China’s Top 10 Supermarkets in 2026

No. 5: Yonghui Superstore

Revenue: RMB 58.05 billion (US$8.54 billion)
Revenue change: -20.7%
Stores: 403
Store count change: -48.0%

Founded in 2001 and headquartered in China’s coastal Fuzhou, Fujian province, Yonghui was one of China’s first national supermarket chains to build fresh food into a core competitive advantage. It listed on the Shanghai Stock Exchange in 2010.

Relying on its “farmers’ market to supermarket” model and national direct-procurement supply chain, Yonghui expanded rapidly. At its peak, it operated more than 1,400 stores across 29 provinces, autonomous regions and municipalities. In 2020, revenue reached RMB 93.2 billion, placing it among China’s leading supermarket groups.

But the rise of community group buying, instant retail and e-commerce, combined with changing consumer demand, has put the traditional hypermarket model under sustained pressure. From 2021 to 2024, Yonghui recorded four consecutive years of net losses attributable to shareholders, with cumulative losses exceeding RMB 9.5 billion. In 2024, revenue fell 14.1% to RMB 67.57 billion.

In May 2024, Yonghui launched the most extensive store revamp in its history, inviting Pangdonglai’s team to assist. The overhaul focused on product selection, service, employee benefits and supply chains. Revamped stores removed about 70% of existing products, introduced large numbers of new items, improved store layouts, expanded ready-to-eat and bakery areas, and raised staff pay and leave benefits.

Alcohol has been one focus of the revamp. In addition to introducing Pangdonglai’s private-label beer, Yonghui launched its own alcohol brand, Cheers to Joy. The beer range has since expanded to include German-style wheat beer, IPA and other styles. In wine, Yonghui has partnered with COFCO Great Wall to launch two customised products, further strengthening its private-label alcohol portfolio.

For imported wine, Yonghui continues to follow a “small but curated” approach. Unlike Freshippo or Sam’s Club, which rely more heavily on direct sourcing, Yonghui mainly procures through domestic importers, but its assortment still shows clear differentiation.

For example, as New Zealand white wine has gained momentum in China, Yonghui has introduced several New Zealand white wines across different price points. It has also worked with South Africa wine producer KWV, a supplier to Sam’s Club, to bring in South African Chenin Blanc, while partnering with other importers on lower-priced products from the same grape variety to reach a broader consumer base.