eFuture to Provide China Duty Free Group With Enterprise Resource Planning
BEIJING, Oct. 24, 2012 (GLOBE NEWSWIRE) -- eFuture Information Technology Inc.
(Nasdaq:EFUT) (the "Company" or "eFuture"), a leading provider of software and
services in China's rapidly growing retail and consumer goods industries,
today announced that it has recently signed an Enterprise Resource Planning
("ERP") software purchase agreement with China Duty Free (Group) Co., Ltd.
("CDF"), the only state-owned enterprise specializing in nationwide duty free
business, in China.
Under the ERP agreement, eFuture will provide their core products and
services, including full IT system consultation services and necessary retail
information management systems to help CDF perform a major upgrade of its
operational system in their Beijing headquarters, allowing CDF to improve its
operational and customer service efficiencies.
CDF has 160 duty-free shops in 29 cities and provinces in mainland China and
Taiwan, making it the largest operator globally in terms of the number of
duty-free shops operating in one country. CDF also possesses the most complete
range of duty free products, featuring more than 300 of the world's top luxury
brands, providing travelers with nearly a thousand types of merchandise in
over twenty categories.
eFuture's CEO, Mr. Adam Yan commented, "Our relationship with CDF started in
2006, when eFuture was appointed to develop an information and logistics
management system for CDF's overseas retail business. In 2009, we were chosen
to provide consultation and IT support services to CDF's Sanya Island
operation, a key national project implemented by the government tourism board
to set-up a new sales and financial reporting system for the
Sanya-domestic-duty-free policy. In order to accelerate its business growth
and remain globally competitive, CDF has engaged us again to review and
upgrade its IT infrastructure. eFuture's customized IT planning will also seek
to integrate operations, optimize the business process, improve management
efficiency, and strengthen the company's core competitiveness, helping CDF
diversify their portfolio from a traditional duty-free business to a developed
Mr. Yan concluded, "Since its founding, CDF has consistently upheld its
corporate mission to 'Share the Joy of Shopping and Extend the Pleasure of
Traveling', and this vision perfectly coincides with eFuture's corporate
mission 'To Create a Happy Consumer World'. With this common background, I
believe the two companies can seamlessly work together to build a better and
stronger Chinese retail industry for the future."
Following the rapid development of China's consumer goods and retail industry,
and through continuous innovation and excellent services, eFuture has
successfully helped many Global 500 and local leading brands to establish
their IT infrastructure across multiple geographies and business segments,
such as P&G, Pepsi, L'Oreal, GUCCI, Kimberly-Clark, Heng On, 361, City Beauty,
Belle, Suning Electrical Appliance , Lianhua, China Resources, Wangfujing
Department Store, Lufthansa, Wanda Department Stores, Wushang, Yonghui,
Shandong Ginza, Chongbai Group, Hebei North Group, Grandbuy and Guangyou.
ABOUT EFUTURE INFORMATION TECHNOLOGY INC.
eFuture Information Technology Inc. (Nasdaq:EFUT) is a leading provider of
software and services in China's rapidly growing 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 (from factory to consumer) market, especially
in the retail and fast moving consumer goods industries. For more information
about eFuture, please visit http://www.e-future.com.cn.
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. Among
other things, 2012 financial outlook and quotations from management in this
announcement, as well as strategic and operational plans, contain
forward-looking statements. 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 third 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 revenue and certain cost or expense items; eFuture's ability
to attract clients and leverage its brand; trends and competition in the
software industry; the Company's ability to control expenses and maintain
profit margins; 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 performance of third parties under contracts with
the Company; the expected growth of the Chinese economy software market in
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 will be included in
eFuture's annual report on Form 20-F and other documents filed with the SEC.
CONTACT: INVESTOR CONTACT:
eFuture Information Technology Inc.
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