Website helps local suppliers enter retail stores across China
BEIJING, April 22 /Xinhua-PRNewswire/ -- eFuture Information Technology Inc. (Nasdaq: EFUT) ("eFuture"), a leading front-end supply chain management software and service company in China and Beijing Wangku Hutong Information Technology Co., Ltd. ("Wangku"), one of China's leading retail business-to- business ("B2B") e-commerce service providers, today announced the launch of a 100-day public testing pilot of http://www.jindian.com.cn ("China Jindian"), a jointly-designed B2B website for small to medium-size suppliers and retailers.
"In Mandarin Chinese, 'Jindian' literally means 'enter the store,' which is exactly our goal," said Mr. Adam Yan, eFuture's chairman and chief executive officer. "Over 80 percent of local suppliers do business directly with local retailers. With China Jindian, we're leveraging our strong relationships with China's retail clients to help local suppliers enter retail stores across the country. This exciting development simplifies the supply chain and will also help our over 700 retail clients, which use over 500,000 suppliers and include many of China's top 100 retailers, expand their procurement sources, increase procurement efficiency and reduce procurement cost."
The China Jindian online platform provides a searchable database of subscriber-posted listings focusing on the retail and consumer goods industries. On the website, suppliers can post listings with product descriptions, contact information, location and in some cases videos showcasing the suppliers' factories. The postings are separated by category, brand and location and searchable by retailers, who can post requests for products and suppliers, store information and details about new store openings.
"Our leading position in e-commerce, team of over 100 partners, which have over 2,000 salespeople, and network of more than 200,000 member clients are an ideal complement to eFuture's supply chain management capabilities and relationships with China's top retailers," said Mr. Haibo Wang, Wangku's chief executive officer. "There are millions of small to medium-size retailers and suppliers in China that, while wanting to do business in the national retail market, simply don't have the medium to meet and exchange information with national retailers. China Jindian's user-friendly and reputable e-commerce platform ensures efficient communication and opens the door for future generations of retailers and suppliers in China to succeed."
About Wangku Hutong Information Technology Co., Ltd.
Wangku, through its http://www.99114.com.cn website, is a leading provider of B2B e-commerce service solutions focused on helping suppliers to utilize the Internet rather than traditional Industry Yellow Pages. 99114.com.cn is a B2B portal and procurement link connecting manufacturers, distributors, resellers and retailers. Wangku initiated its "Yi Wang Tong" service (a one- stop enterprise B2B e-commerce service package), which integrates the functions of accessing websites, promotion, interaction, authentication and transaction.
As one of the leading B2B e-commerce service enterprises in China, Wangku has received significant industry attention, and has been awarded one of China's "Top-100 Commercial Websites," "Top-100 Web 2.0 Websites" and "Top- 100 B2B e-Commerce Websites" for its success in the field of e-commerce.
For more information about Wangku, please visit http://www.99114.com.cn .
About eFuture Information Technology Inc.
eFuture is a leading provider of front-end supply chain management software and services in China. eFuture provides one-stop-shop 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 900 clients, including Fortune 500 companies, over 700 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 600 people 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. Among other things, 2008 financial outlook and quotations from management in this announcement, as well as strategic and operational plans, contain forward- looking 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's and pilot new business model at desirable locations in a timely and cost-effective manner; the expected growth of the Chinese economy software market in 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 April 22, 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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