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China Nepstar Chain Drugstore Reports Fourth Quarter and Fiscal Year 2010 Financial Results
Date:3/16/2011

's ordinary shareholders was RMB17 million (US$3 million) for 2010 compared to RMB140 million for 2009. The Company reported RMB0.16 (US$0.02) basic earnings per ADS, and RMB0.16 (US$0.02) diluted earnings per ADS for 2010. This compares to RMB1.34 basic earnings per ADS, and RMB1.32 diluted earnings per ADS for 2009. In comparison with 2009, the lower net income of the Company was mainly due to lower operating income, lower interest income, and a higher effective tax rate in 2010.

On August 13, 2010, the Company announced a share repurchase program to purchase up to US$20 million of outstanding shares of the Company in the form of ADSs over 12 months. The repurchases shall be made on the open market at prevailing market prices or in block trades and subject to restrictions relating to volume, price and timing under the applicable laws, including Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended. By the end of the fourth quarter of 2010, approximately 1.9 million ADSs have been repurchased at an average price of US$2.8 per ADS.

On January 18, 2011, the Company 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 paid around February 28, 2011 to shareholders of record as of the close of business on January 31, 2011.

Business Outlook"We expect the whole pharmaceutical retailing sector to be subject to continuous macroeconomic and industry-related policy uncertainties in 2011," Mr. Jason Wu, CEO of Nepstar, commented.

"However, we are encouraged by the progress of our transition to a neighborhood one-stop shopping platform, which we believe will sharpen our competitive advantage in a rapidly changing operating environment. Our product and marketing innovations seem to be appealing to customers and driving higher spending per visit, as well as creating steady sales flow to offset the negative e
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SOURCE China Nepstar Chain Drugstore Ltd.
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