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Good Life is going to be huge. Way to much upside here.
Letter from CEO Jia Dongmei to ShareholdersDear Sir or Madam,
Glad to notice you that Good Life and Esprit officially signed restructuring and listing agreement on Nov.28, 2007. We are now preparing necessary document to relevant authorities. The reverse merger is expected to complete before Jan 1, 2008. At that time, Good Life will obtain a new stock code and CUSIP code and list in US.
It is no doubt that the news is so encouraging! Our experience and team left good impression to Mr. Garr Winters, CEO of Esprit, and his team. Both of us are full of confidence that we can make more opportunities in China and develop our business.
Since its establishment in 1998, Good Life has developed with surprising speed. On the Christmas Day in 1998, the first store of Good Day named Unity in Cangzhou opened. It had area of 70 square meters, and accommodated 3300 varieties. With the high praise of customs, its sale achieved 15,000 RMB on the same day, creating the highest gross margin and average benefit of single shop of Hebei industry, which indicated the lucky start of Good Life.
Good Life developed rapidly in these 9 years. Its sale and stores increased with the speed of 95% every year: from 1 store to 1,600; from 5 shareholders to 100; annual sale increased from 30,000,000 RMB to 500,000,000; annual profit increased from 300,000 RMB to 17,000,000; from the first team of 5 people to the management team of 50…So far, we have experienced the joy of sharing success in the progress of growth, the tough revolution of business star up and innovation; the failure of the market management, the advancement of turning passive acceptance to active enterprising. Diligent management, continuous improvement and creation of experience and new mode form the brand culture and value of Good Life. We are so pleased that we made a young, professional and dedicated team with good ability of learning and creating.
During these 9 years, our team led our staff, owners of franchise stores, cooperative suppliers making lots of contributions and achievements in the progress of serving customers, attending social commonweal activities, upgrading the business management and developing franchised stores. We have won highly praise of customers, suppliers, and stores owners. With the support of the government, society and banks, we have established good reputation, obtaining extensive support and praise from public and medias.
We have won a lot of awards from government during the past 9 years:
Member of China Chain & Franchise Association, Enterprise of Franchise Registration
Member unit of Hebei Chain & Franchise Association
First franchise commercial enterprise passed the certification of ISO9000 Quality System
China Famous Commercial Enterprise
China Famous Commercial Service Enterprise
Credit level AA enterprise of Industrial and Commercial Bank of China (ICBC)
Excellent experimental enterprise of “Market Project of Thousands of Villages and Townships” of Ministry of Commerce of PRC
One of the industry leaders of Hebei circulation sector
Demonstration unit of Hebei enterprise informationalization application
The Consumer Creditable Unit of Hebei Province
Demonstration enterprise of Hebei E-Business
Hebei Famous Commercial Enterprise
Most Competitive Enterprise on the Market of Hebei Province
Hebei Famous Commercial Service Enterprise
From 2005 to 2007, Good Life launched the plan of retail franchise stores through E-net in Chinese country, which won encouragement of project of country informationalization, innovation fund, and stores exploitation of Market Project of Thousands of Villages and Townships from China government.
Due to the attention and exploitation it made to country market, Good Life achieved great successful these years. The company makes use of its own brand, marketing mode and management skill to extend chain sites from city to country, forming the development pattern of integration of urban and rural, and the interaction between urban and rural, exploring a path to develop rural market with the feature of Good Life.
According to the developing requirement of market and enterprise, making use of eternal site of supermarket in rural areas, brand influence of multi-year management of chain supermarket, credit advantage, and powerful logistics delivery system, Good Life established rural E-business integrated service platform in 2006 which combined “chain supermarket real net” and “E-business fictitious net”. Since it is the first platform of China rural E-business, the governments pay more attention to it. Therefore, Good Life won many awards as China Famous Commercial Enterprise, Demonstration unit of Hebei enterprise informationalization application, Demonstration enterprise of Hebei E-Business, and Most Competitive Enterprise on the Market of Hebei Province, etc.
