曾是千亿“超市一哥”：三年亏掉百亿，董事长拟减持1%股份
<section data-role="paragraph" style="visibility: visible;"><p style="line-height: 1em; visibility: visible;"><span leaf="" style="visibility: visible;"><br style="visibility: visible;"/></span></p></section><p><br/></p><section data-role="paragraph" style="visibility: visible;"><section nodeleaf="" style="visibility: visible;"></section></section><section data-role="paragraph" style="text-align: justify; visibility: visible;"><p style="font-size: 16px; margin-top: 10px; margin-bottom: 10px; line-height: 2em; text-indent: 2.125em; visibility: visible;"><span style="letter-spacing: 1px; visibility: visible;"><span leaf="" style="visibility: visible;">近日，永辉超市发布公告称，公司董事长张轩松及其一致行动人因自身资金需求，计划通过集中竞价交易方式减持公司股份不超过9075万股，占公司总股本的1%。</span><span style="color: rgb(192, 0, 0); visibility: visible;"><span leaf="" style="visibility: visible;">以公告当日收盘价4.74元/股估算，本次减持最高可套现约4.3亿元</span></span><span leaf="" style="visibility: visible;">。</span></span></p><p style="font-size: 16px; margin-top: 10px; margin-bottom: 10px; line-height: 2em; text-indent: 2.125em; visibility: visible;"><span style="letter-spacing: 1px; visibility: visible;">此次减持计划发布前，永辉超市于10月底披露的三季度报告显示，公司业绩持续承压。今年前三季度，公司实现营业收入424.34亿元，同比下滑22.21%；归母净利润为亏损7.1亿元，同比下降811.6%。自2021年以来，公司累计亏损已超过百亿元。</span></p></section><section data-role="paragraph" style="visibility: visible;"><p style="line-height: 1.5em; visibility: visible;"><span leaf="" style="visibility: visible;"><br style="visibility: visible;"/></span></p></section><section data-role="title" data-tools="135编辑器" data-id="162009" style="visibility: visible;"><section style="margin: 10px auto; display: flex; justify-content: center; visibility: visible;"><section style="visibility: visible;"><section style="display: flex; justify-content: center; padding: 10px 0px 5px; box-sizing: border-box; visibility: visible;"><section style="display: flex; flex-direction: column; z-index: 5; visibility: visible;"><section style="width: 36px; height: 42px; box-sizing: border-box; visibility: visible;"><svg xmlns="http://www.w3.org/2000/svg" viewbox="0 0 72 84" style="display: block; visibility: visible;" role="img" aria-label="插图"><path data-name="多边形 1" style="fill: rgb(192, 0, 0); fill-rule: evenodd; visibility: visible;" d="M374,877l-36,21-36-21V835l36-21,36,21v42Z" transform="translate(-302 -814)"></path></svg></section><section style="width: 36px; height: 42px; margin-top: -42px; z-index: 9; display: flex; justify-content: center; align-items: center; box-sizing: border-box; visibility: visible;"><section style="font-size: 16px; letter-spacing: 1.5px; color: rgb(255, 255, 255); visibility: visible;"><strong style="visibility: visible;">0</strong><strong data-original-title="" title="" style="visibility: visible;">1</strong></section></section></section></section><section style="font-size: 18px; color: rgb(192, 0, 0); text-align: center; visibility: visible;"><p style="margin-bottom: 8px; visibility: visible;"><span style="visibility: visible;"><strong data-brushtype="text" style="visibility: visible;">高层减持与财务压力</strong></span></p></section></section></section></section><section data-role="paragraph" style="visibility: visible;"><p style="font-size: 16px; margin-bottom: 10px; line-height: 2em; text-indent: 2.125em; margin-top: 0px; visibility: visible;"><span style="letter-spacing: 1px; visibility: visible;">张轩松及其一致行动人目前合计持有永辉超市约12.75亿股，占总股本的14.05%。