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BEIJING, Jan. 12, 2017 (GLOBE NEWSWIRE) -- eFuture Holding Inc. (“eFuture” or the “Company”) (EFUT), a leading software and solution provider and a mobile business enabler to China's retail and consumer goods industries, today announced completion of the merger contemplated by the previously announced agreement and plan of merger (the “Merger Agreement”), dated September 23, 2016 by and among Shiji (Hong Kong) Limited (“Parent”), eFuture CI Limited (“Merger Sub”) and the Company. As a result of the merger, the Company ceased to be a publicly traded company on the NASDAQ Capital Market (“NASDAQ”) and became a wholly-owned subsidiary of Parent.

Under the terms of the Merger Agreement, which was approved by the Company’s shareholders at an extraordinary general meeting held on December 20, 2016, each outstanding ordinary share of the Company (“Share”) has been cancelled in exchange for the right to receive US$6.42 per Share in cash, without interest, except for the Shares: (a) beneficially owned (as determined pursuant to Rule 13d-3 under the Exchange Act) by Parent, Merger Sub or their Affiliates (as defined in the Merger Agreement), (b) held by the Company or any of its subsidiaries, and (c) owned by shareholders who have validly exercised and have not effectively withdrawn or lost their appraisal rights under Section 238 of the Cayman Islands Companies Law.

Registered shareholders entitled to the merger consideration will receive a letter of transmittal and instructions on how to surrender their share certificates in exchange for the merger consideration and should wait to receive the letter of transmittal before surrendering their share certificates.

The Company also announced today that it requested that trading of its Shares on NASDAQ be suspended beginning at the close of business on January 11, 2017, U.S. Eastern Time. The Company requested that NASDAQ file a Form 25 with the U.S. Securities and Exchange Commission (the “SEC”) notifying the SEC of the delisting of the Company’s Shares on the NASDAQ and the deregistration of the Company’s registered securities. The deregistration will become effective 90 days after the filing of Form 25 or such shorter period as may be determined by the SEC. The Company intends to suspend its reporting obligations under the Securities Exchange Act of 1934, as amended, by filing a Form 15 with the SEC. The Company’s obligation to furnish to or file with the SEC certain reports and forms, including Form 20-F and Form 6-K, will be suspended immediately as of the filing date of the Form 15 and will cease once the deregistration becomes effective.

BEIJING, Dec. 20, 2016 (GLOBE NEWSWIRE) -- eFuture Holding Inc. (“eFuture” or the “Company”) (EFUT), a leading software and solution provider and a mobile business enabler to China's retail and consumer goods industries, today announced that the Company’s shareholders voted in favor of, among others, the proposal to authorize and approve (i) the previously announced agreement and plan of merger (the “Merger Agreement”) dated September 23, 2016 by and among Shiji (Hong Kong) Limited (“Parent”), eFuture CI Limited (“Merger Sub”) and the Company, pursuant to which Merger Sub will be merged with and into the Company with the Company continuing as the surviving company and a wholly-owned subsidiary of Parent after the merger (the “Merger”), (ii) the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands, substantially in the form attached to the Merger Agreement (the “Plan of Merger”), and (iii) the transactions contemplated by the Merger Agreement, including the Merger.

Of the Company’s ordinary shares entitled to vote at the extraordinary general meeting (the “EGM”), approximately 66.44% of such shares were voted in person or by proxy at today’s meeting, representing more than a quorum. The proposal to approve the Merger Agreement, the Plan of Merger and the Merger and the transactions contemplated thereby, including the Merger, received approval from approximately 95.74% of the ordinary shares present and voting in person or by proxy at the EGM. The other two proposals, which are (1) the proposal to approve the authorization of the Special Committee of the Company to do all things necessary to give effect to the Merger Agreement, the Plan of Merger and the transactions contemplated by the Merger Agreement, including the Merger, the variation of the authorized share capital of the Company and the adoption of the amended and restated memorandum and articles of association of the Company, received approval from approximately 95.74% of the ordinary shares present and voting in person or by proxy at the EGM, and (2) the proposal to approve the EGM being adjourned in order to allow the Company to solicit additional proxies in the event that there are insufficient proxies received at the time of the EGM to pass the special resolutions, also received approval from approximately 95.74% of the ordinary shares present and voting in person or by proxy at the EGM.

