Expansion of Foshan Market Branch and Further Extend the Network
HONG KONG, Nov. 10 /Xinhua-PRNewswire/ -- Jiahua Stores Holdings Limited ("Jiahua Stores" or "the Group", HKEx: 602) is pleased to announce the grand opening of its new store on 8 November 2008, which is located at Ronggui in Guangdong Foshan. The opening has increased the Group's stores number to 14, indicating a further expansion of its sales network.
The newly opened Ronggui branch is situated in Zhenhua Road, Shunde city of Guangdong Foshan. It is a necessary pathway with high visitor flow rate for the residents and is beneficial for the Group to attract the extremely high customer flow in the area. The new store has 3 stories with the total operational area of approximately 10,147 square meters, principally run with complementary department store and supermarket sections. Matched up with complete facilities nearby, the new branch has around 90 car parking space, it provides consumers with a "one-stop" shopping experience.
Mr. Zhuang Lukun, Chairman of Jiahua Stores Holdings Limited said, "Following the opening of Foshan Yanbu Store, the Group's retail network in Pearl River Delta Region is further expanded. Along with the Yanbu Store stepped into Gangdong Foshan retail market successfully, the establishment of this new shop will be able to meet the consumers' demand in this area, it also helps the Group to increase its market share and generate more revenue and profit for the Group."
Regarding the Group's future development, Mr. Zhuang concluded, "In spite of global economic downturn, we are still optimistic with the development of the PRC retail market. We currently operate 14 stores in Shenzhen and other district in Guangdong. In the pipeline, 2 more shops in Panyu district of Guangdong and Nanning City of Guangxi are expected to be launched by the end of the year or early next year. In the future, we will strive to expand our network and market share with ways of JV, co-operation, merger and acquisition. We believe that such initiatives will help Jiahua Stores to grasp more opportunities and deliver the better returns for our investors."
For further information, please contact:
Ms. Kelly Fung
Tel: +852-3150-6763
Email: kelly@pordafinance.com.hk
