Zhongmin Baihui Retail Group Ltd. Officially Opens Third Major Mall: Yueshang Intime

Key Points from the Report

• Official Opening of Yueshang Intime Mall: The Group announced the grand opening of its third large-scale managed mall, Yueshang Intime (悦尚时光里), on 30 January 2026.
• Strategic Location: The new mall is strategically situated at the intersection of the new and old urban districts of Lvliang City, Shanxi Province—an important commercial link between the city’s railway station and airport.
• Significant Expansion of Managed Assets: With Yueshang Intime, the Group’s total managed large-scale mall footprint now exceeds 700,000 sqm.
• Ownership Structure: Zhongmin Baihui Retail Group Ltd. holds a 51% equity interest in the operating entity.
• Commercial Offering: The mall offers approximately 52,000 sqm of commercial space across six above-ground levels and two basement levels providing over 500 car park lots. It features a comprehensive range of shopping, dining, leisure, personal care, and experiential services.
• Leadership Statement: Executive Chairman Mr. Lee Swee Keng highlighted the opening as “another important milestone” in expanding the company’s large mall business.

Details Relevant to Shareholders and Potential Share Price Impact

The official launch of Yueshang Intime marks a significant growth milestone for Zhongmin Baihui Retail Group Ltd. With this opening, the company further consolidates its position as a leading managed mall operator in China, now surpassing 700,000 sqm in total managed mall space. The mall’s strategic location in Lvliang City, the second-largest city in Shanxi Province, positions it to benefit from high footfall due to its proximity to major transportation hubs—the railway station and airport.

Importantly, the Group’s 51% equity stake means that a majority of the operating profits and associated risks will be consolidated into the Group’s financial performance, potentially driving both topline and bottom-line growth. The new mall’s comprehensive service offerings, spanning from retail and dining to experiential services, are designed to capture a broad demographic, enhancing both rental yields and tenant mix quality.

This expansion is likely to be viewed favorably by investors as it demonstrates the Group’s continued execution of its growth strategy in mainland China, further diversifying its revenue base and reinforcing its footprint in key provinces such as Shanxi, Hunan, and Jiangsu. The announcement may be price sensitive, as it signals increased scale and potential for higher recurring management income, improved operational leverage, and a stronger competitive positioning in China’s retail sector.

Company Background

Zhongmin Baihui Retail Group Ltd. is a veteran player in the PRC retail sector, with more than 20 years of industry experience. The Group’s operations span integrated department stores, supermarkets in Fujian, and large-scale retail mall management across multiple provinces. The company has been listed on the Singapore Exchange since 2011, offering investors exposure to China’s evolving retail landscape.

Conclusion

The official opening of Yueshang Intime is a clear signal of Zhongmin Baihui Retail Group Ltd.’s growth ambitions and operational capabilities. Shareholders and prospective investors should monitor the ramp-up of this new asset and its contribution to the Group’s performance in upcoming financial periods.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research and consult professional advisers before making investment decisions. The information is based on the company’s media release and may be subject to change without notice.

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