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China Nepstar Chain Drugstore Reports First Quarter 2011 Financial Results
Date:5/25/2011

to their improved profitability in the first quarter of 2011.

Net income in the first quarter of 2011 was RMB10.6 million (US$1.6 million), which represented RMB0.10 (US$0.02) basic and diluted earnings per American depositary share ("ADS"). This compares to net income of RMB2.6 million, which represented RMB0.02 basic and diluted earnings per ADS in the same period of 2010. The total number of outstanding ordinary shares of the Company as of March 31, 2011 was 207.8 million. The weighted average number of ordinary shares in the first quarter of 2011 was 207.8 million. Each ADS represents two ordinary shares of the Company.

As of March 31, 2011, Nepstar's total cash, cash equivalents and bank deposits were RMB983.7 million (US$150.2 million) and its shareholders' equity was RMB1,375.5 million (US$210.0 million).

In the first quarter of 2011, net cash flow from operations was RMB1.0 million (US$0.2 million).

On January 18, 2011, Nepstar announced a special cash dividend of US$0.30 per ADS, which represents a total value to shareholders of approximately US$31 million. The distribution of the special dividend was partly paid around February 28, 2011 to shareholders of record as of the close of business on January 31, 2011.

In April 2011, Nepstar's Board approved the transfer of 100% ownership of Shenzhen Nepstar Industrial Co., Ltd. ("Nepstar Industrial"), a subsidiary company, to Neptunus Group, a related party. Nepstar Industrial has a registered capital of RMB100 million and paid-in capital of RMB20 million as of March 31, 2011. The net asset of Nepstar Industrial as of March 31, 2011 was RMB20 million. Neptunus Group will pay Nepstar RMB20 million in cash, to acquire Nepstar Industrial. Nepstar has not conducted any operations under Nepstar Industrial since its establishment in 2009. The purpose of the transaction is to simplify corporate structure and the divestment is not expected to influence Nepstar's financial position o
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SOURCE China Nepstar Chain Drugstore Ltd.
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