SHANGHAI, July 20, 2017 /PRNewswire/ -- 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's consolidated affiliated entity in China, Shanghai Zhongmin Supply Chain Management Co., Ltd., Nippon ACCESS Inc ("ACCESS"), and TANSH Global Food Group Co., Limited ("TANSH", formerly Xiao Nan Guo Restaurants Holdings Limited) (HKEx: 3666) have reached a three-way partnership agreement on the strategic development of China's food and beverage market and had signed a Letter of Intent on Business Cooperation. Under this collaboration, the Company will continue its strategy to build the food catering and hotel B2B2C supply chain platform, and will fully cooperate with ACCESS and TANSH to develop international trade, research and development of food materials and food products, as well as overall supply chain cooperation. Specific cooperation includes the following:
Ms. Xiaoxia Zhu, JMU's Co-Chairperson and CEO commented: "The development of China's catering industry not only needs a base in the domestic market, but also needs to open internationally and to introduce premium food materials and products, advanced research in production technology and more efficient supply chain service management experience. I look forward to working with ACCESS and TANSH to greatly improve JMU's competitive product line, service quality, and to create value for more of our partners. In the future, our food will be safer, healthier, and more delicious, and allow the international exchange of food and cooperation to be more efficient, extensive, and broad."
Founded in 1952, ACCESS is one of Japan's largest food distribution companies with more than half a century of experience in food circulation and advanced technology. One of the world's Fortune 500 companies, ITOCHU, holds a 93.77% stakes in the company. ACCESS focuses on the fields of food supply chain with annual sales of RMB125 billion (approximately US$ 18.5 billion), business coverage, convenience stores pharmacies, and others. Its 2017 business strategy is to expand overseas to international markets, with a focus on mainland China, Hong Kong, Taiwan, and Southeast Asia and North America.
TANSH is a Chinese company listed in Hong Kong with over 30 years of history as a global catering brand investment development group. The company's brands offer a variety of formats, including Chinese food, Western food, and casual dining, and includes Shanghai Xiao Nan Guan, Nan Xiao Guan, Hui Gong Guan, ORENO, Pokka Café, Wolfgang Puck, The BoatHouse, Mai Chi Ling, and other invested and managed international brands.
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. For more information, please visit: http://ir.ccjmu.com.
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:
Freda Feng, IR Director
JMU Limited
fengxiaohong@ccjmu.com
Tel: +86-21-6015-1166 ext.8904
Bill Zima
ICR Inc.
bill.zima@icrinc.com
Tel: +1(203)-682-8200