China Nepstar
Encyclopedia
China Nepstar the trading name of China Nepstar Chain Drugstore Ltd. , is China
's largest retail
drugstore
chain
on the number of directly operated stores.
As of March 31, 2009, the Company had 2,336 stores across 63 cities, one headquarter distribution center
and 12 regional distribution centers in China.
It uses directly operated stores, centralized procurement
and a network of regional distribution
centers to provide customers with pharmacy
services and a wide variety of other merchandise, including over-the-counter ("OTC") drugs
, nutritional supplements, herbal products, personal care products, family care products, and convenience products including consumables and seasonal and promotional items. China Nepstar's strategy of competitive pricing, customer loyalty programs (7 million members as of April 2008) and private label offerings has enabled it to capitalize on the robust demographic and economic growth
trends in China to achieve a leading brand and market position.
The Company also offers products under its own brand names (private label products). It offers 1,356 private label products.
The company pioneered the concept of chain retailing in pharmacies in China.
s. The Company accepts prescription
s only from licensed health care
providers and does not prescribe medications or otherwise practice medicine. Its in-store pharmacist
s verify the validity, accuracy and completeness of all prescription drug orders. The Company asks all prescription drug customers to provide it with information regarding drug allergies
, existing medical conditions and existing medications. Its in-store pharmacists also perform a drug utilization review, in which they cross-check every prescription against the customer's submitted information for drug, disease and allergy interactions. Sales of prescription drugs accounted for 23.4% of its revenue during the year ended December 31, 2007.
products, such as skin care, hair care
and beauty products, family care products, such as portable medical device
s for family use, birth control
and early pregnancy test
products and convenience products, including soft drinks, packaged snacks, and other consumable, cleaning agents, stationeries. Its other products also include seasonal and promotional items. Sales of other products accounted for 20.1% of China Nepstar's revenue in 2007.
These cities include Shenzhen
(from 202 stores as of December 31, 2006 to 311 stores as of December 31, 2007), Dalian
(from 127 stores to 174 stores), Guangzhou
(from 123 stores to 161 stores), Hangzhou
(from 102 stores to 144 stores), Ningbo
(from 73 stores to 96 stores), Dongguan
(from 75 stores to 94 stores), Suzhou
(from 54 stores to 70 stores), Tianjin
(from 23 stores to 66 stores), and Shanghai
(from 46 stores to 60 stores).
China Nepstar Chain Drugstore Limited (NPD.NYSE) plans to open 1,050 new chain stores in 2008 and expects to have more than 3000 outlets with about eight million of registered customers by then, said Qian Jiannong, CEO of China Nepstar Chain Drugstore.
As the largest trans-regional chain drugstore in China, China Nepstar Chain Drugstore opened 210 new stores within the fourth quarter and its total chain store number is likely to top 2,000 by the end of this year, said Qian at the celebration meeting for its listing at New York Stock Exchange.
China Nepstar Chain Drugstore Limited has said it has no plans to get listed on China's A-share market. As the capital raised from its IPO on New York Stock Exchange
(November 9, 2007) is sufficient to finance current expansion activities, there's no additional placement plan for the near future.
These agreements were signed at an event to celebrate the initial public offering of the company on the New York Stock Exchange attended by representatives from more than 300 manufacturers and wholesalers on December 14, 2007.
The cooperation agreements were entered into with each of Tianjin Smith Kline & French Laboratories Ltd., Bayer Healthcare Company Ltd., Eli Lilly and Company, Boehringer Ingelheim Shanghai Pharmaceuticals Co. Ltd., Wyeth Pharmaceutical Company Ltd., Hunan Taier Pharmaceutical Company Limited, Taiji Group, Shandong DONG-E E-JIAO Co. Ltd., and Kunming Dihon Medical Co., Ltd., as well as seven other suppliers of pharmaceutical and healthcare products. In addition to procuring merchandise from these suppliers, the Company will also partner with these suppliers to promote health education among Chinese consumers.
In addition, a number of prominent Chinese and multinational pharmaceutical companies, including Shandong DONG-E E-JIAO Co. Ltd., have agreed to establish exclusive manufacturing lines to manufacture certain products based on Nepstar’s specifications and packaging requirements and to sell these products solely through Nepstar’s network of drugstores.