Accordingly, all three proposals were duly and validly authorized and approved by the shareholders of the Company (the first two proposals as special resolutions, which require the affirmative vote of a two-thirds majority of the voting power represented by the ordinary shares of the Company present and voting in person or by proxy at the EGM, and the third proposal as an ordinary resolution, which requires the affirmative vote of a simple majority of the voting power represented by the ordinary shares of the Company present and voting in person or by proxy at the EGM), in compliance with the Companies Law of the Cayman Islands.

The parties currently expect to complete the merger as soon as practicable, subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement. Upon completion of the Merger, the Company will become a privately held company and its ordinary shares will no longer be listed on the NASDAQ Capital Market.

Third Quarter 2016 Financial Results

• Third quarter total revenue decreased 9% year-over-year to RMB33.0 million (US$4.9 million).
• Adjusted diluted loss per share was RMB0.75 (US$0.11), compared to adjusted diluted loss per share of RMB0.15 in the third quarter 2015.

Mr. David Ren, CEO, commented, "By leveraging our leading position in China’s retail software solution and services industries, we focus on optimizing our software business, and enhancing our partnerships with leading global software vendors. Thanks to the support of our loyal clients, we are confident in delivering best practices to China’s retail industry through our omni-channel payment and cloud service businesses."

“Despite the reduction of new physical stores opening in China, we have acquired consistently increasing revenue steams through our innovative omni-channel solutions. As recurring maintenance service fee revenue continued to increase, we optimized our business mode in a healthy and sustainable manner in 2016,” Ms. Ping Yu, CFO, added.

FOURTH QUARTER 2016 GUIDANCE

eFuture expects total revenue for the fourth quarter 2016 to be in the range of RMB93 million (US$13.9 million) to RMB100 million (US$15.0 million). Adjusted EBITDA for the fourth quarter 2016 is expected to be in the range of RMB15 million (US$2.2 million) to RMB19 million (US$2.8 million).

BEIJING, Sept. 23, 2016 (GLOBE NEWSWIRE) -- eFuture Holding Inc. (EFUT) (the “Company” or “eFuture”), a leading software and solution provider and a mobile business enabler to China's retail and consumer goods industries, today announced it has entered into an agreement and plan of merger (the "Merger Agreement") with Shiji (Hong Kong) Limited ("Parent") and eFuture CI Limited ("Merger Subsidiary"), a wholly-owned subsidiary of Parent.  Parent and Merger Subsidiary are indirect, wholly-owned subsidiaries of Beijing Shiji Information Technology Co Ltd. ("Shiji"), a joint-stock company listed on the Shenzhen Stock Exchange of the PRC.

Pursuant to the Merger Agreement, Parent will acquire all the outstanding ordinary shares of the Company not currently owned by Parent and its affiliates for cash consideration equal to US$6.42 per share of the Company (each, a "Share"). This price represents an approximately 18% premium over the closing Share price as quoted by NASDAQ Capital Market ("NASDAQ") on June 3, 2016, the last trading day immediately prior to the Company's announcement on June 6, 2016 that it had received a preliminary non-binding proposal from Parent.

