On the evening of May 15, Easy Home New Retail Group announced that the company intends to raise funds not exceeding RMB 4.560 billion (including the principal) by way of non-public issuance of A shares.
 
At the end of last year, Easy Home succeeded in backdoor listing of Wuhan Zhongshang. The first annual report handed over showed that its operating income reached 9.85 billion yuan, its net profit reached 3.126 billion yuan, and its net profit increased by 60.08% year-on-year. It completed its 2019 performance commitment during the reorganization with Wuhan Zhongnan Commercial Group.

According to the announcement, these funds are planned to be used for-store decoration renovation project 1.9 billion yuan, Zhongnan Commercial supermarket smart retail construction project 580 million yuan, big data platform construction project 270 million yuan, Easy Home Beijing Tianjin Hebei Smart Logistics Park project (two Period) 450 million yuan, supplementary working capital of 1.36 billion yuan.

Specifically, Easy Home intends to use the non-public raised funds of 1.9 billion yuan for "store renovation project". The project will renovate and upgrade 59 existing stores and 4 new stores, and install a smart fire-fighting Internet of Things system to carry out intelligent building renovation. The construction period of the project is expected to be 3 years.

Data shows that as of the end of 2019, the Easy Home pan-home business has 92 directly-operated stores and 263 franchised stores, covering first-tier cities to fifth-tier cities. The proportion of stores planned for renovation this time is quite high.

However, the company stated that the project did not directly generate economic benefits. After the completion of the project, it will further increase the number of business stores, enrich the business format of the stores, meet the consumer's one-stop shopping consumption needs in terms of home, life, entertainment, etc., in line with the company's development strategy of "big home" and "big consumption" . At the same time, the project widely uses energy-saving design and intelligent fire protection system to provide guarantee and support for energy-saving and safety of stores.