Retailing, Franchising, and Consumerism Business Intelligence in China

Jingkelong: Net Profit Up 25.8% In 2008

Beijing-based retailer Jingkelong has published its annual report for 2008, which states that its total revenue increased by 18.7% year-on-year to CNY6.694 billion while its net profit increased by 25.8% year-on-year to CNY157 million.

According to the report, in 2008 Jingkelong opened 16 new directly-managed stores and 23 franchised convenience stores. Its retail network has been extended to all the 18 areas and counties of Beijing as well as to Hebei province, where the company has opened one hypermarket, three supermarkets, and a convenience store.

Jingkelong said the group plans to open more retail sites in Beijing while developing new wholesale and distribution networks in the second-tier cities in north China, east China, and the Bohai area.

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