QKL Stores Inc. Opens Two New Stores

2011-01-31 21:36 823
--Company Opens 47th and 48th Stores--

DAQING, China, Jan. 31, 2011 /PRNewswire-Asia/ -- QKL Stores Inc. (the "Company") (Nasdaq: QKLS), a leading regional supermarket chain in Northeastern China, today announced the opening of two new stores.

The Company's 47th store, situated in Mulan County, Heilongjiang Province, was opened on January 25th, 2011. Mulan County, with a population of approximately 250,000 residents, is known for its timber resources. QKL's supermarket utilizes approximately 4,200 sq. meters of gross space and is located in an area of the County that can serve up to 80,000 potential customers.

The Company's 48th store, located in Arongqi County, Inner Mongolia, was opened on January 26th, 2011. The supermarket is located in the center of the new development district of the urban area, serving a base of approximately 100,000 Chinese customers. The Company's supermarket in this location occupies approximately 3,000 sq. meters of gross space.

Mr. Zhuangyi Wang, Chairman and CEO, said, "Opening new stores in new counties is an important part of our long-term growth strategy. We look forward to playing an integral role in the retail communities of Mulan and Arongqi County by offering their residents a wide range of high-quality grocery products. These two new stores opening bring the total number of Company store locations to 48 for an aggregate total of approximately 257,000 sq. meters of store space. This is comprised of 32 supermarkets, 13 hypermarkets and three department stores.

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 48 retail locations for an aggregate total of 257,000 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.

Contact Information



In China:

Mike Li, Investor Relations



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In U.S.:

Bill Zima


In China:

Yuening Jiang




Source: QKL Stores, Inc.
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Keywords: Retail Supermarkets