China Burns Much More Coal Than Reported, Complicating Climate Talks
By CHRIS BUCKLEY
China has been using up to 17 percent more coal a year than reported. By some estimates, that means almost a billion more tons of carbon dioxide released annually.
"During the second quarter, we opened 38 new stores and closed 59 stores. As of June 30, 2015, we had 1,948 directly operated stores in total.
Revenue for the second quarter increased 12.9% to RMB775.1 million or $125 million from RMB686.6 million for the same period in 2014. Same store sales for the second quarter increased by 16.7% compared to the same period in 2014. Same store was for the 1,768 opened before December 31, 2013 and which were still operating as of June 30, 2015. The increase in same store sales was primarily due to in-store promotional initiatives and marketing of pharmaceutical products.
Second quarter revenue contribution by product category was 23.1% from prescription drugs 23.9% for the same period in 2014, 41.4% from OTC drugs 39% for the same period in 2014, 18.7% from convenience and other products 18.8% for the same period in 2014, 12.1% from nutritional supplements 14.8% for the same period in 2014 and 4.7% from herbal products 3.5% for the same period in 2014.
Second quarter gross profit increased by 5.7% to RMB309.5 million or $49.9 million from RMB292.9 million for the same period in 2014. Gross margin for the second quarter was 39.9%, compared with 42.7% for the same period in 2014. The year-over-year decrease in gross margin was primarily the result of proactive promotional activities on pharmaceutical products.
Our portfolio of private label products included 2,155 types of products as of June 30, 2015. Sales of private label products represented approximately 14.7% of the revenue and 22% of the gross profit for the second quarter of 2015..."