In March 2008, Nepstar entered into a license agreement with SAP AG, a global leading Enterprise Resource Program ("ERP") provider, to purchase the full SAP ERP system. Concurrently, China Nepstar has retained Abeam Co., a system integrator with SAP implementation experience, to implement its ERP system. The SAP ERP system will integrate the Company's company-wide accounting and operating systems. The integration is expected to lower operating costs, improve inventory management and enhance data analysis capability. Particularly, it is expected to benefit store level data analysis to facilitate product procurement and sales promotion planning. China Nepstar selected SAP ERP system following a rigorous review of competing software in light of the Company's business needs and growth outlook. SAP ERP system has already been installed by many established international and Chinese retailers such as Walmart, MatsuMoto Kiyoshi, and China Suning Corporation. The Company plans to install the SAP ERP system in phases commencing in the fourth quarter of 2008. The installation is expected to be completed in 2009.
. Mr. Qian received a bachelor's degree in economics from Shandong University in 1983, a master's degree in economics from University of Essen in Germany in 1992, and studied in the doctoral program in economics in University of Duisburg-Essen
from 1992 to 1994.
China Drugstore magazine has more than 100,000 industry subscribers and has ranked China's drugstore chains for the past eight years. In bestowing the Best Drugstore Chain title upon China Nepstar, the magazine cited the Company's success in achieving rapid store network expansion and profit increases at the same time.
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
's largest retail
Retail
Retail consists of the sale of physical goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be...
drugstore
Pharmacy
Pharmacy is the health profession that links the health sciences with the chemical sciences and it is charged with ensuring the safe and effective use of pharmaceutical drugs...
chain
Chain store
Chain stores are retail outlets that share a brand and central management, and usually have standardized business methods and practices. These characteristics also apply to chain restaurants and some service-oriented chain businesses. In retail, dining and many service categories, chain businesses...
on the number of directly operated stores.
As of March 31, 2009, the Company had 2,336 stores across 63 cities, one headquarter distribution center
Distribution center
A distribution center for a set of products is a warehouse or other specialized building, often with refrigeration or air conditioning, which is stocked with products to be redistributed to retailers, to wholesalers, or directly to consumers. A distribution center is a principal part, the order...
and 12 regional distribution centers in China.
It uses directly operated stores, centralized procurement
Procurement
Procurement is the acquisition of goods or services. It is favourable that the goods/services are appropriate and that they are procured at the best possible cost to meet the needs of the purchaser in terms of quality and quantity, time, and location...
and a network of regional distribution
Distribution (business)
Product distribution is one of the four elements of the marketing mix. An organization or set of organizations involved in the process of making a product or service available for use or consumption by a consumer or business user.The other three parts of the marketing mix are product, pricing,...
centers to provide customers with pharmacy
Pharmacy
Pharmacy is the health profession that links the health sciences with the chemical sciences and it is charged with ensuring the safe and effective use of pharmaceutical drugs...
services and a wide variety of other merchandise, including over-the-counter ("OTC") drugs
Over-the-counter drug
Over-the-counter drugs are medicines that may be sold directly to a consumer without a prescription from a healthcare professional, as compared to prescription drugs, which may be sold only to consumers possessing a valid prescription...
, nutritional supplements, herbal products, personal care products, family care products, and convenience products including consumables and seasonal and promotional items. China Nepstar's strategy of competitive pricing, customer loyalty programs (7 million members as of April 2008) and private label offerings has enabled it to capitalize on the robust demographic and economic growth
Economic growth
In economics, economic growth is defined as the increasing capacity of the economy to satisfy the wants of goods and services of the members of society. Economic growth is enabled by increases in productivity, which lowers the inputs for a given amount of output. Lowered costs increase demand...
trends in China to achieve a leading brand and market position.
The Company also offers products under its own brand names (private label products). It offers 1,356 private label products.
The company pioneered the concept of chain retailing in pharmacies in China.
