China Nepstar Chain Drugstore Announces Management Appointments

Mar 16, 2011, 03:15 ET from China Nepstar Chain Drugstore Ltd.

SHENZHEN, China, March 16, 2011 /PRNewswire-Asia-FirstCall/ -- China Nepstar Chain Drugstore Ltd. (NYSE: NPD) ("China Nepstar" or the "Company"), the largest retail drugstore chain in China based on the number of directly operated stores, announced today the appointments of Acting Chief Executive Officer, Mr. Jason Xinghua Wu, as the Company's Chief Executive Officer, and Mr. Fuxiang Zhang as the Company's Chief Operating Officer, both effective immediately.

Mr. Wu became Acting CEO on June 2, 2010. He joined Nepstar in July 2008 and has worked as the vice general manager of the Company's Guangzhou branch, the regional general manager in charge of the Company's North China Region and was promoted to vice president of operations in March 2009 due to his outstanding performance. In June 2009, Mr. Wu was appointed as Chief Operating Officer of Nepstar.

Mr. Fuxiang Zhang joined Nepstar in 1997 and has been a vice president since 2006. From 2003 to 2006, Mr. Zhang served as the general manager of Shenzhen Nepstar Group Co., Ltd., one of the Company's regional Nepstar companies. From 2001 to 2003, he was the general manager of Nepstar Dalian. From 1999 to 2001, he served as the vice general manager of Nepstar Dalian. Mr. Zhang received a master's degree in 2010 and a bachelor's degree in 1997 from the Harbin Institute of Technology.

Mr. Simin Zhang, Chairman of China Nepstar commented, "On behalf of the board, I am pleased to announce these appointments. Under Mr. Jason Wu's leadership as Acting Chief Executive Officer, management of Nepstar has been working together in high spirit to progress in a challenging market environment.

"As a veteran at Nepstar, Mr. Fuxiang Zhang's understanding of our strategies and operations makes him ideal to help achieve the Company's goals in our transition.

"We look forward to the continued contributions from Jason and Fuxiang in executing our strategic plans and to build value for shareholders," Mr. Zhang concluded.

About China Nepstar Chain Drugstore Ltd.

China Nepstar Chain Drugstore Ltd. (NYSE: NPD) is China's largest retail drugstore chain based on the number of directly operated stores. As of December 31, 2010, the Company had 2,547 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 http://www.nepstar.cn

Contacts

In China:

Lucia Qian

China Nepstar Chain Drugstore Ltd.

Vice President, IR

Phone: +86-755-2641-4065

Email: qianrt@nepstar.cn

In the United States:

Dixon.Chen@grayling.com

Grayling

Investor Relations

Tel: +1-646-284-9403

Email: dixon.chen@grayling.com

Ivette Almeida

Grayling

Media Relations

Tel: +1-646-284-9455

Email: ivette.almeida@grayling.com

SOURCE China Nepstar Chain Drugstore Ltd.



RELATED LINKS

http://www.nepstar.cn