Best Mart 360

Best Mart 360 (Chinese: 優品360) is a chain store in Hong Kong that sells snacks. The company operates 103 stores as of January 2019.[4]

Best Mart 360
Public
Traded asSEHK: 2360
IndustryFood retailing
Founded2013 (2013)
Headquarters14/F, SML Tower
165 Hoi Bun Road
Kwun Tong, Kowloon
Hong Kong
Number of locations
 (2019)
Area served
Hong Kong
Macau
Key people
Hui Chi Kwan[3]
Lin Tsz Fung[3]
Number of employees
723 (2019)
Websitebestmart360.com

Best Mart 360 was founded in 2013, with its first store in Sheung Shui. It initially targeted tourists, though it has also started to cater to Hong Kong residents following a decline in tourists visiting Hong Kong in 2016. Its main competitor is 759 Store.[4] The company was listed on the Hong Kong Stock Exchange in January 2019.[5]

The Securities and Futures Commission completed an enquiry into the shareholding of Best Mart 360 in June 2019, finding that Best Mart 360 had a high concentration of shareholding. As at 23 May 2019, the top 20 shareholders held 95.77% of the company's shares, of which 75% was held by controlling shareholder Long Ease Holdings Limited, a company 50% owned by Lin Tsz Fung. The SFC warned shareholders to exercise extreme caution when dealing in the shares of the company, noting that the price of the shares could fluctuate substantially even with only a small number of shares traded.[6]

Best Mart 360 was one of the main targets to be vandalised during 2019–20 Hong Kong protests because it was accused of having ties to "Fujian gangs" that clashed with anti-government demonstrators.[7] In response, the company decided to shift focus to Mainland Chinese market to reduce dependence on Hong Kong market, including the plan to open 15 to 20 stores in Macanese market within two years, while denying that the company has connection with Fujian gangs.[8] Despite the damages caused by the demonstrators, the company decided to keep operating the 72 damages stores out of total 102 stores in Hong Kong.[1]

The first store in Macau was opened on December 17, 2019, while additional 2 stores which the company had rented will be open on an unspecified date.[2]

References
  1. Jim, Clare (November 18, 2019). "Hong Kong's Best Mart 360 to keep stores open despite attacks". The Star. Malaysia. Retrieved February 10, 2020.
  2. Ka-sing, Lam (December 17, 2019). "Hong Kong-listed chain Best Mart 360, which had 75 stores trashed during protests, opens in Macau". South China Morning Post. Hong Kong. Retrieved February 10, 2020.
  3. "Annual Report 2018/2019" (PDF). Best Mart 360 Holdings Limited. 2019.
  4. 許, 世豪; 林, 樂謙 (1 January 2019). "【優品360上市】吸金勁過阿信屋　4大「對決」拆解優品彈起原因" (PDF). HK01. Archived from the original on 27 January 2019. Retrieved 2019-01-26.
  5. 蕭, 嘉聰 (28 December 2018). "優品360跨年招股2424元入場 林子峰：未來4年開76間分店". Ming Pao. Archived from the original on 26 January 2019. Retrieved 2019-01-26.
  6. "High Concentration of Shareholding in Best Mart 360 Holdings Limited (Stock Code: 02360)" (PDF). Securities and Futures Commission. 5 June 2019. Archived (PDF) from the original on 3 October 2019. Retrieved 4 October 2019.
  7. "Dozens of Best Mart 360 shops vandalised in protests, company reveals". South China Morning Post. October 17, 2019. Archived from the original on October 17, 2019. Retrieved October 20, 2019.
  8. Ka-sing, Lam (November 28, 2019). "Best Mart 360 shuns 'war zone' Hong Kong for mainland China in growth plan after protesters trash 75 of its 102 stores". South China Morning Post. Hong Kong. Retrieved February 10, 2020.
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