History
- June 1995: Shenzhen Nepstar Medical Co. Ltd. was established
- January 1996: Joined the National Association of Chain Drug Stores (NACDS) as its first Chinese member
- June 1996: Opened the first Nepstar drugstore - ShenzhenShenzhenShenzhen is a major city in the south of Southern China's Guangdong Province, situated immediately north of Hong Kong. The area became China's first—and one of the most successful—Special Economic Zones...
Guiyuan Store - December 1998: Started operations in KunmingKunming' is the capital and largest city of Yunnan Province in Southwest China. It was known as Yunnan-Fou until the 1920s. A prefecture-level city, it is the political, economic, communications and cultural centre of Yunnan, and is the seat of the provincial government...
, the first outside of GuangdongGuangdongGuangdong is a province on the South China Sea coast of the People's Republic of China. The province was previously often written with the alternative English name Kwangtung Province...
Province - March 2002: Named one of the 'Top 100 Chinese Chain Enterprises' for the first time by the China Chain Store & Franchise Association
- June 2002: Signed Master Franchise Contract with The Medicine Shoppe International to introduce the first international pharmaceutical retailing brand into mainland China
- November 2003: Partnered with Beijing Tong Ren Tang (Group) Co. Ltd., established Beijing Tong Ren Tang Commercial Investment and Development Co. Ltd.
- September 2004: Signed direct investment agreement with Goldman SachsGoldman SachsThe Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
- September 2007: Number of outlets exceeded 1,700
- November 2007: Listed on the New York Stock ExchangeNew York Stock ExchangeThe New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
- January 2008: Terminated voting rights agreement for Yunnan JianZhiJia Chain Drugstore Co. Ltd. (JZJ)
Products
China Nepstar's typical store carries approximately 1,800 to 2,350 different products. It offers a range of complementary products in each therapeutic category so that customers have more choices to suit their needs. In addition, its staff recommends a combination of products to enhance the treatment. For products with the same therapeutic purpose, the Company offers choices in each of the high, medium and low price ranges to suit the needs of customers with different spending power. In each therapeutic category, it also offers high margin private label products.Prescription Drugs
China Nepstar offers approximately 1,199 prescription drugPrescription drug
A prescription medication is a licensed medicine that is regulated by legislation to require a medical prescription before it can be obtained. The term is used to distinguish it from over-the-counter drugs which can be obtained without a prescription...
s. The Company accepts prescription
Medical prescription
A prescription is a health-care program implemented by a physician or other medical practitioner in the form of instructions that govern the plan of care for an individual patient. Prescriptions may include orders to be performed by a patient, caretaker, nurse, pharmacist or other therapist....
s only from licensed health care
Health care
Health care is the diagnosis, treatment, and prevention of disease, illness, injury, and other physical and mental impairments in humans. Health care is delivered by practitioners in medicine, chiropractic, dentistry, nursing, pharmacy, allied health, and other care providers...
providers and does not prescribe medications or otherwise practice medicine. Its in-store pharmacist
Pharmacist
Pharmacists are allied health professionals who practice in pharmacy, the field of health sciences focusing on safe and effective medication use...
s verify the validity, accuracy and completeness of all prescription drug orders. The Company asks all prescription drug customers to provide it with information regarding drug allergies
Drug allergy
A drug allergy is an allergy to a drug, most commonly a medication. Medical attention should be sought immediately if an allergic reaction is suspected....
, existing medical conditions and existing medications. Its in-store pharmacists also perform a drug utilization review, in which they cross-check every prescription against the customer's submitted information for drug, disease and allergy interactions. Sales of prescription drugs accounted for 23.4% of its revenue during the year ended December 31, 2007.
