“The first stock of private supermarket chains” is gradually increasing and officially changing ownership!

By orchioo Apr23,2023

The former “King of Southwest Supermarkets” and the “First Stock of Private Supermarkets” gradually changed ownership.
“Retail Circle” has learned that on March 16th, Bubugao issued an announcement. Recently, the company received a notice from its shareholders, Bubugao Investment Group Co., Ltd. (hereinafter referred to as “Bubugao Group”), and Xiangtan Industrial Investment Partnership (Limited Partnership). The registration procedures for the agreement transfer between Bubugao Group and Xiangtan Industrial Investment Investment have been completed. After the completion of this equity transaction, Xiangtan Industrial Investment Investment Co., Ltd. held 86390395 shares of Bubugao, accounting for 10% of the total equity of the listed company, and became the controlling shareholder of Bubugao. The actual controller of the company is the State-owned Assets Supervision and Administration Commission of Xiangtan City.
“Retail Circle” previously reported that on January 11, 2023, Bubugao Group signed a Share Transfer Agreement and a Voting Rights Waiver Agreement with Xiangtan Industrial Investment Investment Investment. Bubugao Group transferred 86390395 shares (accounting for 10% of the total share capital of the listed company) held by the listed company to Xiangtan Industrial Investment Investment Investment through agreement transfer, with a transfer price equivalent to 5.995 yuan per share, totaling 517.9 million yuan. “.
At the same time, the founder of Bubugao, Wang Man, and his wife, Zhang Haixia, voluntarily surrendered their actual control, and the original controlling shareholder, Bubugao Investment Group Co., Ltd. (hereinafter referred to as “Bubugao Group”), waived their voting rights corresponding to all 215850738 shares (accounting for 24.99% of the total share capital of the listed company) held by them in the remaining listed company.
In 2008, Bubugao successfully listed A-share under the title of “The First Private Supermarket”, and rapidly expanded its strength in a few years after listing and financing. It once realized that it could compete with Carrefour, Wal Mart, Yonghui and other traditional retail giants in some regions. At its peak, the company had nearly 700 multi format physical stores in the southwest region. Known as the “King of Southwest Supermarket”.https://store.stoneitech.com/
In 2018, Tencent and JD.com stepped up their stakes and started strategic cooperation in traffic, supply chain, business cooperation, etc. However, the trend is irreversible, and traditional supermarkets have not been completely transformed step by step.
After the baptism of internet e-commerce, the impact of new retail sales, and the impact of the epidemic for three years, the only consecutive two years of losses since the listing has gradually emerged.
The company’s performance forecast for 2022 shows that the net loss attributable to shareholders of listed companies during the period was 1.3 billion to 195 billion yuan, an increase of 606.01% to 959.02% year-on-year in 2021; After deducting non recurring gains and losses, the company had a net loss of 1.2 billion to 1.8 billion yuan, an increase of 170.11% to 305.16% year-on-year in 2021.

By orchioo

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