DAQING, China, July 31, 2014 /PRNewswire/ — QKL Stores Inc. (the “Company”) (Nasdaq: QKLS), a leading regional supermarket chain in Northeastern China, today announced the opening of one new hypermarket.
The Company’s 48th new store, situated in Daqing City, Heilongjiang, was opened on July 18, 2014. The hypermarket is located in a remolded shopping mall in the center of the commercial district of the east city, serving about 500,000 potential customers. This hypermarket occupies approximately 8,400 sq. meters of gross space.
Mr. Zhuangyi Wang, Chairman and CEO, said, “We are delighted to open another store in our “home” city of Daqing city, where the QKL brand is widely recognized. Our business has developed rapidly since we opened our first store in Daqing City in 1999 and we believe the value and convenience of our stores in Daqing has resulted in strong customer loyalty in the local community. Our new store will provide the opportunity to introduce our broad assortment of high quality products and unique shopping experience to a new group of customers in Daqing City. We are pleased to open our third store this year.”
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