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QKL Stores Inc. Announces Two New Store Openings

2009-01-02 12:15 2338

DA QING, China, Jan. 2 /PRNewswire-Asia/ -- QKL Stores Inc. (the "Company") (OTC Bulletin Board: QKLS), a leading regional supermarket chain in Northeast China, today announced the opening of two new supermarkets in Heilongjiang Province and Inner Mongolia.

The Company's 29th new store is situated in Boli City, China, with a population of approximately 120,000 people. QKL Stores' supermarket opened its doors on December 22, 2008, and is located in the underground portion of the Dongbeiya Shopping Mall. The Company occupies more than 108,000 square feet of leased space, with nearly 42,000 square feet attributed to the supermarket and the remaining 16,892 square feet attributed to the 0ur teanant area.

The 30th new store is located in Hailar, a capital city of Hulunbuir in Inner Mongolia, which has a population of approximately 300,000 people. Hailar is reknowned for its farming and mining business as well as its solid tourism industry and foreign trade with Russia. The Hailar store opened its doors on December 28, 2008. This new supermarket is located in the Huahui shopping center in the commercial hub of the city. The supermarket is approximately 49,500 square feetand the tenant area is roughly 32,285 square feet.

Mr. Zhuangyi Wang, Chairman and Chief Executive Officer, said, "With the addition of these two new supermarkets, we currently operate 30 stores comprised of 26 supermarkets, 2 department stores, and one convenience store, for nearly 1,363,593 square feet of space. The two new locations warranted larger stores, and we are pleased to offer an expanded non-food product selection to customers in these regions. We continue to focus on growing our margin opportunity while increasing sales. We remain confident in our expansion strategy and look forward to furthering our success in 2009."

About QKL Stores Inc.:

Based in Daqing, China, QKL Stores Inc. is a leading regional supermarket chain company operating in Northeast China. QKL Stores sells a broad selection of merchandise, including groceries, fresh food, and non-food items, through its retail supermarkets, convenience store, and department store; the company also has its own distribution centers that service its supermarkets.

Contact Information

Company Contact:

QKL Stores Inc.

Tel: +86-45-9460-7987

Investor Relations:

In the U.S.:

Abbie Gellman

Tel: +1-203-682-8200

In Asia:

Bill Zima & Annie Chen

Tel: +86-10-8523-3087

Source: QKL Stores Inc.
Related Stocks:
NASDAQ:QKLS
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