Youpin 360 is preparing to enter the mainland retail market. The first mainland retail store is expected to open after March next year.

Financial news

Written by: Zhang Weilun

2019-12-27 20:10

Youpin 360 (2360) is preparing to enter the Mainland market after landing in the Macau market this month. The company issued an announcement stating that a wholly foreign-owned enterprise was established in Shenzhen on December 24, named Shenzhen Youpin Sanlu Zero Commercial (Youpin 360 China). The Mainland enterprise intends to engage in the retail business of pre-packaged food, alcohol and beverages, grocery products, personal care products, baby food and products, health foods and supplements and miscellaneous household items in the Mainland.

The company pointed out that Youpin 360 China has not started any business operations and has not recorded any sales. Management is formulating an appropriate business plan to cater to the consumption habits and culture of the Mainland retail market. If nothing unexpected happens, it is expected that the first retail store in the Mainland will open in the next financial year.

The directors of the company believe that the expansion of the retail business into the mainland market will expand market coverage and customer networks. He also pointed out that the mainland has a large population and stable economic growth, which provides a favorable environment and conditions for the company's long-term business development, and has a long-term revenue growth. Constructive and supportive role.

Youpin 360 has been targeted by demonstrators many times in Hong Kong. (Profile picture)

Youpin 360, listed on January 11 this year, its major shareholder and chairman, Lin Zifeng, was accused of being involved in the North Point "Fujian Gang" beating in August. Even though Lin Zifeng has denied many times, his branch in Hong Kong has been targeted by demonstrators many times. When the company announced its interim results on the 27th of last month, it pointed out that a total of 75 retail stores were attacked and damaged to varying degrees during social movements.

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Fugitive Regulations Economy-Youpin 360