Business Intelligence on Retailing, Franchising, and Consumerism in China


Wang Keqiang Will Be General Manager Of Lianhua Southwest And South China

First Financial Daily has reported that Mao Jiankang, former general manager of Lianhua's south China area, will be transferred to Shanghai headquarters, and Wang Keqiang, current general manager of the southwest area, will become the general manager of the two areas.

In the mid-term report of Lianhua Supermarket, its main business, Century Mart, achieved a business volume of RMB4.861 billion in the first half of 2007, which increased 10.42% compared with the same period of 2006. However, it made a loss for the first time and the amount of deficits was as high as RMB51.581 million.

The report reveals that the reason for the deficit is because of the closure of its three marts in Guangzhou. From March 2007, Lianhua Supermarket successively closed its three marts in Guangzhou, which cost the company RMB70.9 million for the penalty of terminating contracts, canceling non-recoverable assets, and compensation for staff.

Century Mart has only four stores in the south China area, which are in Zhongting Street store, Fuzhou; Taojin and Jiuzhou stores, Guangzhou; and Sanhuan store, Huizhou. Although the closure of its three stores in Guangzhou has brought negative influence to Lianhua Supermarket, the increases of many retail indices of its south China stores are still among tops in the country.






Be the first to comment on "Wang Keqiang Will Be General Manager Of Lianhua Southwest And South China"

Leave a comment

Your email address will not be published.


*




  Other China News

ChinaTechNews.com:

AutoNavi, Delphi Reach Deal

Hisense's Net Profit Down 47.39% In First Three Quarters Of 2017

Airbnb China Head Resigns

DMG To Buy China Rights Of Forbes Brand


GreenChinaTech:

Chinese Electric Bus Manufacturer Lands USA Deal

American Electric Car Manufacturer To Build In China

U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center


ChinaSourcingNews.com:

JD To Build Global Logistics Headquarters In Xi'an

Wumart, AGS Sign Agreement For Seafood Direct Procurement

India Gains Second Factory From China's Xiaomi

85% of Indian Staff To Lose Jobs At China's LeEco