(Yicai Global) Feb. 20 -- Zhongbai Holdings Group has supplied 85% of Wuhan's greenstuffs during the Covid-19 epidemic, the chain grocery company's board secretary told Securities Times today.

The firm's shares [SHE:000759] closed up a further 4.5 percent at CNY7.43 (USD1.06) at noon on the report, after having already climbed 15.5 percent since China's Lunar New Year holiday ended at the start of this month.

Zhongbai has average daily reserves of about 1,300 tons vegetables, 2,000 tons of fruit, 1,000 tons of aquatic products, 300 tons of pork and 330 tons of eggs, more than 10 times its usual stocks. Zhongbai is a large-scale operator of chain stores and the regional industry leader with 1,255 locations. The firm's net profit rose more than six-fold to CNY431 million in 2018. 

Tencent Holdings-backed grocery retailer Yonghui Superstores became the controlling shareholder in Wuhan-based Zhongbai in April, Yicai Global reported at the time. It was state-held before that.

Editor: Ben Armour