DA QING, China, Dec. 11 /PRNewswire-Asia/ -- QKL Stores Inc. (the "Company") (OTC Bulletin Board: QKLS), a leading regional supermarket chain in Northeast China, today announced the opening of three new supermarkets in Heilongjiang Province.
The Company's first new supermarket is situated in Nehe City, China, the "granary of the north," with a population of more than 170,000 people. QKL Stores' supermarket opened its doors on November 11, 2008, and is located in the business center of the city. It occupies slightly more than 30,000 square feet of leased space in Wan Long Plaza, a five-story building and the largest shopping mall in Nehe City.
The second new supermarket is located in Anda City, China, which has a population of approximately 230,000 people and is located 30 kilometers from Daqing. The Anda store opened its doors on November 21, 2008. This new supermarket is located on the first floor of the Longmei shopping center, which is the main business district in Anda City. The supermarket occupies nearly 27,000 square feet of leased space and carries a wide variety of grocery, fresh food, and non-food products.
The Company's third new supermarket was opened on November 29, 2008, and is situated in Fuyu County, an important transportation hub in Qiqihar in the northern section of Heilongjiang Province with a population of 110,000. The Company's Fuyu supermarket is more than 29,000 square feet and is located on the first floor of the Xinshuguang shopping center, which is the main commercial area in Fuyu.
Mr. Zhuangyi Wang, Chairman and Chief Executive Officer, said, "As expected, we opened three new supermarkets in November, all of which are located in shopping centers in the main commercial areas. We are on track to open two more supermarkets in December. With the addition of these three new supermarkets, we currently operate 28 stores comprised of 25 supermarkets, 2 department stores and 1 convenience store, for nearly 1.1 million square feet of space."
He continued, "Our customers are finding that we offer incredible customer service, the freshest products, and a great selection, all at consistent, low prices. We set out to differentiate ourselves and give customers a reason to choose us and we continue to achieve that goal with each new supermarket. We are pleased with our accomplishments and are proud to expand our store presence in the Northeast China region."
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.
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:
Company Contact:
Rhett Xudong Wang
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