Subject to the terms and conditions set forth in the Merger Agreement, Merger Subsidiary will merge with and into the Company, with the Company continuing as the surviving company (the "Surviving Company") and becoming a wholly-owned subsidiary of Parent (the "Merger").  Each Share which is issued and outstanding immediately prior to the effective time of the Merger (the “Effective Time”) will be cancelled in consideration for the right to receive US$6.42 per Share, in cash, without interest, except for (i) Shares held by the Company or any of its subsidiaries (if any) and Shares beneficially owned by Parent, Merger Subsidiary or their affiliates, which Shares will be cancelled at the Effective Time for no consideration, or (ii) Shares owned by holders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the Merger pursuant to Section 238 of the Companies Law of the Cayman Islands, which such Shares will be cancelled at the Effective Time for the right to receive the fair value of such Shares determined in accordance with the provisions of Section 238 of the Companies Law of the Cayman Islands.  The transactions contemplated by the Merger Agreement, including the Merger, will be financed by the equity capital of Parent and its affiliates.

Second Quarter 2016 Financial Results

• Total revenue decreased 15% year-over-year to RMB27.8million (US$4.2 million).
• Basic loss per share in the second quarter 2016 was RMB1.06 (US$0.16), compared to basic loss per share of RMB1.25 in the second quarter 2015.  Diluted loss per share in the second quarter 2016 was RMB1.03 (US$0.15), compared to diluted loss per share of RMB1.22 in the second quarter 2015. Adjusted diluted loss per share was RMB0.39 (US$0.06), compared to adjusted diluted loss per share of RMB0.76 in the second quarter 2015.

Mr. David Ren, CEO, commented, " As a leading software solutions and services provider for China’s retail industry, we focus on optimizing our software business, and increasing cooperation with the leading global software vendors. In addition, we expect to continue to promote the omni-channel payment and cloud service business to deliver a strong value proposition to our existing and potential clients in China’s retail industry."

“Although revenue from the software sales decreased year-over-year, total service fee revenue remained solid at 61% of total revenue in the second quarter 2016, which consistently helps to predict our revenue,” Ms. Ping Yu, CFO, added.

THIRD QUARTER 2016 GUIDANCE

eFuture expects total revenue for the third quarter 2016 to be in the range of RMB31 million (US$4.7 million) to RMB37 million (US$5.6 million). Adjusted EBITDA for the third quarter 2016 is expected to be in the range of negative RMB4 million (US$0.6 million) to RMB0 million (US$0 million).

BEIJING, July 14, 2016 (GLOBE NEWSWIRE) -- As previously announced, on June 14, 2016, the board of directors of eFuture Holding Inc. (EFUT) (the “Company” or “eFuture”), a leading software and solution provider and a mobile business enabler to China's retail and consumer goods industries, formed  a special committee (the "Special Committee") to consider and evaluate the non-binding proposal, dated June 6, 2016, from its controlling shareholder, Shiji (Hong Kong) Limited (“Shiji”), to acquire all of the outstanding ordinary shares of the Company not currently owned by Shiji and its affiliates (the "Proposed Transaction") , or any potential alternative transactions.

The Company announced today that the Special Committee has retained Gibson, Dunn & Crutcher LLP to act as its independent legal counsel and Duff & Phelps, LLC to act as its independent financial advisor in connection with the Special Committee's evaluation of the Proposed Transaction. There can be no assurance that any definitive offer will be made by Shiji, that any agreement will be executed with Shiji or that the Proposed Transaction or any potential alternative transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to the Proposed Transaction or any other transaction, except as required under applicable law.

BEIJING, June 14, 2016 (GLOBE NEWSWIRE) -- eFuture Holding Inc. (Nasdaq:EFUT) (the “Company” or “eFuture”), a leading software and solution provider and a mobile business enabler to China's retail and consumer goods industries, today announced that its board of directors has established a special committee (the "Special Committee") to consider the non-binding proposal letter, dated June 6, 2016, from its controlling shareholder, Shiji (Hong Kong) Limited (“Shiji”), to acquire all of the outstanding ordinary shares of the Company not currently owned by Shiji and its affiliates (the "Proposed Transaction") , or any potential alternative transactions.

The Special Committee is composed of the following independent directors of the Company: Yuanzhu Lu, Roger Zhang and Weihua Zhou. Yuanzhu Lu will be the chairperson of the Special Committee. The Special Committee will retain its legal counsel and an independent financial advisor to assist its evaluation of the Proposed Transaction and any potential alternative transactions. The board of directors cautions the Company's shareholders that no decisions have been made by the Special Committee with respect to the Company's response to the proposal and there can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.

