BEIJING, Dec. 29 /Xinhua-PRNewswire/ -- e-Future Information Technology Inc. (Nasdaq: EFUT; "e-Future"), a leading front supply chain management software and service company in China, today announced that China Resources Vanguard Co., Ltd. (“CRV”) has successfully deployed e-Future’s Store Operation System (“SOS”) and Customer Service System (“CSS”) for stores based in Southern and Eastern China. The accelerated implementation of SOS and CSS system was started on August 15 and completed on December 20 this year.
CRV is one of the largest retail chain enterprises in China and a subsidiary of China Resources Enterprise, Limited (“CRE”). CRE is listed on the Hong Kong Stock Exchange (HKSE: 0291.HK) and is also traded on the London Stock Exchange.
CRV operates currently over 2,000 stores with more than 100,000 employees and ranks 4th in China Mainland in terms of sales with turnover of RMB 37.85 billion in 2006. In 2007, CRV acquired Home World in Tianjing.
“e-Future’s SOS system improved and optimized our store operation, including supply chain, marketing & sales, inventory management, category structure and inventory turnover. e-Future’s CSS system has enabled us to integrate the scattered Prepaid Card and Membership Card issued separately in Southern and Eastern China into a cross-region central customer service system,” said Mr. Chen Lang, CEO of CRV, “Based on the successful experience in South China, we are going to roll out in other regions across China as a necessary step and firm foundation of our customer-oriented strategy.”
“We are very pleased to be a major IT vendor to CRV,” said Mr. Adam Yan, Chairman and Chief Executive Officer of e-Future, “By increasing visibility of the demand chain from consumer to store, e-Future is helping retailers make smarter decisions for customer demand and to get more profitable results.”
About e-Future Information Technology Inc.
e-Future is a leading software and service provider in China’s front-end supply chain market from manufacturers to consumers, especially in retail and the Fast Moving Consumer Goods (‘‘FMCG’’) market for manufacturers, distributors, wholesalers, logistics companies and retailers. e-Future’s clients are centered in the retail, automotive, general household appliance and consumer goods industries.
e-Future now serves more than 800 clients, including over 500 retailers and over 200 distributors and Fortune 500 companies that do business in China including Procter & Gamble, Johnson & Johnson, Kimberly-Clark, the Chang’an Motors and Ford Motors joint venture, B&Q-Kingfisher China, GUCCI China, Aeon- JUSCO China, PARKSON China, SOGO China and Mickey’s Space stores (Disney franchises). Leading local companies include Belle, Lianhua, Suning, Wuhan Zhongbai, Wushang Group, Bubugao, Yonghui and China Duty-Free Stores.
Moreover, e-Future is also one of IBM’s premier business partners in Asia Pacific as well as the partner of Oracle, Microsoft, JDA, SAMSUNG and Motorola. e-Future has 19 branch offices in 31 provinces in China with over 600 employees including 250 consultants and service professionals and 270 programmers for software research and development and customization.
For more information about e-Future, please visit
http://www.e-future.com.cn English channel.
About China Resources Vanguard Co., Ltd.
China Resources Vanguard Co., Ltd. (“CRV”), one of the largest retail chain enterprise in China, is a subsidiary of China Resources Enterprise, Limited(“CRE”).
CRE is listed on the Hong Kong Stock Exchange (HKSE: 0291.HK) and is also traded on the London Stock Exchange. It is one of the constituent stocks of the Hang Seng Index in Hong Kong. The Group focuses on the consumer businesses in both the Chinese Mainland and Hong Kong, with core activities being retail, beverage, food processing and distribution, textile and property investment.
With more than 20 years development, CRV has become one of 20 nation-wide retail enterprise in China. In May 2004，CRE acquired Suguo Supermarket Co., Ltd. (“Suguo”). CRV and Suguo turn out to be the main force of supermarket business in CRE.
At the end of December 2006, CRV and Suguo operated 2,148 stores, with more than 100,000 employees and ranked number 4 in China Mainland in terms of sales with turnover of RMB 37.85 billion. In 2007, after the acquisition of the Home World by CRE, CRV became a national player.
At present, CRV operates Hypermarkets, Superstores, Convenience stores across the eastern, southern, northern, north-western, north-eastern and Hong Kong regions. Hypermarkets create “home-stay” feeling with daily necessities; Superstores follow modern fashions; Convenience stores highlight convenience; the brand-new “Ole” store which mainly located in Shenzhen and Peking city displays a modern shopping environment with its fashion and uniqueness.
With the established Brand Concept “Better Life Together,” CRV is dedicated to continuously improving customers’ life quality and leading healthy life style.
For more information about CRV, please visit http://www.crv.com.cn/about.asp .
For further information about CRE, please visit: http://www.cre.com.hk .
FORWARD-LOOKING STATEMENTS
This announcement contains statements that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. We caution investors that any forward-looking statements presented in this report, or which management may make orally or in writing from time to time, are based on beliefs and assumptions made by, and information currently available to, management. When used, the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “result,” “should,” “will” and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. Such statements are subject to risks, uncertainties and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties and factors that are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected by the forward-looking statements. We caution you that while forward-looking statements reflect our good-faith beliefs when we make them, they are not guarantees of future performance and are affected by actual events when they occur after we make such statements. Accordingly, investors should use caution in relying on forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.
Some of the risks and uncertainties that may cause e-Future’s actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements include, among others, the following:
-- general risks affecting the Chinese retail industry;
-- failure to effectively manage our growth and expansion or to integrate
acquisitions and developments successfully;
-- risks and uncertainties affecting software development;
-- risks associated with downturns in the Chinese national and local
economies;
-- risks associated with our dependence on key personnel whose continued
service is not guaranteed; and
-- the other risk factors identified in our most recently filed Annual
Report on Form 20-F, including those described under the caption “Risk
Factors.”
The risks set forth above are not exhaustive. Other sections of this report may include additional factors that could adversely affect our business and financial performance. Moreover, we operate in a very competitive and rapidly changing environment. New risk factors emerge from time to time and it is not possible for management to predict all risk factors, nor can it assess the impact of all risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Investors should also refer to our most recent Annual Report on Form 20-F for future periods and reports on Form 6-K as we file them with the Securities and Exchange Commission, and to other materials we may furnish to the public from time to time through Forms 6-K or otherwise, for a discussion of risks and uncertainties that may cause actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements. We expressly disclaim any responsibility to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events, or otherwise, and you should not rely upon these forward-looking statements after the date of this report.
