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eFuture Signs First Mobile Cloud Service Client(December 19, 2011)
BEIJING, Dec. 19, 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 has signed its first mobile cloud service contract, with Chacha Food Co. Ltd. ("Chacha Food"), a leading manufacturer and distributor of food products listed on the Shenzhen Stock Exchange (Stock Code: 002557).
Chacha Food, which provides roasted seeds, nuts and potato chips, signed the contract with eFuture following the successful completion of a pilot program to test eFuture's mobile cloud service offering, which consists of a mobile-based Sales Force Automation ("SFA") platform. eFuture is currently working with a number of consumer goods companies to pilot its SFA platform, which allows clients to increase revenue by speeding up and simplifying all aspects of the sales process.
Payment of a monthly fee to eFuture enables Chacha to provide its thousands of sales representatives in over 100 Chinese cities with access to real-time information on replenishment and promotions via Android or iPhone. eFuture's user-friendly solution allows Chacha's sales teams to intensify their focus on managing customer relationships, as well as providing tools to more effectively manage field sales representatives.
Adam Yan, eFuture's Chairman and Chief Executive Officer, said, "I am delighted that Chacha Food has chosen eFuture to help increase the productivity of its sales processes and enhance revenue generation. The monthly fee we charge for our mobile cloud service platform allows us to offer clients a cost-effective way to take advantage of cutting-edge technology without being required to make a significant upfront license fee payment, as well as generating recurring revenue for eFuture. However, while we view the recent launch of our mobile cloud service offering as an exciting development that could be a long-term revenue contributor, we expect newly developed products and product upgrades within our existing suite of products to be the main sources of growth in the short- and mid-term."
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, 2011 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. All information provided in this press release and in the attachments is as of December 19, 2011, and the Company undertakes no duty to update such information or any other forward-looking information, except as required under applicable law.
CONTACT: Investor Contact
Troe Wen, Company Secretary
eFuture Information Technology Inc.
+86 (10) 5293 7699
Investor Relations (US)
+1 (212) 889 4350
Investor Relations (Hong Kong)
+852 3196 3712
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