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eFuture Launches Cloud Service Offering in Celebration of 5-Year NASDAQ Listing Anniversary(October 31, 2011)
BEIJING, Oct. 31, 2011 (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 will celebrate the fifth anniversary of its NASDAQ listing and the launch of its cloud service offering on November 4, 2011 at the 13th China Retail Industry Convention. eFuture debuted on the NASDAQ on October 31, 2006.
Organized by the Chain Store & Franchise Association ("CCFA"), the 13th China Retail Industry Convention and China Chain Store Expo will be held from November 4-6, 2011 in Changsha, Hunan Province. eFuture's cloud service launch and fifth anniversary listing celebration will take place on Friday, November 4, 2011, and will be attended by senior executives from China's Top 100 retailers, industry experts and representatives from leading media outlets.
eFuture's cloud service offering will consist of a mobile-based Sales Force Automation ("SFA") platform that sales teams of consumer goods companies can access via Android or iPhone. Rather than being required to make a significant upfront license fee payment, cloud service users are charged a monthly fee, therefore resulting in a cost-effective solution for clients and recurring revenue for eFuture.
Designed specifically for the fast moving consumer goods industry, this user-friendly solution speeds up and simplifies all aspects of the sales process. eFuture's cloud service offering enables clients to increase revenue by taking advantage of real-time information on replenishment and promotions, as well as by allowing sales teams to intensify their focus on managing customer relationships, and by providing tools to enhance the performance of travelling sales representatives.
Adam Yan, Chairman and Chief Executive Officer, said, "I'm delighted to announce the official launch of our cloud service offering, which coincides with the fifth anniversary of eFuture's NASDAQ listing. Our cloud service platform offers clients an exciting new solution to increase the productivity of their sales processes without paying for additional hardware or software, as well as enhancing user convenience. Our cloud service business represents a broadening of our portfolio of innovative solutions and services, and offers additional opportunities to expand relationships with existing clients and attract new ones within China's rapidly growing retail and consumer goods industries. While we expect near- and mid-term revenue growth to be driven primarily by the continued development of our more established business lines, we view our cloud service business as a potential additional growth driver over the long term."
"Over the last five years, we are proud to have transformed eFuture from a retail solutions provider into a one-stop, client-driven, end-to-end total solutions provider for China's front-end supply chain serving a wide range of clients including Fortune 500 companies. By leveraging our leading market share in China's retail and consumer goods software and services industry, extending our geographic reach within China and capitalizing on market opportunities, we succeeded in tripling our revenue between 2006 and 2010."
"As we focus on achieving profitable growth over the long term, we remain committed to good corporate governance as well as to achieving our vision of creating a happy consumer world of interconnected consumers, retailers, suppliers and employees. This vision positions eFuture as an increasingly integral part of front-end supply management in China, thus ensuring the Company's long-term health and business expansion."
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.
CONTACT: Investor Contact
Troe Wen, Company Secretary
eFuture Information Technology Inc.
+86 (10) 5293 7699
Investor Relations (Hong Kong)
+852 3196 3712
Investor Relations (US)
+1 (212) 889 4350
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