DAQING, China, Oct. 3, 2011 /PRNewswire-Asia/ -- QKL Stores Inc. (the "Company") (Nasdaq: QKLS), a leading regional supermarket chain in Northeastern China, today announced the opening of one hypermarket in Jilin Province and one supermarket in Inner Mongolia.
The Company's 52nd store, situated in Da'an city, Jilin Province, was opened on September 28th, 2011. Da'an City, with a population of approximately 400,000 residents, is located near the second largest oil field in Jilin Province. The Company's store is located in the central business district in Da'an city and occupies approximately 15,000 sq. meters of gross space and can serve over 100,000 potential customers.
The Company's 53rd store, situated in Zhalannuoer County, Inner Mongolia, was opened on September 30th, 2011. The store is located in the new developed district, utilizing approximately 6,600 sq. meters of gross space and serving approximately 100,000 potential customers. This is the Company's second store in Manzhouli City.
Including these two new stores, the Company currently has a total of 53 stores with a total of 323,000 sq. meters of store space. This is comprised of 33 supermarkets, 16 hypermarkets and 4 department stores.
Mr. Zhuangyi Wang, Chairman and CEO, said, "We are confident that our two new stores will prove to be very strong additions to our retail store base. With thirteen stores opened through the first nine months of this year, we have exceeded our annual store opening goal of 12 new stores. We are confident that QKL is well positioned to leverage its opportunities ahead and serve a growing base of customers who seek product quality and value and convenient store locations."
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 53 retail locations for an aggregate total of 323,000 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.
QKL Stores, Inc.
Mike Li, Investor Relations
SOURCE QKL Stores Inc.