GLCC is doing business in a country who's population is growing at an insane rate.
It has been said that China's population increases each year by 12-13 million people!
Some of the best plays are coming out of China these days.
GLCC is one of the most successful and fastest growing chain of Convenience Stores in rural areas of Hebei Province, China.
GLCC has enjoyed meteoric growth rates over the last 10 years, growing from a mere 8 stores in 1999 to almost 1,600 in 2007!
It is the largest chain store network of convenience stores serving more than 2.4 million people in the rural areas of China.
I'm not sure if people are aware at how lucrative the convenience store sector is.
Here in the U.S., the convenience store industry, with 140655 stores across the U.S., posted $495.3 billion in total sales for 2005!
GLCC has announced an endorsement agreement with Olympic beach volleyball bronze medalist and 2008 US Olympic hopeful Elaine 'EY' Youngs.
"I've had a number of great sponsors in my career but I'm particularly flattered to work with Haorizi and Good Life China. Like so many athletes, I've been dreaming of China for a long time so to be singled out and sponsored by a Chinese based company is an honor.
The work that they do, providing convenience stores to the rural areas of China, is something that people here and in many parts of the world where I typically compete might take for granted. But Good Life China is providing places where people can find the things they need everyday.
I'm looking forward to working with them and hope to make them proud of our performance in Beijing," said Youngs.
GLCC 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.
GLCC's current plans are to expand to 2,200 franchised stores in 2008, and reach upwards of up to 15,000 locations by the end of 2010.
China's population and busy economy is providing a great market for GLCC's other services.
GLCC's North American service is Cash Now 21.
"Check 21" (Check Clearing for the 21st Century Act) is a U.S. federal law that became effective on October 28, 2004. It is designed to enable banks to handle more checks electronically, which should make check processing faster and more efficient.
GLCC could see huge profits with this operation considering that the international check clearing market represents huge potential for growth.
For foreign markets such as Asia and South America that have significant funds flow back and forth from the U.S., this becomes an invaluable asset. GLCC is intent on being first to market with as non-financial institution to offer this service.
While Check 21 is being increasingly adopted in the United States, it is quite a new concept internationally. Checks drawn on a U.S. Account, for deposit in international markets often take 30-45 days to clear, and sometimes even longer.
Cash Now 21 reduces the clearance time to a mere 3 business days or less!
Initial rollout of services is slated for the Chinese markets.
GLCC has received an overwhelming response from preliminary discussions with Chinese banks for their service. Most Chinese banks handle significant numbers of U.S. denominated checks.
GOOD LIFE CHINA CORP -Good Life China Corp. 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. Company Highlights
Good Life China has enjoyed meteoric growth rates over the last 10 years,growing from a mere 8 stores in 1999 to almost 1,800 in 2007 becoming the largest chain store network of convenience stores. Current plans call for the Company to expand to 4,000 franchised stores in 2008, and reach upwards of up to 15,000 locations by the end of 2010.
The Company has enjoyed meteoric growth rates over the last 10 years, growing from a mere 8 stores in 1999 to almost 1,800 in 2007, becoming the largest chain store network of convenience stores serving more than 2.4 million people in the rural areas of China.
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.
Current Projects
Good Life China (GLCC) Completes Deal With ABC China Bank
Good Life China recently announced thecompletion of the strategic partnership with Hebei branch of Agricultural Bank of China (ABC). The two parties will cooperate in e-business vista balance, Payday Loan for members, self-support circulation loan, and issue ABC-Goodlife member card. Good Life China has been approached for similar type of relationships with other financial banking institutions in China, and is currently working with the agent for Industrial Commercial Bank of China for a similar type of an arrangement.
Good Life China (GLCC) Goes to the Beach with USA Olympian Elaine Youngs
Olympic beach volleyball bronze medalist and 2008 US Olympic hopeful Elaine 'EY' Youngs recently announced a new endorsement agreement with Good Life China Corporation. Youngs, a long time star of the professional beach volleyball circuit, is a 2004 Olympic bronze medalist who remains one of the top ranked players in the world. She and playing partner Nicole Branagh are considered serious medal contenders for the upcoming 2008 Olympic Games. "I'm particularly flattered to work with Haorizi and Good Life China," said Youngs.
