Chengdu Hongqi Chain Co., Ltd., along with its subsidiaries, operates convenience supermarkets in China through a chain model. The company is also involved in wholesale and retail businesses. Founded in 2000, it is headquartered in Chengdu, China.
Hongqi Chain's 'Hongqi You Life' Joins Shuguanghui, Over 3,000 Directly-Operated Stores Connected to State-Owned Platform
Hongqi Chain's newly built digital convenience service platform 'Hongqi You Life' has officially joined Shuguanghui, Sichuan's state-owned digital consumption service platform, marking resource interconnection, scenario co-construction, and traffic sharing between the two major local consumption service platforms under Sichuan Commercial Investment Group. Hongqi Chain's more than 3,000 directly-operated store resources in Sichuan Province will be connected to Shuguanghui, and the system can match store products nearby based on user location. After joining, 'Hongqi You Life's' product supply chain, fulfillment and delivery system, and community terminal outlets will be fully integrated into Shuguanghui's public consumption service system. Consumers can place orders for Hongqi You Life products on the Shuguanghui platform, with support for in-store pickup or home delivery. Shuguanghui is an official digital consumption comprehensive service platform built with priority by Sichuan provincial state-owned assets, focusing on promoting consumption, benefiting people's livelihoods, revitalizing commerce, and promoting Sichuan goods. It undertakes employee welfare expense control management, consumption incentive policies, and distribution of consumer subsidies for grassroots trade unions and government, public institution, and enterprise employees. The two sides will regularly carry out joint activities such as consumer promotions, stacking of consumption subsidies, and promotion of specialty Sichuan goods, building a digital livelihood consumption closed loop of 'online platform empowerment, offline physical fulfillment'.
Hongqi Chain first-half 2026 net profit 268 million yuan, down 4.57% year on year
Hongqi Chain released its first-half 2026 report, with net profit attributable to the parent company of 268 million yuan, down 4.57% from the same period last year. Total operating revenue was 4.676 billion yuan, a decrease of 132 million yuan, or 2.75% year on year. Net cash inflow from operating activities was 292 million yuan, down 122 million yuan, or 29.45% year on year. The company's latest asset-liability ratio was 40.58%, down 2.91 percentage points from the same period last year. Gross margin was 29.62%, down 0.23 percentage points year on year. Return on equity was 5.46%, down 0.66 percentage points year on year. Diluted earnings per share were 0.20 yuan, down 4.76% year on year.
Retail earnings diverge in first half of 2026 as community store formats accelerate
Traditional retail companies posted clearly divergent results in the first half of 2026. Yonghui Superstores and Grandbuy turned profitable, while Zhongbai Holdings Group and Liqun Commercial Group remained in the red. Yonghui Superstores expects first-half net profit attributable to shareholders of 250 million yuan and non-GAAP net profit of 30 million yuan, mainly helped by completing renovations at 331 stores, lifting gross margin by 1.6 percentage points year on year and cutting period expense ratio by 1.8 percentage points. However, based on first-quarter figures, its second-quarter non-GAAP net profit was negative 217 million yuan. Grandbuy expects first-half non-GAAP net profit of 20 million to 25 million yuan, returning to profit through cost reduction and efficiency gains. Zhongbai Holdings Group expects a non-GAAP net loss of 269 million to 352 million yuan, while Liqun Commercial Group expects a non-GAAP net loss of 48 million to 65 million yuan, with both weighed down by declining foot traffic, online diversion and persistently high fixed costs. At the same time, community store formats are expanding rapidly. Walmart China opened its 20th community store in Shenzhen, Meituan's community hard-discount supermarket Happy Monkey opened three new stores in Beijing and Tianjin, and Freshippo has made its community discount format Freshippo NB one of its main store types. Among A-share companies, Hongqi Chain expects first-half net profit attributable to shareholders of 266 million to 275 million yuan and non-GAAP net profit of 275 million to 284 million yuan. Its high-density community network is seen by the industry as a key advantage that sets it apart from the hypermarket model.
002187.CS · Capital · Positive Grandbuy expects first-half non-GAAP net profit of 20-25 million yuan, returning to profit through cost reduction and efficiency gains.
601933.CG · Capital · Positive Yonghui turned profitable with improved margins and cost cuts.
000759.CS · Demand · Negative Zhongbai expects a net loss due to declining foot traffic and high fixed costs.
002697.CS · Demand · Positive Hongqi Chain's high-density community network is seen as a key advantage, with expected net profit of 266-275 million yuan.
601366.CG · Demand · Negative Liqun expects a net loss due to declining foot traffic and online diversion.
3690.HK · Demand · Positive Meituan's community hard-discount supermarket expansion shows growth in this segment.
Hongqi Chain Expects First-Half Net Profit Attributable to Parent to Fall 2.06% to 5.27% Year-on-Year
Hongqi Chain issued an announcement, expecting net profit attributable to the parent for the first half of 2026 to be between 266 million and 275 million yuan, a year-on-year decline of 2.06% to 5.27%. The company continues to optimize its offline store layout, implement differentiated operating strategies, and achieve excellent performance in per-store output and profit quality. The number of 24-hour cloud-attended stores has surpassed one thousand, and it is actively promoting a pre-sale business model to accelerate the integration of online and offline channels. Although the year-on-year increase in income tax expenses has put some pressure on net profit attributable to the parent, net profit attributable to the parent after deducting non-recurring gains and losses achieved year-on-year growth.
Hongqi Chain expects net profit attributable to the parent company for the first half of 2026 to be between 266 million and 275 million yuan, a year-on-year decline of 2.06% to 5.27%, mainly due to higher income tax expenses, though net profit attributable to the parent after deducting non-recurring items achieved year-on-year growth. The number of its 24-hour cloud-attended stores has surpassed 1,000, while the company also announced the termination of its robot unmanned vending system research and development, which lasted over a year, as it has not yet met the standards for large-scale commercial deployment. In addition, the South Sichuan regional distribution center in Zigong officially began operations on July 3, becoming the company's third major logistics center, serving stores in Zigong, Neijiang, Leshan, Meishan, and Ziyang. The company recently completed a board reshuffle, with 39-year-old He Hailin elected as the new chairman, while founder Cao Shiru continues as general manager. Since the start of this year, Hongqi Chain's share price has fallen by 24%.
Hongqi Chain Plans to Terminate Development of Robotic Unmanned Vending System
Hongqi Chain announced plans to terminate the development of its robotic unmanned vending system. The project, launched in 2025, has achieved certain practical results after more than a year of effort, but has yet to meet the standards for large-scale commercial deployment. The company made the termination decision based on considerations including overall strategic layout, input-output ratio, and priority assessment of existing achievements. Going forward, the company will accelerate the large-scale operation of its 24-hour cloud-attended service to steadily improve operational efficiency. In addition, the company's southern Sichuan regional distribution center in Zigong City officially commenced operations on July 3, 2026, which will further enhance distribution coverage and improve regional logistics response efficiency.
002697.CS · Technology · Negative Terminates development of robotic unmanned vending system, a technology project that failed to meet commercial deployment standards.
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