ZHEJIANG, China, April 18 /Xinhua-PRNewswire/ -- China 3C Group (OTC Bulletin Board: CHCG), a leading retailer and distributor of consumer and business products in China, announced that the Company has signed a retail agreement with Auchan Hypermarket (China Group) Co, Ltd. to open new retail counters within all twenty of Auchan’s branded China-based stores beginning April 28, 2008. The new counters will sell digital cameras and photography equipment. China 3C currently operates a retail counter in each of the twenty Auchan branded stores that sell MP3, MP4 products and other small digital products. This new agreement will expand China 3C’s total number of counters at each Auchan branded store from one to two.
Auchan China is the subsidiary of Group Auchan, an international retail group and multinational corporation headquartered in Croix, France. Auchan China has twenty branded stores in China with sixteen of their twenty branded stores based in Eastern China. Group Auchan is one of the world’s principal distribution groups with a presence in 12 countries and 175,000 employees. Auchan has branches in France, Italy, Spain, Portugal, Luxembourg, Poland, Hungary, Russia, Morocco and China. As of October 2005, Auchan had 356 hypermarkets, 646 supermarkets and 2027 small shops around the world, as well as 116 hypermarkets in France. Group Auchan was ranked No. 141 on Fortune Global 500 in 2007.
Mr. Yong Wu, Director of Sales at China 3C Group commented, “We are very happy to expand our cooperation with Auchan China. This agreement covers all twenty of Auchan’s branded stores in China, including new store openings, of which Auchan plans on opening two more stores by August. We are pleased to be expanding our portfolio of leading electronic consumer products and brands at this retailer and look forward to increased cooperation in the future.”
About China 3C
China 3C is a leading wholesale distributor and retailer operating over 900 retail outlets in Eastern China. The Company specializes in selling 3C products which include: cell phones and accessories, fax machines and printers, consumer electronics, computer and computer-related products and small home appliances. Among China 3C’s primary attributes is its efficient distribution network and rapid logistics system. For more information, visit http://www.china3cgroup.com .
Forward-looking Statements
Certain of the statements set forth in this press release constitute "Forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We have included and from time to time may make in our public filings, press releases or other public statements, certain forward-looking statements. In some cases these statements are identifiable through the use of words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "target," "can," "could," "may," "should," "will," "would" or words or expressions of similar meaning. You are cautioned not to place undue reliance on these forward- looking statements. In addition, our management may make forward-looking statements to analysts, investors, representatives of the media and others. These forward-looking statements are not historical facts and represent only our beliefs regarding future events, many of which, by their nature, are inherently uncertain and beyond our control. There can be no assurance that such forward-looking statements will prove to be accurate and China 3C Group undertakes no obligation to update any forward-looking statements or to announce revisions to any of the forward-looking statements.
