Good Life China Corp (GLCC) Further Update on Beijing SJJJF Supermarket Chain Transaction
BEIJING, May 30 /PRNewswire-FirstCall/ -- PINKSHEETS GLCC: http://www.goodlifechina.com/
- Further to our news release of May 29 2008 GLCC is providing this further update of Haorizi Logistics GLCC's operating subsidiary, and Beijing SJJJF Supermarket Chain, (SJJ) joint operating agreement on logistics, and information services.
Haorizi Logistics Co., Ltd enjoys a professional third-party logistics distribution center of 16,000 square meters, it has about 10,000 production locations that could assume the distribution of more than 1.5 billion in one year. There are more than 200 suppliers to provide goods for more than 50 retail stores.
Good Life currently provides various goods to the convenience stores in the gas station belonging to Beijing marketing company Petro China. In 2008 Good life plans to begin providing logistics distribution service of over 700,000,000 commodity sales items to 500 suppliers throughout Beijing.
Through GLCC - Service platforms, the company provides information services of product exhibition and sale, promotion, including issue of new products, online enquiries, and reconciliation settlement, matches. The commodity supply, and procurement information of retail stores, helps stores to purchase online, order timely, forms large-scale effect of intensive procurement, lowers cost of procurement operations, in order to assist Beijing SJJJF to improve the competitiveness and business performance of operating locations.
Mr. Yang, a company spokesperson, said, "GLCC remains committed, and loyal to our shareholders and followers. We are eager to see true values returned to our stock price. Yesterday, our share price looked like it was headed in the right direction past 12 cents by noon and then returned back to 6.5 cents on close. Our IR advisors tell us that this is due to a "pull back" profit takings and other market forces. To us this is quite alien as our share structure is tight, we have completed 2 massive authorized share reductions and absolutely nothing in our business model has changed to warrant a pull back.
We close the week with an additional 4 new stores for Friday May 30th 2008. Two stores are located in Cangzhou, two are in Shijiazhuang. We have added two new suppliers with audited on line transaction of (Yen)1,140,400; with the sum of distribution of (Yen)798,300; income of membership (Yen)12,000; and income of distribution is (Yen)31,900. All sums are reported in Chinese Yuan and converted in USD on the company's financials and filings".
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
DATASOURCE: Good Life China