Haorizi Good Life (symbol GLCC.PK)
(Symbol GLCC.PK)
(Frankfurt Ex. L9X)
Haorizi Good Life (symbol GLCC.PK) is a diversified international company active in North America and China. China based operations represent the lion's share of revenue and profit, centered around a large and rapidly growing chain of convenience stores serving rural markets.
Good Life is one of most successful and fastest growing chain of Convenience Stores in rural areas of Hebei Province, China.
The Company has enjoyed meteoric growth rates over the last 10 years, growing from a mere 8 stores in 1999 to almost 1,600 in 2007, becoming the largest chain store network of convenience stores serving more than 2.4 million people in the rural areas of China.
The Company expects to continue rapid expansion of its retail footprint through the next several years, and plans to begin launching stores in large urban areas beginning in 2008. Current plans call for the Company to expand to 2,200 franchised stores in 2008, and reach upwards of up to 15,000 locations by the end of 2010.
Net Profit is currently projected to exceed the fiscal plan of $2.29M million USD for the 2007 fiscal year by a significant margin, and increase to over $25 million USD by 2011.
Hebei Province, People's Republic of China
Population: 65 million
In 2007, the Company modified its business model to move away from company owned and operated retail outlets and converted all of its stores to a franchise model. With the economies of scale the Company is achieving as it continues to grow, it will focus on core areas of expertise including logistics and group buying of consumer and farm supplies and products.
Asian News Coverage of Good Life China
The Company has established 4 logistics/distribution centers that provide web-enabled support to handle order entry, shipping and billing functions of products to its franchisees. With its emphasis on serving rural areas, the Company's stores are well positioned to provide a comprehensive one-stop shop for a wide variety of goods and services to meet the needs of its farm-based customers.
The Company is in the process of diversifying its operations to include sub-prime financial services to its millions of customers. This diversification is planned to include crop insurance for local area farmers, as well as small loan lending services.
In addition, the Company also plans to expand areas of operation for its franchise stores to provide warehousing and distribution services for farm input products, as well as providing commodity sales of crops on behalf of local farmers.
Much like the original Hudson Bay Company at the turn of the last century, farmers will be able to borrow against farm inputs, purchase consumer goods and services for personal consumption, and rely on Good Lifestores to sell their crops after harvest. They will be tied to Good Life stores for a great portion of their purchases due to the multiple service relationships that will all be interconnected.
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