​

  ​ ​ ​

​

  ​ ​ ​

​

  ​ ​ ​

Percentage of

  ​ ​ ​

​

​

​

​

​

Place of

​

ownership

​

​

​

​

Particulars of

​

incorporation/

​

interest

​

​

​

​

issued shares

​

registration and

​

attributed

​

​

 Name

​

held

​

business

​

to the Group

​

Principal activity

Yonghui Superstores Co., Ltd. (“Yonghui”)

Ordinary shares

Chinese Mainland

29.4

%  

Retail

 ​

  ​ ​ ​

As at December 31,

​

​

2025

 ​

​

  RMB’000

Current assets

10,342,184

​

Non-current assets, excluding goodwill

27,615,155

​

Goodwill on acquisition of the associate

3,279,036

​

Current liabilities

(18,674,518)

​

Non-current liabilities

(11,950,509)

​

​

​

​

​

Net assets

10,611,348

​

Net assets, excluding goodwill

7,332,312

​

Non-controlling interests

86,486

​

Net assets attributable to the parent, excluding goodwill

7,418,798

​

​

​

​

​

Reconciliation to the Group’s interest in the associate:

  ​

​

Proportion of the Group’s ownership

29.4

%

Group’s share of net assets of the associate, excluding goodwill

2,181,127

​

Goodwill on acquisition (less cumulative impairment)

3,279,036

​

​

​

​

​

Carrying amount of the investment

5,460,163

​

​

  ​ ​ ​

For the period

​

​

from the

​

​

acquisition date to

​

​

December 31,

​

​

2025

​

​

RMB’000

Revenue

35,455,246

Loss for the period

(2,764,232)

Other comprehensive loss

(3,559)

Total comprehensive loss for the period

(2,767,791)

​

​

​

(Where there is a quoted market price for the material associate)

  ​

Fair value of the Group’s investment

12,513,555

 ​

​

As at December 31,

 ​

​

2024

​

2025

 ​

  ​ ​ ​

RMB’000

  ​ ​ ​

RMB’000

Share of the associates’ profit for the year

22,915

13,663

Share of the associates’ total comprehensive income

22,915

13,663

Aggregate carrying amount of the Group’s investments in the associates

38,567

12,810