Wumart Stores

More vocal Chinese workers give foreign investors pause

Chip Starnes tells of his ordeal after he was held hostage by workers at his factory. Photo: AFP

Social instability in mainland China is increasingly a major concern for foreign investors, with the deal-making process often involving more than just the buyer and the seller - as local governments and even workers are capable of tearing up carefully negotiated agreemen

Monday, 10 March, 2014, 12:27pm 1 comment

Wumart buys Lotus stores for HK$2.3b

Wumart aims to be a national retailer with a regional strategy after sealing a partnership deal with CP Lotus. Photo: Simon Song

Wumart Stores, which operates a supermarket chain on the mainland, will acquire most of the Lotus supermarkets on the mainland in a share-swap deal worth HK$2.3 billion, it said yesterday.

17 Oct 2013 - 2:50pm

Strong sales boost Wumart third-quarter net profit 35pc

Wumart Stores, Beijing's biggest supermarket chain, said third-quarter profit jumped 35.28 per cent year on year on strong sales and higher contributions from suppliers.

Earnings for the quarter to September were 74.87 million yuan, or 6.13 fen a share, from 55.41 million yuan, or 4.53 fen a share.

7 Nov 2007 - 12:00am

Wumart income soars 47pc on higher sales

Wumart Stores, Beijing's biggest supermarket chain, said first-half profit rose 47 per cent on higher sales and an accounting gain.

Net income for Growth Enterprise Market-listed Wumart rose to 160.3 million yuan, 13 fen a share, from 108.9 million yuan, nine fen a share, a year earlier.

9 Aug 2007 - 12:00am

Wumart in talks to sell smaller stake of 10pc

Wumart Stores, the largest supermarket chain in Beijing, has reopened discussions with interested buyers on a scaled-down deal that could see the retailer sell a stake of about 10 per cent, market sources said.

16 Jul 2007 - 12:00am

Wumart income rises 25pc on higher sales

Wumart Stores, Beijing's biggest supermarket chain, said first-quarter earnings rose 25 per cent, helped by higher sales and a profit contribution from acquired store chains.

Net income rose to 78 million yuan, or six fen per share, for the first three months from 62.4 million yuan or five fen per share a year earlier.

26 Apr 2007 - 12:00am

Wumart in HK$1b step to No5 in retail ranks

Beijing supermarket giant to acquire 50 per cent stake in Jiangsu store group

Wumart Stores, Beijing's largest supermarket chain, will buy 50 per cent of Jiangsu Times Supermarket for HK$1.14 billion to become China's No5 retailer.

9 Sep 2006 - 12:00am

Wumart buys stake in Ningxia retailer

Wumart Stores, Beijing's largest supermarket chain, has acquired a 27.7 per cent stake in retail operator Xinhua Co for 176.7 million yuan to expand into northwestern China.

Xinhua, listed on the Shanghai stock exchange in 1997, principally operates four department stores and 23 supermarkets in Yinchuan, the capital of Ningxia.

11 Apr 2006 - 12:00am

Wumart bullish on Beijing prospects

Wumart Stores, the largest supermarket chain in Beijing, believes the capital city will follow Hong Kong's business model: the bigger the better.

3 Mar 2006 - 12:00am

Wumart on course for expanding store space

Beijing supermarket chain Wumart Stores is planning a capital outlay of $160 million in the second half, primarily to add about 60,000 square metres of saleable area, according to director of finance, Xu Ying.

11 Aug 2005 - 12:00am