QKL Stores Inc. Opens New Hypermarket in Fujin, China

2010-10-26 21:04 1108

    DAQING, China, Oct. 26 /PRNewswire-Asia-FirstCall/ -- QKL Stores Inc. (the "Company") (Nasdaq: QKLS), a leading regional supermarket chain in Northeastern China, today announced the opening of a hypermarket store.

    The Company's 41st store, situated in Fujin City, Heilongjiang Province, was opened on October 25th, 2010. Fujin City, also known as the "Hometown of Chinese soybean." is located in the center of the business district in Fujin serving over 250,000 customers in the urban area. The Company's single story hypermarket store occupies approximately 6,700 sq. meters of gross space.

    Mr. Zhuangyi Wang, Chairman and CEO, said, "We are pleased to open our new store in Fujin, which is our 2nd hypermarket opened this year.  We believe the unique and broad product section within our stores can appeal to a growing customer audience and we consequently remain focused on our store opening plan."

    The openings of the store bring the total number of the Company's store locations to 41 for an aggregate total of 205,000 sq. meters of store space. This is comprised of 30 supermarkets totaling 93,000 sq. meters, eight hypermarkets totaling 61,000 sq. meters and three department stores totaling 43,000 sq. meters. 

    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, hypermarkets and department stores; the company also has its own distribution centers that service its supermarkets. As of the date of this press release, the Company had 41 retail locations for an aggregate total of 205,000 sq. meters of store space. For more information, please access the Company's website at: .

    Safe Harbor Statement

    Certain statements in this release and other written or oral statements made by or on behalf of the Company are "forward looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. The forward looking statements are subject to a number of risks and uncertainties including market acceptance of the Company's services and projects and the Company's continued access to capital and other risks and uncertainties. The actual results the Company achieves may differ materially from those contemplated by any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements.

    For more information, please contact:

    In China:
     Mike Li, Investor Relations
     Tel:   +86-459-460-7987

    ICR, Inc.
     In U.S.:
     Bill Zima
     Tel:   +1-203-682-8233
     In China:
     Yuening Jiang
     Tel:   +86-10-6599-7965
Source: SOURCE QKL Stores Inc.
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