Fuzhou: 99 Speed Mart Retail Holdings Bhd has confirmed the opening of its first store in China, located in Fuzhou, Fujian Province, on August 31. In a filing with Bursa Malaysia today, the company affirmed the media reports published in local newspapers regarding its overseas expansion.

According to BERNAMA News Agency, the company plans to establish prototype outlets in Fuzhou, with intentions for gradual expansion within the city. The introduction of these stores marks 99 Speedmart’s first venture into the Chinese market, aiming to tap into the growing retail sector in Fujian Province.

The company clarified that the establishment of the store is not anticipated to have a material impact on the group’s earnings or net assets for the financial year ending December 31, 2025. This strategic move is seen as a step towards exploring new markets while maintaining a cautious approach to financial commitments.