SHANGHAI, China, Jan. 03, 2017 (GLOBE NEWSWIRE) -- JMU Limited (the “Company” or “JMU”) (NASDAQ: JMU ), a leading B2B online e-commerce platform that provides integrated services to suppliers and customers in the foodservice industry in China, today announced that the Company has entered into a partnership agreement with the Jinyi Comprehensive Free Trade Zone (“Jinyi FTZ”).
Jinyi Comprehensive Free Trade Zone was established in November 2015, covering an area of 1.79 square kilometers in the middle of Zhejiang Province. Jinyi FTZ's beneficial offerings include preferential tax rates, protective tariff supervision, foreign exchange administration, inspection and quarantine, and processing trade for companies that invest/operate in the region.
As one of the first twelve enterprises to be introduced into the Jinyi FTZ, JMU will build a cross-border platform as a sub-platform of JMU’s online marketplace to provide integrated and comprehensive services for companies in the restaurant and hotel industries. The company will take advantage of favorable tax policy and facility resources that furnish bonded processing, trade and logistics services in the Jinyi FTZ to establish an efficient supply chain platform that connects domestic and international food material centers and introduces premium food products from international suppliers to enrich the selection of products on the JMU marketplace. The platform will facilitate efficient food material import and export transactions and provide clients in the catering industry with O2O exhibitions and bonded logistic services.
Ms. Xiaoxia Zhu, Co-chairperson and Chief Executive Officer commented, “We are pleased and honored to be part of the ecosystem in Jinyi FTZ to facilitate the communication and cooperation between upstream and downstream enterprises in the food and catering industry. We will work together with Jinyi FTZ to develop a new channel for food import trades in the Jinhua and Yiwu regions. Additionally, a featured supply chain platform will be forged together to provide customers with custom bonding and logistics services for their procurement of imported ingredients. We also plan to export food materials to foreign countries in the future as the opportunities arise. These efforts complete a comprehensive supply chain solution for our clients. We look forward to the future development of the platform and its contribution to the catering industry.”
About JMU Limited
JMU Limited currently operates China’s leading B2B online e-commerce platform that provides integrated services to suppliers and customers in the catering industry. With the help of Internet and cloud technologies, JMU has the vision to reshape the procurement and distribution pattern and build a fair business ecosystem in the catering industry in China. JMU is further promoting the use of its platform for small- and medium-sized restaurants and restaurant chains in China.
Through cooperation with national and local industry associations and reputable restaurant groups across China, JMU has formed a leading industrial alliance and has great resource leverage in China’s catering industry. JMU works closely with suppliers and customers in the catering industry, providing one-stop procurement services, as well as other value-added services.
Safe Harbor Statement
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 “aim”, “anticipate”, “believe”, “estimate”, “expect”, “going forward”, “intend”, “ought to”, “plan”, “project”, “potential”, “seek”, “may”, “might”, “can”, “could”, “will”, “would”, “shall”, “should”, “is likely to” and the negative form of these words and other similar expressions. Among other things, statements that are not historical facts, including statements about JMU’s beliefs and expectations, the business outlook and quotations from management in this announcement, as well as JMU’s strategic and operational plans, are or contain 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: The general economic and business conditions in China may deteriorate. The growth of Internet and mobile user population in China might not be as strong as expected. JMU’s plan to enhance customer experience, upgrade infrastructure and increase service offerings might not be well received. JMU might not be able to implement all of its strategic plans as expected. Competition in China may intensify further. All information provided in this press release is as of the date of this press release and are based on assumptions that we believe to be reasonable as of this date, and JMU does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Contact: Lichao Zhao, IR Director JMU Limited zhaolichao@ccjmu.com Tel: +86-185-1627-8876 Bill Zima ICR Inc. bill.zima@icrinc.com Tel: +1(203)-682-8200
