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Yonghui Fresh Food

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Dongcheng District, ChinaFounded 2015Food

Valuation $1–2.5B Last recorded · 2023

Headcount <100 Current team size

Total funding $100–500M Disclosed equity funding

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About Yonghui Fresh Food

Yonghui Fresh Food operates as a national B2B food supply chain solutions provider in China, originating as an internal project of the Yonghui Superstores group in 2015 before spinning off as an independent company. The firm was established to address inefficiencies in the fresh food sector, such as high spoilage rates and a lack of standardization. It has since evolved into a significant player in the B2B food supply market. The company is led by CEO Li Jianbo, who previously served as the president of Yonghui Superstores and has a background in logistics and consulting with companies like P&G and IBM.

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The company's business model is centered on providing one-stop fresh ingredient solutions to a diverse client base. This includes government entities, corporate canteens, hospitality and catering businesses, and other retail chains. A key part of their operation involves large-scale, centralized fresh food processing factories and warehouses, which handle procurement, processing, and distribution. Revenue is generated through the direct sale and supply of these food products and ingredients to their business clients. Additionally, the company offers employee benefit programs through a B2B2C model.

Yonghui Fresh Food's service is distinguished by its extensive infrastructure, which includes 38 large-scale fresh food central factories and warehouses across China, covering 23 provinces. This network allows for end-to-end digital fulfillment, from order placement to delivery, ensuring timeliness and accuracy. A significant feature is its independently developed food safety cloud network, which implements a comprehensive traceability system using QR codes to provide customers with inspection results and traceability reports for every order and product. The company has served as a key supplier for major national events, including the 2022 Beijing Winter Olympics and the 100th anniversary celebration of the Communist Party.

The company has secured substantial financial backing from prominent investors. In 2018, it received a significant investment from Hillhouse Capital and Sequoia China. This was followed by a 1 billion RMB strategic financing round in December 2020, with participation from Tencent, CICC, and others, which valued the company at 7.5 billion RMB. As of a December 2023 financing round, Yonghui Superstores remained the largest shareholder with a 32.33% stake. Another strategic investment was made by a state-owned fund from Yulin, Shaanxi, in late 2023. In 2019, Yonghui Fresh Food generated 3.194 billion RMB in revenue, and in the first nine months of 2020, it had already reached 3.08 billion RMB. Keywords: B2B food supply, fresh food solutions, food supply chain, ingredient procurement, China food service, corporate catering supply, food processing, food traceability, institutional food supply, fresh produce distribution, supply chain logistics, B2B e-commerce, food safety management, catering solutions, restaurant suppliers, hotel food supply, school catering, food logistics, centralized kitchen, food tech

Source: Dealroom company data