Recently, Yu Donglai, the chairman of Henan Pangdonglai Trade Group, was invited to Zhongbai Holdings Group for exchange and guidance. Regarding the problems encountered in the transformation and development of Zhongbai Holdings Group, Yu Donglai made guiding suggestions from three aspects: closing unprofitable stores, adjusting operations of advantageous stores, and improving commodity quality control. Yu Donglai stated that Pangdonglai will comprehensively open its product catalog, share supply chain information with Zhongbai Holdings Group, and provide technical support for product development. According to Zhongbai Holdings Group, there has been no substantial progress in cooperation between the two sides. The team dispatched by Zhongbai Holdings Group for warehousing is still participating in immersive learning at the site where Pangdonglai team is adjusting and reforming Yonghui Superstores in Zhengzhou and will stay until the opening of Yonghui Superstores. It is expected that the team will have formal contact with Pangdonglai in June to negotiate the reform issue, but the specific progress will depend on subsequent developments. The company has selected two backup supermarkets for renovation negotiations. Pangdonglai responded to reporters saying that the company has not received any relevant notifications at present. Chairman Yu Donglai just went to take a look and has not received any notification regarding whether or not to reform Zhongbai Holdings Group. The follow-up should be based on the announcements of both parties. (China Securities Bull)