eFuture Named China's Number One Retail Industry IT Service Providers by Market Share
BEIJING, Sept. 25, 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 it was named China's number one retail industry IT service provider measured by market share in International Data Corporation ("IDC")'s China Retail Industry IT Solution 2012-2016 Forecast and Analysis Report ("IDC report").
eFuture has been named by IDC as a top IT service provider in the retail industry for two consecutive years, with market share increased to 10.3% in 2011 from 6.85% in 2010. According to IDC report, there are more than 140 IT service providers offering solutions to the retail industry in China, top 10 providers generated a combined RMB1,009 million in revenue, an increase of 46% from RMB689 million in 2010. Market share of the top 10 providers also expanded to 42.9% from 37.6% in 2010.
Mr. Adam Yan, eFuture's Chairman and Chief Executive Officer, said, "We are honored to have been once again retained as the number one retail industry IT service provider, it is a recognition of eFuture's performance over the past few years. eFuture has continually increased its revenue-generation source by expanding its IT solution offerings and simultaneously increased its market share in the retail and consumer goods industries by expanding its geographical reach and customizing solutions for customers. In the future, we will follow through on our mission to provide innovative solutions to customers and will continue to execute on our proven effective strategies for eFuture's long-term growth and to help promote the development of the industry as a whole."
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: firstname.lastname@example.orgSource: eFuture Information Technology Inc. 2012 GlobeNewswire, Inc.