MNSO (09896) acquires a 29.4% stake in Yonghui Superstores, becoming the largest shareholder of Yonghui Superstores.

MNSO announced on the evening of September 23 that it will acquire a 29.4% stake in Yonghui Superstores for 6.3 billion RMB on the Hong Kong Stock Exchange, which includes the 21.1% stake held by the dairy company and the 8.3% stake held by JD.com. The announcement shows that after the transaction is completed, MNSO is expected to become the largest shareholder of Yonghui Superstores, further expanding its offline retail footprint. The success of the "Pinduoduo model" has brought about a major transformation in the Chinese supermarket industry, with Yonghui achieving breakthroughs in sales, customer traffic, and other dimensions after adjustments by Pinduoduo. As a rapidly globalizing Chinese retail brand, the cooperation between MNSO and Yonghui is expected to create a "Chinese version of Sam's Club".