Company Overview
Good Life China Corp. (OTC.PK: GLCC)
Chinese Operations
Good Life Group Limited was incorporated in 1998, by founder Ms. Dongmei JIA, in conjunction with Hebei Province Supply and Market Association and other private investors, with contributed capital over $8 million USD.
Established to develop convenience stores in rural areas within Hebei Province, the Company has been extremely successful. It has grown from a handful of stores to the largest chain of convenience stores with roughly 1,600 retail outlets serving more than 2.4 million people under the Haorizi retail banner in Hebei.
The current run rate of gross sales generated within by the chain is over 800 RMB, or $107 million USD.
The Company's five year plan is to reach gross sales 30 billion RMB, valued at just over $4 billion USD. This would see the chain grow to 20,000 retail locations, with roughly 20 logistics centers supporting these stores.
The Company has met with great success serving the rural areas of Hebei Province, (population of 66 million). It is well-positioned to expand services from a simple retail model to a multi-service franchise system that delivers financial services to meet the specific needs of local farmers. As it does so, it will begin expanding geographically into key neighboring markets and targeted urban centers:
Beijing (Second largest and capital city of PRC. Population 15 million)
Tianjin (Urban area is the third largest in China, after Shanghai and Beijing. Population: 10.4 million)
Shandong Province (Population: 92 million)
Henan Province (Population: 97 million)
Shanxi Province (Population: 32 million)
Jiangsu Province (Population: 70 million)
RETAIL STORES >From corporate stores to franchise model:
As the Company has continued to grow, it has developed expertise in logistics, and has refocused corporate efforts to concentrate on the efficiencies generated through advanced, web-enabled systems and on the supply side as well as the retail distribution processes.
In 2007, the Company moved forward from a corporate owned retail store strategy to a franchise system. All 1,600 stores have been converted to franchises, and are now operated by franchisees. Aggressive expansion of the retail footprint will be made on this basis.
The franchise approach works incredibly efficiently. The Company has developed advanced logistics and efficient stock inventory, sales reporting and back end corporate software solutions, adopting many best practices used by major retailers in the Western world.
The rate at which the Company can establish new retail locations is astonishing. Standard store sizes are 100 sq. meters per location. Retail outlets are based on a standardized format for the Haorizi convenience store banner. Store fixtures, computer systems, signage and stocking is achieved in a matter of days, rather than months.
The chain will open nearly 600 new stores this year, and plans call for an accelerated pace for the next five years that is staggering; reaching 2,200 locations by the end of 2008.
North American Operations
North American operations will operate on an autonomous basis going forward. Management anticipates significant growth in top-line revenue going in to 2008, as new operations such as Check 21 services and Forex Trading begin to ramp up marketing and sales.
The Company has established strong branding under the Cash Now banner, and has a large network of websites under this and other names generating traffic for it's web-enabled services.
In 2007, the Company began a diversification program to leverage its core competencies into new markets. Efforts have been focused on Internet delivered financial services to a consumer market. Key attributes for this diversification in business opportunities that have the following attributes:
Consumer facing
Financial Services related
Internet delivered
SMALL LOAN LENDING
The Company is a pioneer in the payday loan industry, and continues to develop the most comprehensive menu of services in the cash advance industry. Operations include licensing of a comprehensive suite of Internet-based payday loan and check cashing software and private label back end office systems for the sub prime market. The company's proven business model comprises operations in the U.S., Australian and Canadian markets.
Goodlife offers complete turnkey solutions for Internet delivered payday loans. The Company's products are licensed to third parties as standalone businesses. Revenue is derived from the initial purchase of the software, and monthly administrative fees, creating an ongoing revenue stream. These fees are not royalties, and allow licensees to pursue aggressive growth without being weighed down by service fees that eat into their margins.
PAYDAY EXPRESS The perfect solution for a home based Internet payday loan business without the expense of operating a retail storefront. PAYDAY EXPRESS offers powerful and robust functionality and features, such as reporting, exporting data, Trust Vault integration, electronic funds transfer (EFT) capabilities and a Credit Bureau interface feature.
CHECK EXPRESS This product builds on the feature set of the Payday Express, but also includes the full functionality of Cash Now's booking engine, which provides the Company's proprietary credit evaluation software and services. It is designed to service payday loans as well as offering check cashing services.
