- Business
- Sanjiang Shopping Club Co., Ltd. (601116.SS) operates a chain of supermarkets, innovative stores, and small-scale neighborhood and community stores primarily in Zhejiang Province, China, with Ningbo as its main market; the company, founded in 1995 and headquartered at Zhongxi Mansion, Lane 29, Xiaowen Street, Ningbo, offers a wide range of products including food, fresh produce, grain and oil, beverages, liquor and tobacco, daily necessities, knitting products, sports and entertainment items, cosmetics, cultural and office supplies. It conducts online sales through its Yuncai APP and mini-program, as well as platforms such as Taoxianda and Ele.me, alongside supply chain management, wholesale, retail, and trading services. In recent developments, Alibaba's unit announced plans in November 2025 to reduce its stake in the company by up to 3% between November 27, 2025, and February 26, 2026, following its earlier acquisition of a significant interest in 2016; the company reported earnings for the nine months ended September 30, 2024, and half-year results to June 30, 2024, while maintaining operations amid a competitive retail landscape with approximately 3,300 to 3,932 employees.