 20.35%. Net profit fell by 18.52% to CNY1.48 billion (USD0.2 billion), which was mainly due to increased operating expenses, chiefly opening new stores which pushed expenses up by 36.78%.
By the end of 2018, Yonghui had opened a total of 708 stores, covering 24 provinces and municipalities across the country, achieving full coverage of first- and sixth-tier cities, mainly in the southeast coast, Sichuan-Yunnan region, Yangtze River Delta, and North China. (Chinese language)