DGAP-News: Joyou AG opens offices and exhibition space in Beijing
(firmenpresse) - DGAP-News: Joyou AG / Key word(s): Miscellaneous
Joyou AG opens offices and exhibition space in Beijing
02.12.2010 / 09:07
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In line with the company's growth strategy, Joyou Group has opened a 1,200
sqm office in Beijing, commercial district. 50 people will be working in
the new office that comprises an exhibition space for Grohe and Joyou
faucets and sanitary ware products, with a approximately 600 sqm dedicated
to commercial concept showrooms.
Beijing in the centre for commercial property developers in Northern China:
A large cluster of property developers have their head offices here.
Accordingly, Joyou opens this office with the intention of fostering Joyou
and Grohe sales with the commercial property developers in the Northern
provinces and across China. This will assist expansion into this sector
that makes up a large portion of the overall market for faucets and other
sanitary ware in China.
The company further opened a 900 sqm office in Xiamen, Fujian Province,
where 70 people will be working. It will hold the international sales
department, and sales staff focusing on Grohe sales in Eastern China.
'In the first nine months 2010 Joyou opened 989 new points of sale in China
and expect to open more than 90 additional stores in the fourth quarter.
This is in line with objective stated at the IPO to open 1,000 new shops
this year. In addition to this, the new offices in Beijing and Xiamen
further strengthen our expansion infrastructure to handle the growth. We
see very good opportunities in the commercial project business with real
estate developers for the Joyou and Grohe products,' states Jianshe CAI,
CEO Joyou AG.
About Joyou
Joyou (ISIN DE000A0WMLD8, WKN A0WMLD, Ticker Symbol JY8) designs, produces
and sells faucets and other sanitary ware products in China under its brand
name 'Joyou' and is also engaged as a OEM/ODM-manufacturer for
international brands and trading companies in the United States and Europe
as well as other emerging markets. In 2009, Joyou was one of the leading
single-brand manufacturers of bathroom, kitchen and other faucets in China
in terms of revenues (according to BSRIA). Joyou has established an
extensive distribution network in China with 2,527 retail points of sales
as of 31 December 2009.
Joyou's operating facilities are based in Nan'an near Quanzhou in Fujian
Province in China. Joyou's five main product groups sold in its own brand
business are bathroom faucets, kitchen products, shower products as well as
other bathroom products and other faucets and sanitary hardware. In 2009,
Joyou realised group revenues of EUR 172.3 million, an operating profit
(EBIT) of EUR 39.0 million and a net profit of EUR 22.3 million employing
on average 2,529 persons.
For further information, please contact:
Kirchhoff Consult AG
Dr Kay Baden, tel.: +49 40 60 91 86 0, baden(at)kirchhoff.de
or visit the company website at: http://www.joyou.com
Disclaimer concerning prognoses
This communication contains forward-looking statements. Forward-looking
statements are statements that are not historical facts instead they
reflect Joyou's current views and expectations and the assumptions
underlying them about future events. Forward-looking statements are subject
to many risks and uncertainties. If any of such risks and uncertainties
materialize or if the assumptions underlying any of Joyou's forward-looking
statements are proving to be incorrect, Joyou's actual results may be
materially different from those expressed or implied by such
forward-looking statements. Joyou does not intend or assume any obligation
to update these forward-looking statements. Any forward-looking statement
speaks only as of the date on which it is made.
End of Corporate News
02.12.2010 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Joyou AG
Chilehaus A, Fischertwiete 2
20095 Hamburg
Deutschland
E-mail: ir(at)joyou.net
Internet: www.joyou.de
ISIN: DE000A0WMLD8
WKN: A0WMLD
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in München, Berlin, Düsseldorf, Stuttgart
End of News DGAP News-Service
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105261 02.12.2010
Datum: 02.12.2010 - 09:07 Uhr
Sprache: Deutsch
News-ID 32777
Anzahl Zeichen: 0
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Kategorie:
Business News
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