本次拟减持股份来自其一致行动人喜世润合润6号私募证券投资基金，占该基金持股的53%。</span></p><p style="font-size: 16px; line-height: 2em; margin-top: 0px; text-indent: 0em; visibility: visible;"><span style="letter-spacing: 1px;"></span></p><p style="font-size: 16px; margin-bottom: 10px; line-height: 2em; text-indent: 2.125em;"><span style="letter-spacing: 1px; color: rgb(192, 0, 0);">近期永辉超市多位重要股东实施减持</span><span style="letter-spacing: 1px;">。11月7日，公司副总裁罗雯霞减持股份套现49.89万元；今年7月，北京京东世纪贸易有限公司减持1.14亿股，套现逾6亿元，此后不再为公司持股5%以上股东。</span></p><p style="font-size: 16px; margin-top: 10px; margin-bottom: 10px; line-height: 2em; text-indent: 2.125em;"><span style="letter-spacing: 1px; color: rgb(192, 0, 0);">股东减持背后是公司持续的财务压力</span><span style="letter-spacing: 1px;">。2025年第三季度，永辉超市营收124.86亿元，同比下滑25.55%；归母净亏损4.69亿元，同比扩大超过30%。截至三季度末，公司资产负债率达88.96%，流动性压力较为显著。</span></p></section><section data-role="paragraph"><p style="line-height: 1.5em;"><span leaf=""><br/></span></p></section><section data-role="title" data-tools="135编辑器" data-id="162009"><section style="margin: 10px auto;display: flex;justify-content: center;"><section><section style="display: flex;justify-content: center;padding: 10px 0 5px;box-sizing:border-box;"><section style="display: flex;flex-direction: column;z-index: 5;"><section style="width: 36px;height: 42px;box-sizing:border-box;"><svg xmlns="http://www.w3.org/2000/svg" viewbox="0 0 72 84" style="display: block;" role="img" aria-label="插图"><path data-name="多边形 1" style="fill: #c00000;fill-RULE: EVENODD;" d="M374,877l-36,21-36-21V835l36-21,36,21v42Z" transform="translate(-302 -814)"></path></svg></section><section style="width: 36px;height: 42px;margin-top: -42px;z-index: 9;display: flex;justify-content: center;align-items: center;box-sizing:border-box;"><section style="font-size: 16px;letter-spacing: 1.5px;color: #ffffff;"><strong>02</strong></section></section></section></section><section style="font-size: 18px;color: #c00000;text-align: center;"><p style="margin-bottom: 8px;"><strong data-brushtype="text">战略转型与门店改造</strong></p></section></section></section></section><section data-role="paragraph"><p style="margin-bottom: 10px; line-height: 2em; text-indent: 2.11764em;"><span style="letter-spacing:1px;"><span leaf="">面对经营困境，永辉超市自</span><span style="color: rgb(192, 0, 0);"><span leaf="">2024年</span></span><span leaf="">起启动战略调整，</span><span style="color: rgb(192, 0, 0);"><span leaf="">引入胖东来模式进行门店改造</span></span><span leaf="">。这一转型与公司股权结构变化同步：2024年9月，名创优品斥资62.7亿元收购永辉29.4%股份，成为第一大股东。名创优品创始人叶国富出任改革领导小组组长，明确将胖东来模式作为公司转型方向。</span></span></p><p style="margin-bottom: 10px; line-height: 2em; text-indent: 0em;"><span style="letter-spacing:1px;"></span></p><p style="margin-top: 10px; margin-bottom: 10px; line-height: 2em; text-indent: 2.11764em;"><span style="letter-spacing:1px;"><span leaf="">截至2025年9月，永辉全国450家门店中已有222家完成调改，占比近半。