China BCT Pharmacy, Inc., a company that engages in pharmaceutical distribution, pharmacy retailing, and the manufacture of pharmaceuticals products in the People’s Republic of China, recently announced that the Company is currently in the final stages of launching eleven new retail pharmacy stores in Guangxi.
The new retail stores are primarily located in Liuzhou City and Liucheng County and are, on average, a size of 67 square meters. The company has estimated that the total upfront capital investment that is needed to complete site renovations for the new stores is approximately RMB 6.1 million ($1.0 million). Management anticipates that the 11 stores will come together to generate approximately RMB 8.8 million ($1.4 million) in annual sales once they have reached a level of maturity, with a payback period of about four and a half years. China BCT is currently in process of obtaining all of the necessary licenses for the businesses and will be completely operational by the end of this year.
“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.
For more information on China BCT Pharmacy Inc and its new retail pharmacy stores, visit their website at www.china-bct.com
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