BEIJING, July 23 /Xinhua-PRNewswire/ -- eFuture Information Technology Inc. (Nasdaq: EFUT) (“eFuture”), a leading provider of front-end supply chain management software and services to China’s retail and consumer goods industries, today announced that it has signed a contract to provide its mySHOP Retail Business Management System 3.0 (“mySHOP 3.0” or “the system”) to Tiens Group Co., Ltd. (“Tiens Group”). eFuture will install the system at Tiens Group’s six distribution centers, 100 subsidiary stores, 100 direct-sales stores and 1,000 franchised chain stores, which have a total customer base of over 10 million.
“We are excited to be rolling out one of our high-performance software solutions to support Tiens Group’s wide-ranging global operations,” said Mr. Adam Yan, eFuture’s chairman and chief executive officer. “With the system’s intelligent analysis and decision-making data, Tiens Group will be equipped to streamline its business and increase competitiveness by centralizing operations and conveniently evaluating the performance of its individual stores. Moreover, our software is designed to provide maximum compatibility with the existing back-office software employed by Tiens Group and other retail clients.”
Once operational, mySHOP 3.0 will provide Tiens Group’s headquarters and subsidiary back-offices, direct-sales stores and franchise chain stores with procurement, sales and storage management capabilities. The highly centralized business management system will offer flexible and accurate operational analysis and decision-making data, supporting membership management such as purchase-based membership points, and allowing Tiens Group’s headquarters to better evaluate individual store performance.
eFuture will first deploy mySHOP 3.0 in a pilot stage covering Tiens Group’s four subsidiary stores, four direct-sales stores and 40 franchised chain stores in China and expects the pilot stage to be operational by December 2008. After the completion of an initial rollout, eFuture and Tiens Group expect to further collaborate to complete a nationwide expansion of the system to a further 96 subsidiary stores, 96 direct-sales stores and 1,000 franchised chain stores in 2009.
In July 2006, Tiens Group selected eFuture’s ONE POS-ERP R2003 Super Market Management System for its Bannerstore Supermarket. Since its selection, the R2003 Super Market Management system has been successfully implemented in Bannerstore’s headquarters back-office, six subsidiary stores, 17 direct-sales stores and 23 franchised chain stores.
About Tiens Group Co., Ltd.
Founded in 1995 by Mr. Li Jinyuan, Tiens Group Co., Ltd. (Amex: TBV) is a large-scale global enterprise with operations in over 190 countries and regions and with a customer base of over 16 million worldwide. Since 1995, Tiens Group has maintained continual, stable, and rapid growth. With an anchor business in advanced biotechnology, particularly in the areas of health food, health care, beauty care and home care products, Tiens Group is also involved in financing, real estate development, education, cultural exchanges, and modern logistics. Tiens Group is headquartered at the Henderson Center in Beijing, China, and has production plants in the Wuqing New Technology Development Zone of Tianjin, China.
Tiens Group is a direct selling company that is based on advanced biotechnology devoted to developing health and wellness products and a culture for a healthy lifestyle. Tiens Group operates a unique business model that rewards successful independent consultants for personal sales and leadership.
For more information on Tiens Group, please visit http://www.tiens.com/tiens/group/en/index.htm .
About eFuture Information Technology Inc.
eFuture Information Technology Inc. (Nasdaq: EFUT) is a leading provider of front-end supply chain management software and services to China’s 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 market, especially in the retail and fast moving consumer goods (“FMCG”) industries. eFuture currently serves more than 1,000 clients, including over 15 Fortune 500 companies, over 770 retailers and over 200 distributors operating in China. eFuture is one of IBM’s premier business partners in Asia Pacific and is a strategic partner with Oracle, Microsoft, JDA, Motorola and Samsung Network China. The company has over 629 employees and 20 branch offices across China.
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. Specifically, eFuture cannot guarantee that its systems will improve Tiens Group’s operations or increase its competitiveness. eFuture cannot guarantee the timetable stated for the rollout of mySHOP Retail Business Management System 3.0, nor the further expansion of mySHOP Retail Business Management System 3.0 past the initial testing stage mentioned herein.
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 first 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 revenues and certain cost or expense items; eFuture’s ability to attract customers and leverage its brand; trends and competition in the software industry; 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 expected growth of the Chinese economy and software market in the 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 is 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 July 23, 2008, and the company undertakes no duty to update such information or any other forward-looking information, except as required under applicable law.
For investor and media inquiries, please contact:
eFuture Information Technology Inc.
Tel: +86-10-5165-0998 x8804
Email: ir@e-future.com.cn
Andrew Keller
Ogilvy Financial, Beijing
Tel: +86-10-8520-3112
Email: andrew.keller@ogilvy.com
