BEIJING, July 23 /Xinhua-PRNewswire/ -- e-Future Information Technology Inc. (Nasdaq: EFUT; "e-Future")), a leading front-end supply chain management software and services provider in China, today announced that it has been selected to provide retail software outsourcing service by Beijing Jade Bird Sihua Information System Ltd. (Jade Bird Sihua), a subsidiary of Beijing Tianqiao Beida Jade Bird Sci-Tech Co., Ltd., (600657: SSE), a publicly traded company in the Shanghai Stock Exchange (SSE) of China. Jade Bird Sihua provides system integration solutions to various industries, including retail, public sectors and security.
Under the terms of the agreement, Jade Bird Sihua will outsource its retail software and service business of all its retail clients to e-Future given its leading position in the supply chain management software industry. e-Future will also take over Jade Bird Sihua's current major employees responsible for its retail software business to ensure the smooth integration and service of these retail clients.
"As collaboration is becoming increasingly important, we are looking for an industry leader, like e-Future, to help us work more efficiently to better serve our retail clients," said Mr. Ning Xu, CEO of Jade Bird Sihua. "Our partnership will deliver compelling solutions to the retail industry and accelerate the next wave of business cooperation in the Chinese software industry."
"We are excited by our first of many outsourcing opportunities. As most of Jade Bird Sihua's retail clients are large-sacle supermarkets and department stores based in north of China, we could further increase our market share and solidify e-Future's leadership in this area by this cooperation and we will continue to explore more opportunities for business outsourcing in the retail industry." said Mr. Adam Yan, Chairman and CEO of e-Future.
About e-Future Information Technology
e-Future is a leading provider of integrated software and professional services for manufacturers, distributors, wholesalers, logistics companies and retailers in China's supply chain market. e-Future's customers are centered in the retail, automotive, general household appliance and consumer goods industries. Its solutions are specifically designed to optimize demand processes from finished goods to customer checkout and to address supply chain management, business processes, decision support, inventory optimization, collaborative planning and forecasting requirements. e-Future's software solutions business is enhanced and supported by its consulting services and ongoing maintenance on existing software installations.
e-Future provides software products and services to over 660 clients, including over 400 retailers and over 230 distributors and Fortune 500 companies from across the world that are doing business in China. These clients include Proctor & Gamble, Johnson & Johnson, Kimberly-Clark, the Chang'an Motors and Ford Motors joint venture and other large companies operating in China's domestic markets, such as PANRIC, HAIER, SUNING, PARKSON, SOGO, Tians, Wangfujing, Homeway (acquired by Home Depot), Orient Home, China duty-free stores and AYAYA, etc.
e-Future currently serves 30% of the top 50 retailers in China and 30% of top 500 retailers in China. e-Future has also been selected to provide the retail software for JUSCO-Aeon China, B&Q China, GUCCI China, and Mickey's Space franchised stores that sell Disney products in China.
CAUTIONARY STATEMENT WITH RESPECT TO FORWARD-LOOKING STATEMENTS
This document may contain certain forward-looking information about e-Future that are intended to be covered by the safe harbor for "forward- looking statements" provided by the Private Securities Litigation Reform Act of 1995 and any other similar laws that may apply. Readers are cautioned not to place undue reliance on these forward-looking statements because they speak only as of the date on which they were made.
e-Future does not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date of these forward-looking statements or to reflect the occurrence of unanticipated events. Readers are also urged to carefully review and consider the various disclosures in e-Future's various SEC reports, including, but not limited to, its Annual Report on Form 20-F for the year ended December 31, 2006.
For more information about e-Future, please visit http://www.e-future.com.cn , English channel.
