Q&K Files Annual Report on Form 20-F for Fiscal Year 2020

Rhea-AI Summary

Q&K International Group Limited (NASDAQ: QK) filed its annual report on Form 20-F for the fiscal year ending September 30, 2020, with the SEC on February 16, 2021. The report is accessible on the Company's investor relations website and the SEC's website. Q&K is a technology-driven long-term apartment rental platform in China, providing affordable apartments and value-added services to young urban residents. The Company focuses on leveraging technology to enhance operational efficiency and tenant experience.

Positive

• Technology-driven approach enhances operational efficiency.
• Offers affordable rental solutions for urban residents.

Negative

• Risks associated with maintaining growth amid the pandemic.
• Uncertainties in financing and profitability.

SHANGHAI, China, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Q&K International Group Limited (NASDAQ: QK) (“Q&K” or the “Company”), a leading technology-driven long-term apartment rental platform in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended September 30, 2020 with the Securities and Exchange Commission ("SEC") on February 16, 2021.

The annual report can be accessed on the Company's investor relations website at https://ir.qk365.com/ as well as the SEC's website at http://www.sec.gov. The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders upon request. Requests should be directed to the Company's IR Department at ir@qk365.com.

About Q&K

Q&K International Group Limited (NASDAQ: QK) is a leading technology-driven long-term apartment rental platform in China. The Company offers young, emerging urban residents conveniently-located, ready-to-move-in, and affordable branded apartments as well as facilitates a variety of value-added services. Q&K leverages advanced IT and mobile technologies to manage rental apartments in various cities in China. Technology is the core of Q&K’s business and is applied to its operational process from apartment sourcing, renovation, and tenant acquisition, to property management. The focus on technology enables Q&K to operate a large, dispersed, and fast-growing portfolio of apartments with high operational efficiency and deliver a superior user experience.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and the Company and its subsidiaries’ (collectively, the “Group”) operations and business outlook contain forward-looking statements. Such statements involve certain risks, uncertainties and other factors that could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include, but are not limited to the following: the Group’s ability to access financing on favorable terms in a timely manner and maintain and expand its cooperation with financial institutions; the Group’s ability to continue as a going concern in the future or achieve or maintain profitability; the Group’s ability to effectively respond to the challenges and uncertainties resulting from the COVID-19 pandemic and other outbreaks and catastrophes; the Group’s ability to manage its growth; the Group’s ability to integrate strategic investments, acquisitions and new business initiatives; the Group’s ability to control the quality of its operations, including the operation of the rental apartments managed by its own apartment managers or by third-party contractors; the Group’s ability to attract and retain tenants and landlords, including tenants and landlords from its acquired lease contracts; the Group’s ability to resolve disputes with third parties; the Group’s ability to manage its brand and reputation; the Group’s goal and strategies; the Group’s limited operating history; the Group’s ability to compete effectively; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Group’s filings with the U.S. Securities and Exchange Commission. Except as required by law, the Group does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:
Q&K
E-mail: ir@qk365.com

Christensen
In China
Mr. Rene Vanguestaine
Phone: +86-10-5900-1548
E-mail: rvanguestaine@ChristensenIR.com

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com

FAQ

What does QK's annual report contain?

QK's annual report includes audited consolidated financial statements for the fiscal year ended September 30, 2020.

When was QK's annual report filed?

QK filed its annual report on February 16, 2021.

Where can I access QK's annual report?

The annual report can be accessed on QK's investor relations website and the SEC's website.

What are the main services offered by QK?

QK offers affordable branded apartments and value-added services for young urban residents in China.

What risks does QK face according to the press release?

Risks include challenges in financing, maintaining profitability, and responding to the COVID-19 pandemic.