China Nepstar Chain Drugstore Announces Management Change

SHENZHEN, China, Nov. 30, 2010 /PRNewswire-Asia/ -- China Nepstar Chain Drugstore Ltd. (NYSE: NPD) ("Nepstar" or "the Company"), the largest retail drugstore chain in China based on the number of directly operated stores, announced today the resignation of its Chief Financial Officer, Mr. William Weili Dai, effective November 30, 2010. Mr. Dai is leaving Nepstar due to personal reasons.

Mr. Zixin Shao, vice president and financial controller of the Company, has been appointed by the Board of Directors as Chief Financial Officer. Mr. Zixin Shao joined the Company in 2003. Prior to that, he worked as a director, vice general manager and chief financial officer in China Resources Supermarket (Suzhou) Co., Ltd. from 1999 to 2001. From 1992 to 2002, he also held financial management position at China Resources Supermarket (HK) Co., Ltd. Mr. Shao received a bachelor's degree in accounting from the University of International Business and Economics in China in 1992. Mr. Shao is a PRC certified accountant.

"We thank William for his contribution and wish him every success in the future," stated Simin Zhang, Chairman of Nepstar. "As Mr. Shao has been instrumental to our financial management and internal control for many years, we look forward to a smooth transition. We remain confident and enthusiastic about our business transition and future growth potential."

About China Nepstar Chain Drugstore Ltd.

China Nepstar Chain Drugstore Ltd. (NYSE:NPD - News) is China's largest retail drugstore chain based on the number of directly operated stores. As of September 30, 2010, the Company had 2,577 stores across 74 cities, one headquarter distribution center and 13 regional distribution centers in China. Nepstar uses directly operated stores, centralized procurement and a network of distribution centers to provide its customers with high-quality, professional and convenient pharmacy services and a wide variety of other merchandise, including OTC drugs, nutritional supplements, herbal products, personal care products, family care products, and convenience products including consumables. Nepstar's strategy of centralized procurement, competitive pricing, customer loyalty programs and private label offerings has enabled it to capitalize on the robust economic growth in China and to take advantage of the demographic trend in China to achieve a strong brand and leading market position. For further information, please go to

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's strategic operational plans and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.


In China:

Lucia Qian

China Nepstar Chain Drugstore Ltd.

Vice President, IR

Phone: +86-755-2641-4065


In the United States:

Dixon Chen


Investor Relations

Tel: +1-646-284-9403


Ivette Almeida


Media Relations

Tel: +1-646-284-9455


Source: China Nepstar Chain Drugstore Ltd.
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Keywords: Retail Supermarkets