Influence of Good Life in rural areas: Good Life is the first retail enterprise that entered in China rural market. Since 1998, it has 9 years’ experience in country and villages in the field of retailing. Good Life has profound understanding of rural market and consumption habit of peasants, and established stable foundation in rural market.
Every franchise store joined Good Life can upgrade its business management, especially in rural area: first, “Good Life” peasant shop makes good demonstration there, and many grocery shops run by couples want to join “Good Life”; second, franchise stores win excellent profit that the average sale is 1,200 RMB per day, and the profit reaches 1,000-3,000 monthly. The sale of all franchise stores joined Good Life increases by more than 50%. For example, one store in Liminju Village of Hejian is a private store before joining, with the daily sale is only hundreds RMB; after joining Good Life, the average sale achieves 3,000 RMB per day. Third, normal peasant shop of “Good Life” has a great variety of goods. It is welcomed by peasants because of the proper price, good reputation and service. Peasants say that “Good Life” bring them good life.
Management mode of Good Life brings profit increase: The management mode of profit of Good Life is consisted by three main businesses: logistics service, business management, and E-business operation service.
Logistics: At present, Good Life has three logistics and distribution centers, with the total area of the centers is 90,000 square meters, 20 trucks, average varieties sending out reach 7,000 per day, separately take charge of the goods supply for stores in Beijing, Shijiazhuang, and Cangzhou. The logistics center adopts commission distribution service, that is, supplier commission logistics center to store goods and distribute goods to stores, and terminal store makes order from the net, pays for goods directly to account of supplier. After supplier’s confirmation, the distribution center will send goods to terminal store. Peasants’ shops distribute goods once every 2 days, and stores in village and town distribute goods once per day. Service fee the company charges for suppliers is 3-5% of distribution expense per year. Compared with original logistics mode, the company reduces more than 3% distribution cost for suppliers. Moreover, through the logistics center of Good Life, suppliers can obtain stable sale market and income, which is also the reason why the logistics service win praise of suppliers. Recently Good Life intends to construct more complete logistics system. Regarding Beijing, Tianjin, and Hebei as the center area, the logistics center may achieve 19 in three years, and extend to the whole country. They will use more advanced system of automatic selection and distribution to improve supply efficiency further.
Business management: With the advantage of store network entering and serving rural area, Good Life directly develops the purchase and sale of agricultural products and sideline products, and provides agricultural production property, fertilizer and other projects. This direct service reduces the supply chain and brings obvious profit. With in the vast market, Good Life vigorously develops business as brand making, exploration and business management, in order to bring alternant and different service to all member stores and peasants members, as diverse native product, special product, diverse goods, proper price for supply, all kinds of products. The service can not only win satisfaction and loyalty of customers, but also strengthen franchise stores’ ability of acquiring profit and competition, bringing more benefit to Good Life in the same time.
E-business operation service: E-business B2B trade platform of Good Life can support stable and high efficiency information system of E-business management and service for real store net, logistics and suppliers; provide excellent service for suppliers, franchise stores, and logistics members, and meanwhile win profit.
Expensive rural market:
China has 950,000,000 rural populations that take 75% of the total population of the country, which provides good opportunity for the construction of supermarket chain. However, the truth that people living dispersedly in most areas influences the collection of business net and the exploration of supermarket chain. In a way, rural market, especially market which regards villages as supply target, is not developed. The particularity of rural population makes the “whole-big, part-small” feature in rural market. The bigger the income and purchase ability of customers are, the higher the turn over of supermarkets. Due to this rule, there are two aspects reflected on the peasants’ income: On one hand, peasants’ income continuously increases every year. The average net income increases from 500 RMB in 1985 to 3,587 RMB in 2006. On the other hand, the increase range of peasants’ income is low. From 1997 to 2003, the extent of average net income keeps below 5%, and the real extent reached 6.2% in 2005, and 7.4% in 2006. Compared with the real extent 9.6% in 2005 and 10.4% in 2006 of urban residents, the income extent of peasants is smaller.