Over-the-Counter
The Company offers approximately 1,182 OTC drugs, including western medicines and traditional Chinese medicines, for the treatment of common diseases. Sales of OTC drugs accounted for 35.6% its revenue in 2007.Nutritional Supplements and Herbal Products
China Nepstar offers approximately 636 nutritional supplements, including a variety of healthcare supplements, vitamin, mineral and dietary products. Sales of nutritional supplements accounted for 18.3% of its revenue in 2007. The Company offers various types of drinkable herbal remedies and packages of assorted herbs for making soup, which are used by consumers as health supplements. Sales of herbal products accounted for 2.6% of its revenue in 2007.Other Products
The Company's other products include personal carePersonal care
Personal care or toiletries is the industry which manufactures consumer products used for beautification and in personal hygiene.-Subsectors:Subsectors of personal care include cosmetics and feminine hygiene....
products, such as skin care, hair care
Hair care
Hair care is an overall term for parts of hygiene and cosmetology involving the hair on the human head. Hair care will differ according to one's hair type and according to various processes that can be applied to hair...
and beauty products, family care products, such as portable medical device
Medical device
A medical device is a product which is used for medical purposes in patients, in diagnosis, therapy or surgery . Whereas medicinal products achieve their principal action by pharmacological, metabolic or immunological means. Medical devices act by other means like physical, mechanical, thermal,...
s for family use, birth control
Birth control
Birth control is an umbrella term for several techniques and methods used to prevent fertilization or to interrupt pregnancy at various stages. Birth control techniques and methods include contraception , contragestion and abortion...
and early pregnancy test
Pregnancy test
A pregnancy test attempts to determine whether or not a woman is pregnant.These markers are found in urine and blood, and pregnancy tests require sampling one of these substances. The first of these markers to be discovered, human chorionic gonadotropin , was discovered in 1930 to be produced by...
products and convenience products, including soft drinks, packaged snacks, and other consumable, cleaning agents, stationeries. Its other products also include seasonal and promotional items. Sales of other products accounted for 20.1% of China Nepstar's revenue in 2007.
Private Label Products
China Nepstar's private label portfolio has 1,356 products marketed under 133 private labels, covering all categories of products offered by the Company except herbal products. In 2007, private label products accounted for approximately 18.7% of its revenue. Some of its private labels include Beautiful Life, which the Company introduced in November 2005, to market nutritional supplements related to beauty care; Qianlong, which was introduced in January 2006, to market a variety of OTC drugs, including gastrointestinal and dermatology products, and Wisconsin, which was introduced in November 2006, to market 20 different types of nutritional supplements manufactured in the United States.Stores
In 2007, China Nepstar substantially increased its market penetration in coastal cities with relatively high household disposable income, where it already had a presence.These cities include Shenzhen
Shenzhen
Shenzhen is a major city in the south of Southern China's Guangdong Province, situated immediately north of Hong Kong. The area became China's first—and one of the most successful—Special Economic Zones...
(from 202 stores as of December 31, 2006 to 311 stores as of December 31, 2007), Dalian
Dalian
Dalian is a major city and seaport in the south of Liaoning province, Northeast China. It faces Shandong to the south, the Yellow Sea to the east and the Bohai Sea to the west and south. Holding sub-provincial administrative status, Dalian is the southernmost city of Northeast China and China's...
(from 127 stores to 174 stores), Guangzhou
Guangzhou
Guangzhou , known historically as Canton or Kwangchow, is the capital and largest city of the Guangdong province in the People's Republic of China. Located in southern China on the Pearl River, about north-northwest of Hong Kong, Guangzhou is a key national transportation hub and trading port...
(from 123 stores to 161 stores), Hangzhou
Hangzhou
Hangzhou , formerly transliterated as Hangchow, is the capital and largest city of Zhejiang Province in Eastern China. Governed as a sub-provincial city, and as of 2010, its entire administrative division or prefecture had a registered population of 8.7 million people...
(from 102 stores to 144 stores), Ningbo
Ningbo
Ningbo is a seaport city of northeastern Zhejiang province, Eastern China. Holding sub-provincial administrative status, the municipality has a population of 7,605,700 inhabitants at the 2010 census whom 3,089,180 in the built up area made of 6 urban districts. It lies south of the Hangzhou Bay,...
(from 73 stores to 96 stores), Dongguan
Dongguan
Dongguan is a prefecture-level city in central Guangdong province, People's Republic of China.An important industrial city located in the Pearl River Delta, Dongguan borders the provincial capital of Guangzhou to the north, Huizhou to the northeast, Shenzhen to the south, and the Pearl River to...
