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China Nepstar Chain Drugstore Reports 92.1% Year-on-Year Increase in Operating Income for Third Quarter 2009
Date:12/1/2009

ged by rising consumer spending in the healthcare sector. The value of our combination of quality products, reliable service and maximum convenience is becoming more and more recognized by community residents."

Third Quarter Results

During the third quarter of 2009, the Company opened 47 new stores and closed 22 stores. As of September 30, 2009, Nepstar had a total of 2,337 stores in operation.

Revenue for the third quarter of 2009 was RMB556 million (US$81 million), compared to RMB613 million for the same period in 2008, and RMB515 million for same period in 2008 on a pro forma basis.

For the third quarter of 2009 revenue contribution from prescription drugs was 22.0%, from over-the-counter ("OTC") drugs was 36.7%, from nutritional

supplements was 21.6%, from traditional Chinese herbal products was 3.4% and from other products was 16.3%.

Same store sales (for the 1,589 stores opened before December 31, 2007) for the third quarter of 2009 increased by 3.8% from the same period in 2008. The increase was mainly due to streamlining of operations and further optimization of product mix and recovery of the overall Chinese economy.

Nepstar's portfolio of private label products included 1,499 products as of September 30, 2009. Sales of private label products represented approximately 30.1% of revenue and 44.4% of gross profit for the third quarter of 2009.

For the third quarter of 2009, gross profit was RMB276 million (US$40 million), compared to RMB298 million for the same period in 2008 and RMB267 million for the same period in 2008 on a pro forma basis. Gross margin for the third quarter of 2009 was 49.6% compared to 48.6% for the same period in 2008 and 51.8% for the same period in 2008 on a pro forma basis. The decrease in gross margin for the third quarter of 2009 compared with the same period in 2008 on a pro forma basis was mainly due to exp
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SOURCE China Nepstar Chain Drugstore Ltd.
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