eFuture to Provide China Duty Free Group With Enterprise Resource Planning Software
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 travel retailer."
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.