Jun. 25, 2012 (China Knowledge) - Beijing
Tongrentang Group Co Ltd, a well-known traditional Chinese medicine enterprise and the parent company of Beijing
Tongrentang Co Ltd<600085
>, plans to open 100 stores in foreign countries by 2015 to promote its development in the West, the Middle East and the Japanese market, sources reported.
In early 1993, the traditional Chinese medicine enterprise opened a store in Hong Kong
, and becomes the company's first store outside the mainland. At present, Tongrentang had set up 66 retail stores in 16 countries.
Last year, Tongrentang Group realized RMB 16.3 billion in operation revenue and its net profit for 2011 increased by 26% YoY to RMB 1.32 billion.
Tongrentang also plans to enlarge its investment sector in overseas market, such as in medical service, health care, academic education and Chinese imperial cuisine, said Ding Yongling, vice general manager of Beijing
Tongrentang Group set up its production base in Beijing E-Town
, a triple-A rated industrial park
, with a total investment of RMB 600 million. Beijing E-Town
is focusing on the construction of its biomedicine industry cluster; and, currently, over 100 bioengineering and new medicine enterprises including Bayer, GE Healthcare and Daiichi Pharmaceutical had set up in the park. Its Bio-medical Industrial Park is designated by National Development and Reform Commission
as a state-level biopharmaceutical base and known as the Pharmaceutical Valley of Beijing