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China BCT Reports Strong Second Quarter 2010 Results
Date:8/16/2010

oss Guangxi with the opening of 12 new retail pharmacy stores -- Signed an exclusive three-year pharmaceutical distribution contract with Liujiang County Chinese Medicine Hospital, effective July 1, 2010 -- Strengthened corporate governance by appointing Mr. Man Wai Chiu, Mr. Eng Leong Lee and Mr. Simon Choi to its Board as independent directors -- Launched new corporate and investor relations website at http://www.china-bct.com

"We are very pleased to report strong second quarter financial performance. The expansion of our distribution network in Guangxi Province contributed favorably to our solid 42.8% year-over-year revenue growth this quarter," commented Mr. Hui Tian Tang, Chairman and Chief Executive Officer of China BCT Pharmacy Group, Inc. "Our exclusive three-year pharmaceutical distribution contract with Liujiang County Chinese Medicine Hospital dovetails well with our strategy of growing revenue while maintaining overall profitability levels. In the second half of 2010, as industry consolidation continues, we will pursue additional acquisition opportunities in China's fragmented retail pharmacy market. We have a focused growth strategy and we believe our strategic investments will generate substantial returns over time."

Second Quarter 2010 Results

For the second quarter ended June 30, 2010, revenue increased 42.8% to $47.5 million, as compared to $33.3 million in the same quarter of 2009. The increase in revenue was primarily driven by increased sales contributed from the Company's newly acquired retail pharmacy and stronger sales from pharmaceutical distribution segments.

In the second quarter of 2010, net sales from the Company's pharmaceutical distribution segment increased 37.4% year-over-year to $33.3 million, or 70.2% of total revenue. Higher pharmaceutical distribution sales during the quarter primarily reflects greater sales to hospitals, where a larger quantity and wider ra
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SOURCE China BCT Pharmacy Group, Inc.
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