eFuture Announces Appointment of Ms. Ping Yu As CFO

eFuture Information Technology Inc.

(the "Company" or "eFuture"), a leading provider of software and mobile social shopping network services to China's rapidly growing retail and consumer goods industries, today announced the appointment of Ms. Ping Yu to the position of Chief Financial Officer ("CFO") effective October 10, 2014 in Beijing Time. Ms. Yu replaces Mr. Adam Yan, eFuture's Chairman and Chief Executive Officer ("CEO"), who was serving as Acting CFO since May 14, 2013. Mr. Yan will continue as Chairman and CEO. Ms.Yu was CFO of the Company from January 2007 to July 2010 and has been serving as a director of the Company from January 2007 and the member and Chairman of the audit committee of the Company from March 2014. The Company also announced to appoint Mr. Weiquan Ren to serve as the Chairman of the audit committee, and Min Zhu, an independent director and the member of the corporate governance committee and the compensation committee, to serve as the member of the audit committee. Mr.Yan, Chairman and CEO of eFuture, commented, "I am pleased to welcome Ms. Yu back as a member of eFuture's management team. Her strong financial and accounting experience and in-depth knowledge of the Company make her the ideal person to lead eFuture's finance function. The management team looks forward to working closely with Ms. Yu."
Ms. Yu added, "I am delighted to take an active role with the Company again, help achieve the Company's financial objective of delivering profitable long term growth and maintain a healthy financial system." Ms. Yu was also CFO of Prudent Energy. Prior to joining Prudent, Ms. Yu was CFO of Lentuo International and led its successful NYSE IPO in 2010. She has also worked as an auditor and consultant with Golf & Wrobleski in New York, as well as gaining additional professional experience in the banking and real estate industries. Ms. Yu received her bachelor's degree in accounting from Hubei University and her master's degree in business administration from Rutgers University. She is a Certified Public Accountant in the United States.