In 2005, the Ministry of Commerce of PRC launched Supermarket Chain Construction Project of Thousands of Villages and Townships, intending to establish 250,000 standard commodity supermarkets in 70% towns and 25% natural villages of the whole country within 3 years. The old market will be changed into the new strategic area for franchise through the powerful support of government. Good Life will also keep developing in such a market.
Looking forward to the future:We plan to open 20,000 stores in Beijing, Tianjin and Hebei area with in 3-5 years, realize 30,000,000,000 RMB deal of commodity, agricultural production and property supply online per year, invest to establish 19 new logistics distribution centers, and finish daily business 100,000,000 RMB of E-business B2B with the market covering Beijing, Tianjin, Hebei, and Shandong. On the basis of such big business service operation network, we will realize our three main businesses step by step, establish system that combines real net and fictitious net of “Good Life franchise stores” + “Good Life E-business platform + new logistics distribution”, and collects services of E-business, franchise management and logistics distribution to rural area, and gradually extend to other service fields as science and technology information, finance, credit of small sum, insurance agricultural futures and so on.
The successful merger with Esprit establishes a fast financing channel for the management and development of the company and the development of rural logistics trade. Good Life is the representative of China northern rural area. Therefore, that you choose to invest in Good Life means you invest in China rural market. We believe that the special mode of E-business Good Life selects to serves rural market has vast developing space. In next 5 years, Good Life will still establish and strengthen the retail marketing and logistics system that face rural area. Regarding suppliers and retailers of rapid consumable as service targets, integrated service system of combination of B2B E-business trade platform, logistics, and retail terminals as operation mode, Good Life will provide more products and excellent service for customers in urban and rural areas, and create the biggest integrated service system that is consisted by retail net chain based on E-business B2B and logistics. The cooperation between Good Life and Esprit is a good start. Esprit can bring new management concept, business mode, advanced managing skill and international experience to Good Life on the management and service to rural area, accelerating the development of the company.
In the end, I want to express my gratitude to all shareholders for your trust ad support. Our target is continuously developing our business and searching for new opportunities to create new value for shareholders. We believe the future of Good Life will be much better.
Jia Dongmei CEO
December 18, 2007
Good post livingstyle. I agree.
Happy New Year everyone!
Basically Brian, all anyone can do is speculate at this point. I am going to further refrain from doing so and wait for the official PR.
Good Luck
Yes, it looks like the company has gone in a different direction than originally planned. I believe that we will be better benefited by this change in plans.
Also we don't yet know exactly what will happen with Check 21 or iexpay. They may very well still be in play.
What I said was "Sometimes unexpected things come up". I thought that Garr made that pretty clear in his last PR.
This is true, but he said that they have had other "interest" since the Good Life merger exposure and he wants time to evaluate those. Maybe something better than the pinksheet checkmark company? That would effect the timeline of the Good Life deal.
"insider email" not sure what you are talking about but I was under the impression that everyone was waiting for a PR not an email
I think he was hoping to start the New Year off right. However, it sounds like a few unexpected things came up. I personally don't have a problem waiting a few more days for good news!
Isn't this a global economy? I am pretty sure that the entire globe doesn't speak English. He is really scraping the bottom of the barrel with that one.
I don't believe that should be a factor in any way, shape or form and really neither do you. Just grasping at straws.
So you are basing someone’s ability to efficiently run a company based on the language they speak?
no one who owns that many shares would actually go out of there way to sabatoge the company they own. Not hard to figure out is it.
I don't see any broken promises. Mergers should be finished, we will get the PR soon.
You keep bringing up the "supposed" email. I would like for you to please post proof of that. Nowhere has a R/S even been hinted at.
Living off the shareholders all year? Wasn't garr paid in stock and $1.00? Not really living high on the hog is he.
We are getting in on the ground floor of another company. Good Life.
I am not sure I understand your post. Can you please re-iterate so that we can logically answer you?
It would be if there were other deals or offers that have unexpectedly come up
No company can possibily plan for every single contingency. Sometimes the unexpected happens.