THE TRUST VAULT Goodlife's proprietary Trust Vault provides a secure online environment in which sensitive financial information and transaction data can be held in a secure manner. Loan processing and consumer information is provided and transacted within this secure vault. It is designed to be very consumer friendly and extremely simple to use.
"Check 21" (Check Clearing for the 21st Century Act) is a U.S. federal law that became effective on October 28, 2004. It is designed to enable banks to handle more checks electronically, which should make check processing faster and more efficient. Under Check 21, banks can capture a picture of the front and back of the check along with the associated payment information and transmit this information electronically .
The international check clearing market represents huge potential for growth. While Check 21 is being increasingly adopted in the United States, it is quite a new concept internationally. Checks drawn on a U.S. Account, for deposit in international markets often take 30-45 days to clear, and sometimes even longer. Cash Now 21 reduces the clearance time to a mere 3 business days or less.
For foreign markets such as Asia and South America that have significant funds flow back and forth from the U.S., this becomes an invaluable asset. We are intent on being first to market with as non-financial institution to offer this service.
Initial rollout of services is slated for the Chinese markets. There is very significant latent demand for this service and we have received an overwhelming response from preliminary discussions with Chinese banks for our service. Most Chinese banks handle significant numbers of U.S. denominated checks, whether payroll checks for U.S. citizens working in China, or for export related payments to international destinations.
ADVANCED FOREX BY CASH NOW
Advanced Forex by Cash Now is an introductory broker providing 24 hour access to a sophisticated trading platform, directly linked to the Interbank clearing systems, for active day traders. Heading the division is Peter Presland based at the Company's Florida office.
The Foreign Exchange market, also referred to as the "Forex" or "FX" market is the largest financial market in the world, with a daily average turnover of US$1.9 trillion - 30 times larger than the combined volume of all U.S. equity markets. "Foreign Exchange" is the simultaneous buying of one currency and selling of another. Currencies are traded in pairs, for example Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY). Industry estimates suggest that a full 95% of trading is speculative, and not tied to international trade.
Advanced Forex works on a revenue sharing agreement with Advanced Markets. Traffic to the trading site will be driven by Cash Now which has a proven track record in this regard and create a client base of active traders. In addition, the large number of day traders who have been following developments in this area will now have access to the service.
The Company has plans to switch to a new service provider and begin to diversify its Forex related services to include advanced charting and trading analysis software, as well as introducing managed trading and other value-added services in the upcoming quarters.
LEADERSHIP
Dongmei Jia, Chairman and CEO
GOOD LIFE CHINA DIVISION
Wenpeng GUI, Vice President, E-Commerce
Baoxin Yang, Vice President, Logistics
Guoying Zhang, CFO
Ming Zen, CTO
NORTH AMERICAN DIVISION
Peter Presland, COO, Forex Trading Division
Garr Winters, Secretary
Peter Tate, Sr Vp, Money Lending Business Division
July 17, 2008 Good Life China Corporation (GLCC) New Store Openings
BEIJING, July 17, 2008 /PRNewswire-FirstCall via COMTEX/ -- Good Life China Corporation Pink Sheets: GLCC) is (pleased to announce the new store openings. 8 new stores were launched recently. 3 are in Cangzhou, 2 are in Beijing, and 3 are in Shijiazhuang. In addition, 3 new suppliers were added to the Good Life Corporation network.
In other corporate updates, the issuer is in the process of compiling its 2nd Quarter financials which should be made available and filed on Pink Sheets the week of August 1st. The issuer concerned with the drastic decline in its share price, has identified an existing large shareholder (from The League Publishing days) through its transfer agent as one possible seller of its security. Their security was issued as restricted stock some 2 years ago and assigned as collateral, on a loan. The security recently matured, and was being sold by the assignee since around mid June, and not the actual shareholder. The issuer's advisors believe that the market will absorb these sales shortly. The issuer confirms that none of its principals participated in any sales and still control the original 80 million shares acquired in the reverse merger.
The common shares of the Company are currently dually listed in the USA Pink Sheets (symbol GLCC.PK) and the Frankfurt Stock Exchange (Xe:L9X). The issuer is in good standings with Pink Sheets and ranked as a "Current Information" filer with its security.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
The current stock price and 450M shares (170M outstanding) basically mean that each store is representing about 1500 dollars of total income and that’s hilariously underpriced. Although this could be a good long term investment, my idea is buying this week and holding it till after the games.
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