(from 75 stores to 94 stores), Suzhou
Suzhou
Suzhou , previously transliterated as Su-chou, Suchow, and Soochow, is a major city located in the southeast of Jiangsu Province in Eastern China, located adjacent to Shanghai Municipality. The city is situated on the lower reaches of the Yangtze River and on the shores of Taihu Lake and is a part...
(from 54 stores to 70 stores), Tianjin
Tianjin
' is a metropolis in northern China and one of the five national central cities of the People's Republic of China. It is governed as a direct-controlled municipality, one of four such designations, and is, thus, under direct administration of the central government...
(from 23 stores to 66 stores), and Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
(from 46 stores to 60 stores).
China Nepstar Chain Drugstore Limited (NPD.NYSE) plans to open 1,050 new chain stores in 2008 and expects to have more than 3000 outlets with about eight million of registered customers by then, said Qian Jiannong, CEO of China Nepstar Chain Drugstore.
As the largest trans-regional chain drugstore in China, China Nepstar Chain Drugstore opened 210 new stores within the fourth quarter and its total chain store number is likely to top 2,000 by the end of this year, said Qian at the celebration meeting for its listing at New York Stock Exchange.
Listings
China Nepstar Chain Drugstore Ltd. went public on the NYSE on November 9, 2007, through an IPO of 23,718,750 American Depository Shares (including green shoe) offered at a price of US$16.20 per ADSChina Nepstar Chain Drugstore Limited has said it has no plans to get listed on China's A-share market. As the capital raised from its IPO on New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
(November 9, 2007) is sufficient to finance current expansion activities, there's no additional placement plan for the near future.
Agreements
China Nepstar Chain Drugstore has signed strategic cooperation agreements with 16 domestic and multinational suppliers of pharmaceutical and healthcare products for 2008.These agreements were signed at an event to celebrate the initial public offering of the company on the New York Stock Exchange attended by representatives from more than 300 manufacturers and wholesalers on December 14, 2007.
The cooperation agreements were entered into with each of Tianjin Smith Kline & French Laboratories Ltd., Bayer Healthcare Company Ltd., Eli Lilly and Company, Boehringer Ingelheim Shanghai Pharmaceuticals Co. Ltd., Wyeth Pharmaceutical Company Ltd., Hunan Taier Pharmaceutical Company Limited, Taiji Group, Shandong DONG-E E-JIAO Co. Ltd., and Kunming Dihon Medical Co., Ltd., as well as seven other suppliers of pharmaceutical and healthcare products. In addition to procuring merchandise from these suppliers, the Company will also partner with these suppliers to promote health education among Chinese consumers.
In addition, a number of prominent Chinese and multinational pharmaceutical companies, including Shandong DONG-E E-JIAO Co. Ltd., have agreed to establish exclusive manufacturing lines to manufacture certain products based on Nepstar’s specifications and packaging requirements and to sell these products solely through Nepstar’s network of drugstores.
In March 2008, Nepstar entered into a license agreement with SAP AG, a global leading Enterprise Resource Program ("ERP") provider, to purchase the full SAP ERP system. Concurrently, China Nepstar has retained Abeam Co., a system integrator with SAP implementation experience, to implement its ERP system. The SAP ERP system will integrate the Company's company-wide accounting and operating systems. The integration is expected to lower operating costs, improve inventory management and enhance data analysis capability. Particularly, it is expected to benefit store level data analysis to facilitate product procurement and sales promotion planning. China Nepstar selected SAP ERP system following a rigorous review of competing software in light of the Company's business needs and growth outlook. SAP ERP system has already been installed by many established international and Chinese retailers such as Walmart, MatsuMoto Kiyoshi, and China Suning Corporation. The Company plans to install the SAP ERP system in phases commencing in the fourth quarter of 2008. The installation is expected to be completed in 2009.
