Yosen Group Opens Additional Super Specialty Stores In Hangzhou, China
HANGZHOU, China, Jan. 29, 2014 /PRNewswire/ -- Yosen Group, Inc. (stock symbol: YOSN) ("Yosen", or "the Company") today announced the opening of new Super Specialty Stores in Hangzhou, Zhejiang Province, China. One of them was opened on January 18th, 2014 inside the Hangzhou Zhuantang branch of China Resources ("CR") Vanguard, one of the well-known China national shopping outlets. Yosen's store occupies an operational area of approximately 25 square meters (or approximately 269 square feet). Another new store was opened on January 25th inside Century Lianhua's ("Lianhua") West Lake Culture Square Store, the busiest central business district in the city of Hangzhou, and occupies an area of approximately 50 square meters (or approximately 538 square feet). These stores are an addition to what Yosen already opened earlier last year in cooperation with China Telecom.
Yosen's CEO, Mr. Zhenggang Wang, commented, "Yosen has had long established cooperative relationships with large-scaled super markets such as China Resources Vanguard and Century Lianhua. Our strategic collaboration with China's dominant telecom operators such as China Telecom and China Unicom further enhanced our negotiation power. With that, Yosen has been able to sign with the best performing branches of mass merchandisers and secure the best locations to open our Super Specialty Stores. Our timely press release of last two weeks' store openings is to indicate Yosen's commitment to strengthening our investor relations this year. We plan to engage an Investor Relations firm over the next few months and enhance our effective communication with investors while providing more updates all around."
About Yosen Group, Inc.
Yosen Group, Inc. ("Yosen Group", or "Yosen") is an award-winning wholesale distributor and retailer of 3C merchandise: computers, communication products and consumer electronics. The company specializes in wholesale distribution and retail sales of 3C products in Eastern China, focusing on products that make life more comfortable, convenient and connected. With a commitment to provide one-stop shopping convenience for consumers overall, Yosen Group initiated a unique Super Specialty Store model under which Yosen collaborates with, and in some cases, co-brands with China's dominant telecommunication operators including China Telecom, China Unicom and China Mobile, and sells their products and services in designated Yosen stores within mass merchandisers. Yosen Group is headquartered in Hangzhou, Zhejiang Province, the People's Republic of China. Through its U.S. subsidiary, Yosen Trading Inc., the company is strategically positioned to bring the world's best consumer products to China and simultaneously introduce China's most competitive products to the overseas market. The company operates under the Yosen and Wang Da brand names.
For more information, visit http://www.yosn.com/.
Lianhua Supermarket Holdings was established in 1991. As of the end of 2011, there were approximately 5,150 supermarkets under Lianhua and its subsidiaries and affiliates, covering 19 provinces across China. Lianhua was the first Chinese supermarket chain listed on Hong Kong Stock Exchange.
About CR Vanguard
CR Vanguard, a retail chain operator, is a subsidiary of CR Group, a Fortune Global 500 company with 5 businesses listed on Hong Kong Stock Exchange. CR Vanguard owns and operates various well-known retail brands. CR Vanguard supermarket has been ranked #1 in China for a number of consecutive years. In 2012 it achieved sales of approximately 94.1 billion RMB (or approximately 15 billion USD), with 4,425 supermarket locations across China and more than 200,000 employees.
Safe Harbor Statement
Certain statements in this press release, constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding the Company's future performance. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the periodic reports that are filed with the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.
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SOURCE Yosen Group, Inc.