Yonghui Superstores has seen profit soar nearly forty percent during the first financial quarter as the Chinese supermarket business boosted sales during the coronavirus pandemic.
The firm is partly owned by both online giants Tencent and JD and reported RMB1.57 billion (US$222.47 million) in net profits as part of its financial report filed with Shanghai’s stock exchange.
Yonghui Superstores profit during the global pandemic may be attributable to moves to accelerate the integration of its online and offline retail channels throughout the period, during which the firm saw a 239-per-cent increase in direct deliveries to customers.
