Sun Art Retail Steps into E-Commerce
Sun Art Retail Group Ltd (HKG: 6808), which holds the largest share of China's hypermarket sector, founded Uitox E-Commerce (Shanghai) Ltd to attract online shoppers. The company has 100 million yuan ($16.3 million) in registered capital. China Merchants Securities said the company has yet to explore how to make use of its advantages in traditional retail networks for earnings from e-commerce given the fierce competition in e-commerce.
Cooler Weather Dents Tsingtao Brewery
Tsingtao Brewery Co (HKG: 0168, SHA: 600600), China's second largest brewer by capacity, will probably see its sales volume growth drop to 7% in Q2 2013 due to cooler weather in northern China and weak economic growth, HSBC says in its latest Consumer & Retail Beverages report. The 7% growth takes into account the contribution from the joint venture with Japan's Suntory. Taking Suntory out, Tsingtao Brewery's organic growth is projected to be just 4% in Q2 2013. The joint venture, established a year ago, produced 900,000 tons of beer in 2012. China's beer consumption growth slowed to 3% in April from 17% in Q1 2013.
Sa Sa Revenue and Profits Rise 20%
Sa Sa International Holdings Ltd (HKG: 0178), a Hong Kong-based cosmetic chain that also operates in mainland China, posted HK$7.67 billion ($998.1 million) in revenues and HK$826 million in net profits for the financial year through March 2013, both up 19.7% from a year earlier as tourists from the mainland spurred business. Earnings per share were rose 19% to HK$0.293. The number of its stores increased to 260 from 249 throughout the financial year.
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