Articles by 黑马哥

The King of Chinese Convenience Stores: Can Yijie Convenience, with 23,000 Stores, Become China's 7-11?

On December 14, Bloomberg reported that Sinopec, the world's largest oil refiner, plans to spin off its gas station and convenience store business, with a Hong Kong listing expected next year, potentially raising up to $10 billion (approximately HK$78 billion or RMB 69 billion). This news has shaken the industry. Public market data shows that as early as early 2015, Sinopec already had 30,000 gas stations and 23,000 convenience stores under the Yijie brand, far exceeding the combined store count of mainstream convenience store chains 7-11 and Meiyijia in China. Based solely on store numbers, Yijie Convenience can be called China's "King of Convenience Stores."