Ye Guofu: In the next three years, Yonghui (601933.SH) will incubate 100 products worth over one billion yuan.

On March 29, Yonghui Superstores (601933.SH) held the 2025 Global Supplier Conference in Xuchang, Henan. The theme of the conference was "Going back to the essence and embracing quality", bringing together hundreds of Yonghui Superstores' global core supplier representatives to discuss the path of high-quality development in the retail industry. Founder, Chairman, and CEO of MNSO Group, as well as leader of the Yonghui Superstores reform team, Ye Guofu, stated that Yonghui Superstores will focus on core suppliers, core flagship products, and long-termism to drive Yonghui's transformation and upgrade. Yonghui Superstores will firmly follow the quality retail route of "Pangdonglai model" and become a national supermarket more suitable for mainstream Chinese families. Pangdonglai founder and chairman Yu Donglai stated at the conference that companies should continuously improve product research and development, product functionality, and product quality around the standard baseline to accumulate energy and spread beauty in the retail industry. Over the next three years, Yonghui will incubate 100 billion-yuan flagship products. Ye Guofu emphasized focusing on core suppliers, core flagship products, and long-termism, while strongly opposing the practice of changing suppliers with each new procurement officer. He announced that Yonghui Superstores will selectively screen its first batch of 200 core suppliers and establish an annual dialogue mechanism with the suppliers' chairpersons. During the roundtable forum, executives from MENGNIU DAIRY Group, XINRONGMAO Fruit Technology Group, YIHAIKALI Food Marketing Limited Company, Guangdong Yihao Food Company, and the Liansheng Donglai Business Research Institute engaged in deep discussions on topics like transforming the supply chain relationship and developing quality retail. They unanimously agreed that both parties in the supply chain need to establish a symbiotic relationship based on value co-creation, and build a long-term trust mechanism. Yonghui plans to adjust and convert 200 stores this year. As a retail "myth", Pangdonglai is dedicated to creating a "path of beauty" and has initiated a new trend in commercial excellence. On the morning of March 29, participants visited Pangdonglai to learn about its management and cultural philosophy. During the conference, Yu Donglai stated, "Products also have a life and need to be respected, nurtured, cared for, motivated, and praised." He suggested that enterprises should strengthen team building, enhance the stability and improvement of research and development quality and product quality to offer consumers higher quality products. In May 2024, with the support of Yu Donglai and his team, Yonghui Superstores underwent adjustments and conversions through two modes, namely, Pangdonglai assistance and independent adjustments. The feedback from the revamped stores showed significant growth in reputation, quality, customer flow, and sales, effectively promoting high-quality consumer development. Yonghui Superstores will firmly follow the quality retail route of the Pangdonglai model and bring the values of a happy supermarket to a larger consumer base. It is reported that on March 28, Yonghui Superstores had 5 converted stores in Beijing, Nanning, Lanzhou, Dongguan, and Wenzhou, which were all well-received. As of March 29, Yonghui Superstores completed the conversion of 47 stores nationwide, and it is expected that by mid-year, the total number of converted stores will reach 100, with a target of 200 by the end of the year.