DAQING, China, Dec. 30, 2010 /PRNewswire-Asia/ -- 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 43rd store, situated in Manzhouli City, Inner Mongolia, was opened on December 30th, 2010. Manzhouli is China's biggest inner land trade port with Russia. The Hypermarket is located in the center of the business district, serving over 100,000 Chinese and Russian customers. This hypermarket occupies approximately 9,000 sq. meters of gross space and is the largest modern grocery store in the city.
Mr. Zhuangyi Wang, Chairman and CEO, said, "We are pleased to open our new store opening in Manzhouli, which is our third store opened in Inner Mongolia. We believe the unique and broad product section within our stores can appeal to a growing customer audience and we consequently remain focused on further broadening our store presence in the northeast China region."
This store opening brings the total number of the Company's store locations to 43 for an aggregate total of 226,000 sq. meters of store space. This is comprised of 29 supermarkets totaling 90,000 sq. meters, 11 hypermarkets totaling 85,000 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 43 retail locations for an aggregate total of 226,000 sq. meters of store space. 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.