LIUZHOU CITY, China, Oct. 12, 2011 /PRNewswire-Asia/ -- China BCT Pharmacy Group, Inc., (OTC BB: CNBI) ("China BCT" or the "Company"), a leading pharmaceutical distributor, retail pharmacy, and manufacturer of pharmaceutical products in Guangxi Province, China, today announced that the Company is in the final stages of launching 11 new retail pharmacy stores in Guangxi.
The new stores are primarily located in Liuzhou city and Liucheng County and have an average size of 67 square meters. The Company estimates that the total upfront capital investment required to complete site renovation for the new stores is approximately RMB 6.5 million ($1.0 million). Management expects the 11 stores together will generate approximately RMB 8.8 million ($1.4 million) in annual sales once they have reached maturity, with a payback period of approximately four and a half years. China BCT is in the process of obtaining the required business licenses and expects these stores will be fully operational by the end of 2011.
"The launch of these 11 self-opened stores will further strengthen our footprint in Guangxi by bringing the total number of 'Baicaotang' branded stores to 219," commented Mr. Hui Tian Tang, Chairman and Chief Executive Officer of China BCT Pharmacy Group, Inc. "These stores will offer a full range of pharmaceutical products supported by excellent customer service. We remain focused on continuing the vertical integration of our growing retail network and our wholesale distribution and manufacturing businesses to become the leading retail pharmacy in Guangxi," Mr. Tang added.
About China BCT
China BCT is engaged in pharmaceutical distribution, pharmacy retailing, and the manufacture of pharmaceuticals products through its subsidiaries Guangxi Liuzhou Baicaotang Medicine Limited, Guangxi Liuzhou Baicaotang Medicine Retail Limited, and Hefeng Pharmaceutical Co. Limited in Guangxi province, China. It operates a large regional retail network in Guangxi province, consisting of 219 directly owned retail stores in Guangxi province and currently over 8,000 products are distributed through the Company's wholesale distribution network. For more information, please visit www.china-bct.com.
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including: changes from anticipated levels of sales; future international, national or regional economic and competitive conditions; changes in relationships with customers; access to capital; difficulties in developing and marketing new products and services; marketing existing products and services; customer acceptance of existing and new products and services; and other factors detailed in the Company's periodic filings with the Securities and Exchange Commission (http://www.sec.gov). Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this presentation.
Investor Relations Contact:
Ms. Shelly Zhang, Chief Financial Officer
CCG Investor Relations
China BCT Pharmacy Group, Inc.
Mr. Crocker Coulson, President
Tel: (86) 772-363-8318
Ms. Linda Salo, Account Manager
SOURCE China BCT Pharmacy Group, Inc.