QKL Stores Inc. Opens Two New Hypermarkets
DAQING, China, Jan. 22, 2014 /PRNewswire/ -- QKL Stores Inc. (the "Company") (Nasdaq: QKLS), a leading regional supermarket chain in Northeastern China, today announced the opening of two new hypermarkets.
The Company's 46th new store, situated in Zhalantun City, Inner Mongolia, was opened on January 8, 2014. Zhalantun City, with a population of approximately 450,000 residents, is known as the political, economic, culture and medical centers of east Xing'anling area, Inner Mongolia. The hypermarket is located in a new shopping mall in the center of the commercial district of the city, serving about 160,000 potential Chinese customers. This hypermarket occupies approximately 8,500 sq. meters of gross space.
The Company's 47th new store, situated in Jiansanjiang City, Heilongjiang Province, was opened on January 16, 2014. Jiansanjiang City, with a population of approximately 200,000 residents, is known as the "big farm land" which has 15 large-sized state-owned farms. The hypermarket is located in the center of the commercial district of the city, serving about 200,000 potential Chinese customers. This hypermarket occupies approximately 10,300 sq. meters of gross space.
Mr. Zhuangyi Wang, Chairman and CEO, said, "Opening new stores in new cities is an important part of our long-term growth strategy. We look forward to playing an integral role in the retail communities of Zhanlantun and Jiansanjiang City by offering their residents a wide range of high-quality grocery products. We are pleased to open our first two stores in this quarter and are encouraged with the schedule of our 2014 store opening plan."
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. For more information, please access the Company's website at: www.qklstoresinc.com.
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.
Mike Li, Investor Relations
SOURCE QKL Stores Inc.