BEIJING, July 4 /Xinhua-PRNewswire/ -- eFuture Information Technology Inc. (Nasdaq: EFUT) ("eFuture"), a leading provider of front-end supply chain management software and services in China, today announced the appointment and hiring of Mr. Deliang Tong as chief operating officer in charge of business strategy planning and new business development. Mr. Tong currently serves as president of Beijing eFuture Royalstone Information Inc., a subsidiary of eFuture.
"We're pleased to announce that Mr. Tong, who we appointed in March, has undertaken his role as chief operating officer effective July 1st," said Mr. Adam Yan, eFuture's chairman and chief executive officer. "Mr. Tong's years of successful experience in management and strategic business development will be an invaluable asset to eFuture as we continue to harness China's rapidly growing retail sector and provide high-performance front-end supply chain management solutions to a growing number of domestic and international clients."
Mr. Tong founded Guangzhou Royalstone System Integration Co. Ltd ("Guangzhou Royalstone") in 1992, and served as the company's chairman and chief executive officer until eFuture acquired Crownhead Holdings Ltd. and its subsidiary Guangzhou Royalstone in August 2007. Under Mr. Tong's leadership, Guangzhou Royalstone had become a significant player in China's supply chain management software and service industry with a strong presence in Southern China and a client list that included a number of China's 100 companies. eFuture subsequently renamed Guangzhou Royalstone to eFuture Royalstone Information Inc., and Mr. Tong has served as the subsidiary's president since the acquisition.
From 1991 to 1992, Mr. Tong served as general manager of Southern China for Beijing Stone Group and as department manager for Sichuan Xinchao Computing Group from 1989 to 1991. Mr. Tong received his bachelor's and master's degrees in software engineering from the University of Electronic Science and Technology of China.
About eFuture Information Technology Inc.
eFuture is a leading provider of front-end supply chain management software and services in China. eFuture provides integrated software and service solutions to manufacturers, distributors, wholesalers, logistics companies and retailers in China's front-end supply chain market, especially in the retail and Fast Moving Consumer Goods ("FMCG") industries. eFuture currently serves more than 1,000 clients, including Fortune 500 companies, over 770 retailers and over 200 distributors operating in China. eFuture is also one of IBM's premier business partners in Asia Pacific and is a strategic partner with Oracle, Microsoft, JDA, Motorola and Samsung Network China. The company has over 650 employees and 20 branch offices across China.
For more information about eFuture, please visit http://www.e-future.com.cn/.
Safe Harbor
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of 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.
eFuture may also make written or oral forward-looking statements in periodic reports to the Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to first parties. Statements that are not historical facts, including statements about the company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: eFuture's anticipated growth strategies; eFuture's future business development, results of operations and financial condition; expected changes in the company's revenues and certain cost or expense items; eFuture's ability to attract customers and leverage its brand; trends and competition in the software industry; the company's ability to hire, train and retain qualified managerial and other employees; the company's ability to develop new software and pilot new business models at desirable locations in a timely and cost-effective manner; the expected growth of the Chinese economy and software market in the retail and consumer goods industries; and Chinese governmental policies relating to private managers and operators of software and applicable tax rates.
Further information regarding these and other risks is included in eFuture's annual report on Form 20-F and other documents filed with the SEC. All information provided in this press release and in the attachments is as of July 4, 2008, and the company undertakes no duty to update such information or any other forward-looking information, except as required under applicable law.
SOURCE eFuture Information Technology Inc.
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