Yosen Group Opens New Stores with China Unicom in Hangzhou and Ningbo
Apr 19, 2013, 09:00 ET
HANGZHOU, China, April 19, 2013 /PRNewswire-FirstCall/ -- Yosen Group, Inc. (stock symbol: YOSN) ("Yosen", or "the Company") announced the launch of two super specialty stores in cooperation with China Unicom. The two stores are located at Hangzhou Century Lianhua ("Lianhua") Fengqing Branch, the busiest shopping center in Northern Hangzhou, Zhejiang Province, and China Resources ("CR") Vanguard of the City Ningbo, one of the well-known high-end shopping outlets also in Zhejiang province. Each store occupies a space of approximately 50 square meters (or approximately 540 square feet). Mr. Yuanchang Dai, the Deputy General Manager of China Unicom Hangzhou Branch ("China Unicom"), and Mr. Wang Zhenggang, CEO of Yosen, attended the opening ceremony.
Mr. Dai commented that China Unicom appreciates very much Yosen's innovative business model, and plans to broaden cooperation with Yosen in 2013 by providing more support of resources in similar super specialty stores. Yosen launched its first super specialty store earlier with China's another leading telecommunication player, China Telecom. Yosen's Mr. Wang stated that Yosen's goal is to "continue to strengthen our cooperation with all major telecom operators including China Unicom, enhance Yosen's channel value, and satisfy our customers' as well as our partners' needs."
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.
About Yosen Group, Inc.
Yosen Group is a leading 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. The company operates under the Yosen and Wang Da brand names. For more information, visit http://www.yosn.com/.
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.
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