Your welcome.
I think Garr mentioned in the last PR that the holidays AND the fact that they are looking at other deals that have come up since signing the merger with Good Life might have put the PR back a few days. We will have to see. Quite honestly, I don't care if it takes another week if it further adds to the value of the mergers. Either way, I don't think we have much longer to wait.
The finalization of these deals will be announced soon and I am very excited to be on the ground floor. After that, it will be far too late to try and hold this stock back. Longs: Our day is coming! Keep the faith!
Good luck to all.
Brian, didn't you just post this:
Posted by: brian
In reply to: CaptainD2u who wrote msg# 85399 Date:12/29/2007 10:40:27 PM
Post #of 85684
if they have another offer on the table, i would like them to take longer than a day or two to look at it.. please dont rush on us shareholder's behalf.
For everyone.
Looks like the deals are finalized. Should be getting a PR soon. Things are finally coming together.
There is a big difference between asking questions, constructive speculation,” weighing of pros and cons" and doing nothing but devoting every post to negativity. A lot of the people on this board don't ask constructive questions. The ulterior motive of the questions (and outright statements) is to raise doubt, mistrust, and ensure that any new investors have grave qualms about investing in this company.
I remember a time when you felt the same way.
EFGO will either make us money or not. I personally feel that it will. However, this is a gamble that we all took when we invested.
yep, I think so too. I also think that .002 will only be the beginning for this stock.
I agree, there is nothing but upside here.
wow, nothing like being extremely obvious about the manipulation. NP, EFGO is going to put out news soon that will turn the tables, IMO.
No one could have anticipated the Good Life and Canden deal. I would not be surprised to see that Garr has even more up his sleeve that will increase the value of the pps.
Good post mhallb. I also think that there is more in store for EFGO than we know. Garr has had a plan all along and I think we will all reap the benefits from it before long.
Yep, patience is a virture. I have been here for almost a year and I have no intention of going anywhere now that we are so close to having this pay off for us!
I agree, 2008 is going to be an awesome year for EFGO/Good Life/Canden AND us the shareholders!
All the Facts on EFGO, Canden and Good Life
IMO the Canden deal is a big as the Good Life deal.
Canden CEO
"We are currently a self-sustaining company, and debt free. We see ourselves off to a solid start in Fiscal 2008, under the EFGO banner with our current guaranteed revenue coming in much higher than anticipated.
We anticipate a solid but stable growth that will end the fiscal year revenue of approximately $900,000.00 with a potential growth beyond $5 million in revenue for the fiscal year 2009, maintaining net profits in the range of approximately 27 to 28%.
To date, two contracts are signed with distributors in Canada and USA.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=25385954
Canden Growth in the area of 30 – 50% per year and
Steen Elgaard’s Summary and BIO
Steen Elgaard’s Summary
Sales & Marketing for 15 years with demonstrated and proven exceptional results.
Worked in 15 cultures mostly in Europe and North America and in different business sectors such as Sports equipment, lumber, software, proffessional business administration, food and beverage solutions etc. Steen Elgaard’s Specialties:Our industry advantage is displayed via advanced technology and development and providing products that are superior to the competition.
Steen ElgaardPartner: HoResCon North America Inc
http://investorshub.advfn.com/boards/read_msg.asp?message_id=25375311
15 10 2007 China Has Over 100 Billionaires!
Where is Good Life located, in China
http://investorshub.advfn.com/boards/read_msg.asp?message_id=25384095
RETAIL STORES Seven Eleven here we come!
From corporate stores to franchise model http://www.goodlifechina.com/eglchina.php#retailstores
YouTube Chinese news coverage of the reverse merger of Esprit Financial Group and Haorizi/Good Life (China)
Be patient, we will get it. I am sure that they spent Christmas with their families yesterday like everyone else, instead of putting a PR together for this morning.
Merry Christmas everyone!
Maybe getting a PR on Wednesday with the rest of the week for trading was better than a PR on Friday?
I believe too garde!
Thanks ebiz. Happy holidays.