BEIJING, Jan. 17, 2014 (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 agreement with Yonghui Superstores Co., Ltd. (Shanghai Stock Exchange: 601933, "Yonghui") to launch myStore, a social shopping network that connects consumers and their friends, retailers and consumers and engages the mass consumer communities at large.
Established in 2001 and listed on the Shanghai Stock Exchange in 2010, Yonghui was recognized as the 13th of the Top 100 Chain Retailers of China and the 7th of the Top 100 FMCG Enterprises of China in 2012, and was awarded the honorary title of National Advanced Employed Enterprise and National Labor Certificate by State Council of the country. The company is principally engaged in the operation of regular chain supermarkets and has developed into a large business group with services in modern logistics and agriculture, processed food, and industry development. Yonghui owns around 400 medium-to-large-sized stores in 17 provinces including Fujian, Zhejiang, Guangdong, Chongqing, Guizhou, Sichuan, Beijing, Shanghai, Tianjin, Hebei, Anhui, Jiangsu, Henan, Shanxi, Heilongjiang, Jilin, Liaoning, etc., with an area of over 3,000,000 square meter. Yonghui has been eFuture's client for more than 8 years, using eFuture's POS-ERP System for store operation, marketing and promotion system, as well as vendor supply chain system.
With the official launch of the Yonghui myStore yesterday, eFuture will provide to stores owned by Yonghui Superstores with integrated services such as mobile marketing, mobile shopping, and membership management to monitor and gather information on consumer behavior, such as purchasing patterns and reaction to marketing campaigns, through eFuture's renowned data analytics capabilities. eFuture will also develop the system interface with Yonghui's ERP system in its headquarter and stores.
Subscribers and followers to Yonghui myStore are now able to access the Yonghui stores, which will allow them to make orders and payments on myStore and pick up goods they purchased at stores, and share shopping experiences and interests with friends. The partnership of Yonghui and myStore will empower consumers and enable them to derive greater enjoyment and convenience from Yonghui myStore.
Mr. Adam Yan, Chairman and Chief Executive Officer of eFuture, said, "The Chinese consumer trend is now going SoLoMoMe , which means Social, Local, Mobile and Me signifying a shift to personal choice and personalization. myStore aims to revolutionize the retail experience for consumers and retailers by creating an unmatched social platform. The service enables shoppers to share shopping experiences, interests and recommendations, and empowers retailers to interact with their customers more proactively and effectively. With myStore, Yonghui can provide a truly personalized shopping experience, enhance its competitive position in this rapidly changing consumer landscape while greatly reducing the cost of services."
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 .
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 second 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. All information provided in this press release and in the attachments is as of August 13, 2012, and the Company undertakes no duty to update such information or any other forward-looking information, except as required under applicable law.
Investor Contact: Troe Wen, Company Secretary eFuture Information Technology Inc. +86 10 5293 7699
