Heilongjiang-based regional supermarket chain QKL Stores (OTC:QKLS) saw net income jump 216.9% year-on-year to $4.3 million in the fourth quarter of 2008. Fourth quarter revenue grew 178.9% year-on-year to $71.1 million. For the full year, QKL net revenues increased 74.8% to $161.5 million, while net income rose 55.6% to $9.0 million. The company opened nine new supermarkets and one new department store in 2008, including five supermarkets opened in the fourth quarter, bringing the company's total store count to 28 supermarkets and two department stores by December 31, 2008.

QKL plans to open an additional 30,000 square meters of retail space and a 20,000-square meter distribution center in 2009.