About Sun Art Retail Group Limited
Sun Art is a leading retailer with hypermarket and omni-channel e-commerce businesses in China. Sun Art operates its business with hypermarkets, superstores and membership stores under RT-Mart, RT-Super and M-Club. As of 31 March 2024, Sun Art had a total of 472 hypermarkets, 32 superstores and three membership stores in China with a total gross floor area (“GFA”) of approximately 13.52 million square meters, covering 207 cities across 29 provinces, autonomous regions and municipalities. The Group has always been committed to high quality-to-price ratio and the customer value of health and pleasure by providing high-quality shopping experience for customers with fresh and inexpensive commodities, comfortable and convenient environment, as well as lump-sum buying. The Group aims to become life service centers, a good neighbor of communities and a trustworthy shopping representative of customers.
As of 31 March 2021, Taobao China Holding Limited (“Taobao China”) directly or indirectly holds 78.70% of the issued share capital of Sun Art Retail Group Limited (the “Group”) and therefore has become the ultimate controlling shareholder of the Group.
Sun Art has integrated online and offline professional capabilities, explored new retail development opportunities in China's retail industry, so as to become a leader in digital transformation of physical retail and a benchmarking enterprise for New Retail.
Business and Strategy Progress
During the fiscal year, the online business sales accounted for approximately 29% of the Group's total revenue, of which B2C business accounted for about 22%. Sales derived from the Group’ s own App accounted for about 36% of the B2C business. The Group has accelerated the expansion of sales on third-party platforms starting from the fourth quarter of the fiscal year.
The Group has three membership stores opened in Yangzhou, Nanjing and Changzhou. Another four membership store projects have been launched and will be located in Changshu, Jiaxing, Wuxi and Jiangyin respectively. During the fiscal year, the number of paid members of the first M-Club store has exceeded 60,000, with a total number of members surpassing 110,000. The Group has started recruiting members in Changshu and Jiaxing. During the fiscal year, the cumulated number of paid members was approximately 140,000, and the total number of members was approximately 240,000.
In the future, the Group will fully leverage the foundation built by RT-Mart over the years to fully utilize its advantages and focus on stabilizing and increasing revenue scale, continuously refine and optimize the profit models of membership stores and superstores, accelerate the optimization of regional deployment and improve tail-end stores, resolutely reduce costs and increase efficiency, and streamline organization, in order to turn losses into profits. The Group will benefit customers with tangible discounts and high-quality products, foster employees’ unity and dedication, and make RT-Mart a thriving and prosperous entity.