CEO
Jiannong Qian has served as a director and Chief executive officer of the Company since August 2006. He was the vice general manager of Wumart Stores, Inc. from 2005 to 2006. From 2003 to 2005, he was the vice president of OBI (China) Management System Co., Ltd., a subsidiary of OBI Heimwerkermaerkte AG, a German corporation. From 2002 to 2003, he was the assistant general manager of China Resources Vanguard Co., Ltd. From 1997 to 2001, he worked at Metro AG and his last position at Metro AG was the manager of food purchase department. From 1994 to 1997, he worked as a senior manager at Weixing Company Group. From 1990 to 1994, he was a member and the chairman of general council of the Chinese Economists' Association in Germany. From 1983 to 1987, he was a lecturer of Shanghai University of Finance and EconomicsShanghai University of Finance and Economics
Shanghai University of Finance and Economics , founded in 1917, is a national university located in Shanghai, People's Republic of China. According to China's University and College Admission System, SUFE's economics program was ranked sixth in 2010, giving it an A+ rating.-History:The university...
. Mr. Qian received a bachelor's degree in economics from Shandong University in 1983, a master's degree in economics from University of Essen in Germany in 1992, and studied in the doctoral program in economics in University of Duisburg-Essen
University of Duisburg-Essen
The University Duisburg-Essen is a public university in Duisburg and Essen, North Rhine-Westphalia, Germany and a member of the new founded University Alliance Metropolis Ruhr....
from 1992 to 1994.
Acquisitions
- 2008-2-28: Acquired NingboNingboNingbo is a seaport city of northeastern Zhejiang province, Eastern China. Holding sub-provincial administrative status, the municipality has a population of 7,605,700 inhabitants at the 2010 census whom 3,089,180 in the built up area made of 6 urban districts. It lies south of the Hangzhou Bay,...
New Century Medical Ltd.'s 68 drugstores for US$4.1 million. http://www.nepstar.cn/eng/news_1_1.asp?id=15 - 2008-3-6: Acquired DongguanDongguanDongguan is a prefecture-level city in central Guangdong province, People's Republic of China.An important industrial city located in the Pearl River Delta, Dongguan borders the provincial capital of Guangzhou to the north, Huizhou to the northeast, Shenzhen to the south, and the Pearl River to...
Hui Ren Tang Pharmaceutical Co. Ltd.'s 18 drugstores for US$0.3 million. - 2008-8-8: Acquired QingdaoQingdao' also known in the West by its postal map spelling Tsingtao, is a major city with a population of over 8.715 million in eastern Shandong province, Eastern China. Its built up area, made of 7 urban districts plus Jimo city, is home to about 4,346,000 inhabitants in 2010.It borders Yantai to the...
Kangjie Chain Drugstore Co. Ltd.'s 42 drugstores for US$2.5 million.
Corporate social responsibility
Nepstar drugstores are neighborhood drugstores, and supports a range of educational, charitable and leisure activities.- In 2003, it donated cash and medicine for the nationwide fight against SARS.
- In 2004, it partnered with the Chinese Olympic CommitteeChinese Olympic CommitteeChinese Olympic Committee represents the People's Republic of China in international affairs related to the Olympic Movement.-Timeline concerning Olympic recognition:...
Shenzhen News Center to organize a healthy dance competition in ShenzhenShenzhenShenzhen is a major city in the south of Southern China's Guangdong Province, situated immediately north of Hong Kong. The area became China's first—and one of the most successful—Special Economic Zones...
. Several hundred people participated in the two-month competition. - In 2006, it participated in a community event organized by the State Food and Drug Administration to deliver information on the safe use of drugs.
- In 2007, all Nepstar pharmacists from our 1,500 outlets pledged to recommend only quality-assuredQuality AssuranceQuality assurance, or QA for short, is the systematic monitoring and evaluation of the various aspects of a project, service or facility to maximize the probability that minimum standards of quality are being attained by the production process...
pharmaceuticals, and thousands of customers signed commitments to only buy medicine from certified drugstores to protect their families' safety.
Awards
- "Best Drugstore Chain of 2007 in China" by China Drugstore magazine http://www.ydzz.com/ http://www.ilib.cn/P-zgyd.html, a leading trade publication in the drugstore industry in China.
China Drugstore magazine has more than 100,000 industry subscribers and has ranked China's drugstore chains for the past eight years. In bestowing the Best Drugstore Chain title upon China Nepstar, the magazine cited the Company's success in achieving rapid store network expansion and profit increases at the same time.