中文FrançaisDeutsch日本語Русский языкEspañolعربيEsperanto한국어BIG5
CHINA DEVELOPMENT GATEWAY
SiteMap Feedback
Travel Living in China Archaeology Film Learning Chinese Chinatown Suppliers
Home China International Business Government Education Environment Culture Women Books & Magazines Sports Health Entertainment
Home / English Column / Business (new) / More News Tools: Save | Print | E-mail | Most Read
Wumart Sets Sights on Growth
Adjust font size:  ZoomIn ZoomOut

Wumart Stores Inc, Beijing's largest supermarket chain, said yesterday it has earmarked 500 million yuan (US$62.5 million) to open more hypermarkets and take over competitors in 2006.

The move, announced after it posted strong first-half earnings yesterday, aims to fend off foreign rivals and consolidate its leadership of the mainland's highly competitive retail market, analysts said.

But the war chest does not include the 550 million yuan (US$68.75 million) spent on its two latest acquisitions this year.

Wumart announced the acquisitions of Beijing rival MerryMart in February, while it took over Southwest China-based Xinhua Co in April.

"We will continue to expand and acquire," said Xu Ying, Wumart's director of finance.

"Our goal is to become a leading hypermarket operator," she told reporters yesterday. About 70 percent of Wumart's turnover comes from its hypermarket stores.

Despite that ambition, the retailer, which trades its shares in Hong Kong's secondary stock market, the Growth Enterprise Market, will open 20 to 30 new community-based mini-marts in 2006, in a move to diversify its store portfolio. It now operates 478 mini-marts.

Running a total of 524 stores, the retailer has been basking in the mainland's consumption boom in recent years.

Wumart, Shanghai-based Brilliance and Dalian-based Dashang Group, are regarded as the local giants that can compete with foreign players such as US retail behemoth Wal-Mart, France's Carrefour and Germany's Metro.

It used to expand through organic growth, becoming one of the few Chinese retailers to have a cross-province influence.

However, strong penetration by foreign retailers has forced Wumart to conduct mergers and acquisitions, a quicker but more capital-intensive way to grab a bigger market share.

It also seems to be an effective way to enter smaller cities, where small-scale, local retailers have already occupied prime areas for supermarkets, analysts said.

"I don't think Wumart will only focus on Beijing," said Lai Wai-shing, an analyst at Hong Kong-based Hantec Investment. "It's still hunting for acquisitions," he said.

Wumart yesterday posted a year-on-year 44.2 percent jump in its net profit from January to June, to reach 108.9 million yuan (US$13.6 million), slightly beating an earlier estimate made by investment bank DBS.

With a "buy" recommendation on Wumart's shares, DBS predicted its earnings would be 1.06 million yuan (US$13.25 million).

The retailer's turnover also experienced a sharp rise of 43.5 percent, on a yearly basis, to 2.62 billion yuan (US$327.5 million), thanks to the "opening of new stores and robust same-store increases," it said in a statement.

Wumart's Hong Kong-traded shares were under pressure in the past couple of weeks after the company delayed its acquisition process with MerryMart.

Its shares sank 1.79 percent to HK$27.5 (US$3.5) yesterday but are expected to rise today on handsome half-year results, which were announced after the stock market's close.

(China Daily August 11, 2006)

Tools: Save | Print | E-mail | Most Read

Related Stories
Wumart Buys 27.7% Stake in Retailer
Retail Giant Swallows Rival
Chain Retailer Steps up Takeover Strategy
Wumart to Explore Department Business
?
SiteMap | About Us | RSS | Newsletter | Feedback
SEARCH THIS SITE
Copyright ? China.org.cn. All Rights Reserved ????E-mail: webmaster@china.org.cn Tel: 86-10-88828000 京ICP證 040089號
主站蜘蛛池模板: 成人免费的性色视频| 日本激情一区二区三区| 报告夫人漫画画免费读漫画在线观看漫画ag| 亚洲成av人片在线观看www| 精品久久久中文字幕一区| 国产一级淫片视频免费看| 99精品全国免费观看视频| 欧美三级欧美一级| 台湾swag视频在线观看| 风间由美性色一区二区三区| 大学生a级毛片免费观看| 一色屋精品视频任你曰| 欧美丰满熟妇BBB久久久| 医生系列小说合集| 色老头久久久久| 国产国语对白露脸正在播放| rewrewrwww63625a| 成人小视频免费在线观看| 亚洲丰满熟女一区二区v| 精品欧美成人高清在线观看2021| 国产亚洲一区二区三区在线| 成人福利小视频| 天使萌一区二区在线观看| 一本大道加勒比久久综合| 日韩精品视频观看| 亚洲人成激情在线播放| 欧美成人精品三级网站| 午夜亚洲WWW湿好大| 老湿影院在线观看| 国产乱人伦真实精品视频| 韩国免费播放一级毛片| 国产性生大片免费观看性| 97人洗澡人人澡人人爽人人模| 无码专区天天躁天天躁在线| 亚洲天天做日日做天天欢毛片| 波多野结av衣东京热无码专区| 亚裔玉videoshd和黑人| 狠狠躁日日躁夜夜躁2022麻豆| 免费一级黄色大片| 直播视频区国产| 国产乡下三级全黄三级bd|