omniture

Huiyin Obtains Exclusive Distribution Rights for Renowned Chinese Air-Conditioner Brand

Huiyin Household Appliances (Holdings) Co., Ltd.
2011-09-05 21:49 5677

HONG KONG, Sept. 5, 2011 /PRNewswire-Asia/ -- Huiyin Household Appliances (Holdings) Co., Ltd. ("Huiyin" or the "Company" and, together with its subsidiaries, the "Group"; stock code: 1280), a retail chain operator and distributor of quality home appliances and consumer electronic products and a provider of after-sales services in the third and fourth-tier markets in eastern China, has made great progress in expanding its distribution network, and sees an enormous potential for its future growth. In addition, the Group has also confirmed to further accelerate its network expansion by opening a new self-operated store in Zhenjiang, Jiangsu province

Mr. Cao Kuanping, Chairman, Executive Director and CEO of Huiyin, said, "The development of China over the next 30 years is expected to be driven by the government's promotion of urbanization and rural consumption. The Group is engaged in retail, distribution and after-sales services with 16 years of excellent performance in the third and fourth-tier cities in eastern China. Therefore, we have a positive outlook for our business expansion and the development in such markets."

In light of the rapid development of our retail business, home appliance manufacturers are leveraging our retail chain to expand into Anhui. In August 2011, the Group obtained exclusive rights for the distribution of products of a renowned Chinese air-conditioner brand in Xuancheng, Anhui province, which is expected to generate significant distribution income for the Group. Xuancheng is a city in southeast Anhui that connects Jiangsu and Zhejiang provinces. It has an area of approximately 12,000 sq. km with a population of approximately 2.78 million. The Group operates three megastores in Xuancheng with an area of over 1,500 square meters. The grant of the distribution rights means the Group will replicate its successful retail and distribution model applied to Jiangsu province, enhancing both its competitiveness and market share in the new market.

As China's home appliance industry is growing rapidly in the third and fourth-tier cities, Huiyin has grasped the opportunity to expand its retail network through self-operated stores, franchised stores and acquisitions, and has obtained distribution rights for renowned brands in new markets to increase the profitability of its retail business and regional market share. The Group also operates one after-sales service store for every two retail stores to enhance its reputation as well as customer loyalty, and plans to expand its presence in the third and fourth-tier cities in eastern China through its retail, franchise, distribution and after-sales services. The new distribution rights means the Group has entered a new stage of increased replication of its business model and accelerated expansion.

About Huiyin Household Appliances (Holdings) Co., Ltd.

Huiyin is one of the leading household appliance enterprises in the third and fourth-tier cities in eastern China. It is a retail chain operator and distributor of quality home appliances and consumer electronic products as well as a provider of after-sales services. The Company focuses on retail, bulk distribution and after-sales services which are complementary to each other. With headquarters in Yangzhou, Jiangsu province, its sales and after-sales network presence in 31 cities/districts across Jiangsu province and Anhui province.

Issued by Porda Havas International Finance Communications Group for and on behalf of Huiyin Household Appliances (Holdings) Co., Ltd. For further information, please contact:

Porda Havas International Finance Communications Group

Peony Sze +852 3150 6766 peony.sze@pordahavas.com
Ivan Kau +852 3150 6778 ivan.kau@pordahavas.com
Mona Chow +852 3150 6765 mona.chow@pordahavas.com
Naomi Lai +852 3150 6714 naomi.lai@pordahavas.com
Fax: +852 3150 6728
Source: Huiyin Household Appliances (Holdings) Co., Ltd.
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