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| Capture Development Opportunities in China Market Further Expands Sales Network |
HONG KONG, Mar 20, 2015 - (ACN Newswire) - Hin Sang Group (International) Holding Co. Ltd. ("Hin Sang" or the "Group;" stock code: 6893), a brand management company and distributor with a focus on health care, personal care, skin care and household products, has signed a five-year cooperative agreement with Guangzhou City Up Join Medical Devices Company Limited ("New Distributor"), a distributor in Mainland China. From 1 April 2015 to 31 March 2020, the Group's "Hin Sang" self-branded products will be available for sale through the hospitals and OTCs covered by New Distributor's sales network across China.
Founded in Guangzhou, China, New Distributor has offices in Nanjing, Shanghai, Beijing and Chengdu. Its principal businesses include sales as an agent of drugs and sales of medical devices. It has an extensive pharmaceuticals sales network, covering major hospitals, pharmaceutical companies and pharmacies in Mainland China. The New Distributor is to sell the Group's best-selling products under its own brand "Hin Sang" including "Hin Sang Exquisite Packing Milk Supplement (Granules)" and "Hin Sang Health Star (Granules)" as well as the recently launched "Happy Baby Herbal Gummy Candy" series in the China market.
According to the authorised distribution agreement signed by the Group and New Distributor, the latter is required to meet annual sales targets and the target of new retail stores every year from 2015 to 2020, and both targets will increase progressively every year. In the year 2015-2016, the sales target is RMB 24 million and the target number of new retail stores is 6,000. In the year 2019-2020, the sales target is RMB 80 million and the target cumulative number of new retail stores is 15,000.
The Group's income from China market from 2012 to 2014 increased by about 28.8% year-on-year on average. The income from China market in 2013-2014 amounted to HK$21.1 million, accounting for approximately 8.3% of the Group's total income. The Group believes that the New Distributor with a strong sales network will enable Hin Sang to further enlarge its market share in Mainland China.
Ms. Kwan Lai Man, Managing Director and Executive Director of Hin Sang, said, "Given greater awareness of the Mainland consumers on health and the safety of food, higher average disposable income and gradual implementation of the two-child policy, we expect that the health care product market will have enormous room for development in the next few years. As the sales network becomes extended and optimised, we are confident about the mid-to-long term development prospects of the Group."
Contact:
Strategic Financial Relations Limited
Vicky Lee Telephone: +852 2864 4834 Email: vicky.lee@sprg.com.hk
Jovanni Cai Telephone: +852 2114 4937 Email: jovanni.cai@sprg.com.hk
Phoebe Li Telephone: +852 2864 4862 Email: phoebe.li@sprg.com.hk
Topic: Press release summary
Source: Hin Sang Group (Internation) Holding Co. Ltd
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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