据永辉超市新任CEO王守诚介绍，</span><span style="color: rgb(192, 0, 0);"><span leaf="">调改门店客流平均增长80%，超过60%进入稳定期的门店盈利水平超过过去五年最高值</span></span><span leaf="">。</span></span></p><p style="margin-top: 10px; margin-bottom: 10px; line-height: 2em; text-indent: 2.11764em;"><span style="letter-spacing:1px;">门店层面的具体变化包括：郑州瀚海北金店基层员工月薪从3500元提升至5000元，SKU从过万种精简至约6000种，生鲜占比提升至55%。北京旧宫店调改后客单价从98元提升至125元，生鲜损耗率从12%降至7%，毛利率提升3个百分点。</span></p></section><section data-role="paragraph"><p style="line-height: 1.5em;"><span leaf=""><br/></span></p></section><section data-role="title" data-tools="135编辑器" data-id="162009"><section style="margin: 10px auto;display: flex;justify-content: center;"><section><section style="display: flex;justify-content: center;padding: 10px 0 5px;box-sizing:border-box;"><section style="display: flex;flex-direction: column;z-index: 5;"><section style="width: 36px;height: 42px;box-sizing:border-box;"><svg xmlns="http://www.w3.org/2000/svg" viewbox="0 0 72 84" style="display: block;" role="img" aria-label="插图"><path data-name="多边形 1" style="fill: #c00000;fill-RULE: EVENODD;" d="M374,877l-36,21-36-21V835l36-21,36,21v42Z" transform="translate(-302 -814)"></path></svg></section><section style="width: 36px;height: 42px;margin-top: -42px;z-index: 9;display: flex;justify-content: center;align-items: center;box-sizing:border-box;"><section style="font-size: 16px;letter-spacing: 1.5px;color: #ffffff;"><strong>03</strong></section></section></section></section><section style="font-size: 18px;color: #c00000;text-align: center;"><p style="margin-bottom: 8px;"><strong data-brushtype="text">转型阵痛与挑战</strong></p></section></section></section></section><section data-role="paragraph"><p style="font-size: 16px; margin-bottom: 10px; line-height: 2em; text-indent: 2.125em; margin-top: 0px;"><span style="letter-spacing: 1px;"><span leaf="">转型过程中，永辉超市也面临诸多挑战。</span><span style="color: rgb(192, 0, 0);"><span leaf="">公司门店数量从巅峰时期的1057家缩减至目前的450家</span></span><span leaf="">，两年内关闭约550家门店。据公司公告，今年三季度关闭104家超市产生损失6.12亿元，平均单店损失约600万元。</span></span></p><p style="font-size: 16px; margin-bottom: 10px; line-height: 2em; margin-top: 0px; text-indent: 0em;"><span leaf=""></span><span style="letter-spacing: 1px;"></span></p><p style="font-size: 16px; margin-top: 10px; margin-bottom: 10px; line-height: 2em; text-indent: 2.125em;"><span style="letter-spacing: 1px;"><span leaf="">现金流方面，2025年第三季度经营活动产生的</span><span style="color: rgb(192, 0, 0);"><span leaf="">现金流量净额由上年同期的8.36亿元转为-0.68亿元</span></span><span leaf="">。</span></span></p><p style="font-size: 16px; margin-top: 10px; margin-bottom: 10px; line-height: 2em; text-indent: 2.125em;"><span style="letter-spacing: 1px; color: rgb(192, 0, 0);">胖东来模式的落地效果也引发一些讨论</span><span style="letter-spacing: 1px;">。部分消费者反映，调改后的门店“员工服务态度改善不明显，商品价格有所上调”。还有员工表示，调改后工作量增加，但实际收入变化有限。