eFuture to Provide Sanjiang Shopping Club Co Ltd With Enterprise Resource Planning Software
BEIJING, July 5, 2012 (GLOBE NEWSWIRE) -- eFuture Information Technology Inc. (Nasdaq:EFUT) (the "Company" or "eFuture"), a leading provider of software and services in China's rapidly growing retail and consumer goods industries, today announced that it has signed an Enterprise Resource Planning ("ERP") software purchase agreement with Sanjiang Shopping Club Co., Ltd. (SHA:601116) ("Sanjiang"), a community supermarket chain operator in Zhejiang province, China, on June 13, 2012.
Sanjiang, which mainly offers aquatic products, fresh food, drinks, daily necessities, and textile products for community residents, signed the agreement with eFuture in response to its need for an IT system upgrade to facilitate its market expansion and operational strengthening plans. In 2011, the company successfully held an IPO on the Shanghai Stock Exchange and recorded annual sales of RMB5.1 billion in the same year.
eFuture will provide their MCIS Retail Information Management System V 5.0 ("MCIS") to the entire network of Sanjiang supermarkets starting October 31, 2012. As of March 31, 2012, Sanjiang operates on 152 sites, with an aggregate business area of 466,581 square meters located in Zhejiang province and Shanghai, and has consistently performed as one of the top 100 chain retailers in China for the past 12 years. MCIS is a highly flexible and easy-to-deploy solution designed to enable retailers to optimize cost and resources in every part of their operations, such as managing orders, inventory, sales, invoicing and financial reporting.
eFuture's CEO, Mr. Adam Yan commented on the agreement. "Our ERP software provides Sanjiang a one-stop solution to their IT needs. We will ensure full technical and consultation support for our client, including systems evaluation, design, implementation, technical training and ongoing technical support. As with our other ERP clients, I hope to see Sanjiang's business gain a competitive edge and realize greater profitability in the near future."
ABOUT EFUTURE INFORMATION TECHNOLOGY INC.
eFuture Information Technology Inc. (Nasdaq:EFUT) is a leading provider of software and services in China's rapidly growing retail and consumer goods industries. eFuture provides integrated software and services to manufacturers, distributors, wholesalers, logistics companies and retailers in China's front-end supply chain (from factory to consumer) market, especially in the retail and fast moving consumer goods industries. For more information about eFuture, please visit http://www.e-future.com.cn .
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, 2012 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 third 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 revenue and certain cost or expense items; eFuture's ability to attract clients and leverage its brand; trends and competition in the software industry; the Company's ability to control expenses and maintain profit margins; 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 performance of third parties under contracts with the Company; 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 will be included in eFuture's annual report on Form 20-F and other documents filed with the SEC (SCUR). All information provided in this press release and in the attachments is as of March 12, 2012, and the Company undertakes no duty to update such information or any other forward-looking information, except as required under applicable law.
CONTACT: INVESTOR CONTACT: Troe Wen, Company Secretary eFuture Information Technology Inc. T: +86-10-5293-7699 E: email@example.comSource: eFuture Information Technology Inc. 2012 GlobeNewswire, Inc.