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| Wumart Stores was founded in Beijing in 1994, and primarily operates in Beijing and its surrounding areas. By the end of 2009, Wumart Stores had 469 outlets comprising 76% mini-marts and 24% superstores that were directly owned or operated and managed through franchise agreements and management agreements.
In August 2009, the company announced plans to raise HK$1.65bn through a placement of shares to TPG Capital and Hony Capital that could pave the way for an eventual listing on the mainland either in Shenzhen or Shanghai within three years. It has already listed on the Growth Enterprise Market of the Hong Kong Stock Exchange in November 2003, the second Chinese retailer to be listed in Hong Kong after Lianhua Supermarket Holdings. Revenue growth is slowing after years of rapid growth but is still growing at a double digit rate. Gross profit is continuing its steady climb, thanks to slower growth in costs of sales. Other revenue is increasing in importance, rising from 9.12% of revenue in 2004 to 12.09% in 2009. |
Additional Information
Access Asia’s Company Profile series of reports are meant to provide independent analysis on Chinese companies either in the news, or on the M&A radar. All company profiles contain contact details, company background and history, key activities in China, a SWOT analysis and key financial figures. We also include any key company events that have made the news, new product releases and branding activity.