</span></p></section><section data-role="paragraph"><p style="line-height: 1.5em;"><span leaf=""><br/></span></p></section><section data-role="title" data-tools="135编辑器" data-id="162009"><section style="margin: 10px auto;display: flex;justify-content: center;"><section><section style="display: flex;justify-content: center;padding: 10px 0 5px;box-sizing:border-box;"><section style="display: flex;flex-direction: column;z-index: 5;"><section style="width: 36px;height: 42px;box-sizing:border-box;"><svg xmlns="http://www.w3.org/2000/svg" viewbox="0 0 72 84" style="display: block;" role="img" aria-label="插图"><path data-name="多边形 1" style="fill: #c00000;fill-RULE: EVENODD;" d="M374,877l-36,21-36-21V835l36-21,36,21v42Z" transform="translate(-302 -814)"></path></svg></section><section style="width: 36px;height: 42px;margin-top: -42px;z-index: 9;display: flex;justify-content: center;align-items: center;box-sizing:border-box;"><section style="font-size: 16px;letter-spacing: 1.5px;color: #ffffff;"><strong>04</strong></section></section></section></section><section style="font-size: 18px;color: #c00000;text-align: center;"><p style="margin-bottom: 8px;"><strong data-brushtype="text">未来发展路径</strong></p></section></section></section></section><section data-role="paragraph"><p style="font-size: 16px; margin-bottom: 10px; line-height: 2em; text-indent: 2.125em; margin-top: 8px;"><span style="letter-spacing: 1px;">随着转型深入，永辉超市管理层完成新老交替。2025年10月，新任CEO王守诚在永辉首届新品发布会上亮相。现年34岁的王守诚于2017年以管培生身份加入永辉，后担任改革领导小组副组长，主导门店调改项目。</span></p><section style="text-align: center;margin-bottom: 0px;" nodeleaf=""></section><p style="text-align: center; line-height: 1em; margin-bottom: 0px;"><span style="font-size: 13px;color: #7f7f7f;">永辉超市CEO王守诚解读永辉超市“人”的理念。</span></p><p style="font-size: 16px; margin-bottom: 10px; line-height: 2em; text-indent: 2.125em; margin-top: 10px;"><span style="letter-spacing: 1px; color: rgb(192, 0, 0);">公司正在多领域寻求突破：</span></p><p style="font-size: 16px; margin-top: 10px; margin-bottom: 10px; line-height: 2em; text-indent: 2.125em;"><span style="letter-spacing: 1px;">商品战略方面，推出“商品中心化”计划，目标与200个核心伙伴合作，打造100个亿元级单品；</span></p><p style="font-size: 16px; margin-top: 10px; margin-bottom: 10px; line-height: 2em; text-indent: 2.125em;"><span style="letter-spacing: 1px;">业态创新方面，在福州试点“餐饮+零售”融合店新模式；</span></p><p style="font-size: 16px; margin-top: 10px; margin-bottom: 10px; line-height: 2em; text-indent: 2.125em;"><span style="letter-spacing: 1px;">线上业务成为重点提升领域，前三季度线上收入占比18.33%，相比以往有所回落。</span></p><p style="font-size: 16px; margin-top: 10px; margin-bottom: 10px; line-height: 2em; text-indent: 2.125em;"><span style="letter-spacing: 1px;">业内分析认为，永辉超市有望在2026-2027年逐步走出改革深水区，待存量门店调改完成后或将实现减亏，预计2027年开始释放利润。</span></p><p style="font-size: 16px; margin-top: 10px; margin-bottom: 10px; line-height: 2em; text-indent: 2.125em;"><span style="letter-spacing: 1px;">从曾经的“生鲜超市第一股”到如今的全面转型，永辉超市正经历着零售业变革的关键时期。正如胖东来创始人于东来所言：“做企业不是跑百米赛，而是跑马拉松。”永辉的转型之路仍在继续。</span></p><p>via闽商网纵横</p></section><p><br/></p><p><br/></p><link rel="stylesheet" href="//www.fqlook.cn/source/plugin/wcn_editor/public/wcn_editor_fit.css?v134_cKz" id="wcn_editor_css"/> 抓紧时间套现。 董事长套现是什么情况啊？ 很多地方都关了 大势已去无力回天了！
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