BEIJING, June 06, 2016 (GLOBE NEWSWIRE) -- eFuture Holding Inc. (Nasdaq:EFUT) (the “Company” or “eFuture”), a leading software and solution provider and a mobile business enabler to China's retail and consumer goods industries, today announced receipt of an unsolicited preliminary non-binding proposal to acquire all the remaining outstanding ordinary shares of the Company from its controlling shareholder, Shiji (Hong Kong) Limited (“Shiji”), which presently owns 2,744,857 shares of eFuture, represented 52.37% of the outstanding ordinary shares of eFuture as of June 5, 2016, for $6.32 in cash per share. Earlier this year, Shiji nominated and appointed six members of the Board of Directors (the “Board”) of the Company, who are presently serving on the Board of a total eleven members.

Shiji’s non-binding offer is subject to various conditions, including due diligence, financing, and the parties entering into satisfactory definitive agreements.

Consistent with its fiduciary duties, the Board in consultation with its legal and financial advisors, will carefully review the Shiji proposal to determine the course of action that it believes is in the best interests of eFuture shareholders.

First Quarter 2016 Financial Results

• Total revenue decreased 16% year-over-year to RMB19.8 million (US$3.1 million).
• Diluted loss per share in the first quarter 2016 was RMB2.10 (US$0.34), compared to diluted loss per share of RMB1.25 in the first quarter 2015.  Adjusted diluted loss per share was RMB1.08 (US$0.17), compared to RMB0.87 in the first quarter 2015.

Mr. David Ren, CEO, said, “As the overall economic situation in China is experiencing uncertainty, IT investment by retailers is conservative. Although revenue and gross margin decreased year-over-year, our innovative omni-channel solution business continued to increase in the first quarter of 2016. As a leading software solutions and services provider for China’s retail industry, we plan to continue to optimize our software business, and gradually increase cooperation with the world-famous software vendors. In addition, we will continue to promote the omni-channel payment and cloud service business to provide the best solutions and services to our existing and potential clients in China’s retail industry.”

“The first quarter has historically been our weakest quarter because of the impact of the Chinese New Year. While this quarter's software license revenue was greatly impacted by the micro retail environment in China, the growth of service fee revenue remained solid and continued to be a fundamental strength of our core business,” commented Ms. Ping Yu, CFO.

SECOND QUARTER 2016 GUIDANCE

eFuture expects total revenue for the second quarter 2016 to be in the range of RMB26 million (US$4 million) to RMB31 million (US$4.8 million). Adjusted EBITDA for the second quarter 2016 is expected to be in the range of negative RMB5 million (US$0.8 million) to negative RMB1 million (US$0.2 million).

Fourth Quarter 2015 Financial Results

• Total revenue decreased 2% year-over-year to RMB129.0 million (US$19.9 million).
• Diluted earnings per share decreased 60% year-over-year to RMB0.69 (US$0.11), as compared to diluted earnings per share of RMB1.71 in 2014.

"In 2015, we focused on the company's management structure realignment to better serve our core business--software and services. We also selected, reviewed and adjusted our innovative businesses for incubation. We fine-tuned the company's business strategy rationally--build an open and cooperative software and cloud service platform that forms the omni-channel sales loop by connecting retailers, merchandises and consumers and provides an O2O ("Online together with Offline") matchmaker service to help internet platforms cooperate with physical retailers in different real-world scenarios." Mr. David Ren, Chief Executive Officer of eFuture, commented.

“As Shiji (Hong Kong) Limited acquired more than 50% of our ordinary shares in November 2015 and is a wholly owned subsidiary of Beijing Shiji Information Technology Co. Ltd. (Shenzhen Stock Exchange:002153), the Company plans to work closely with Shiji in developing a strategy relating to our omni-channel platform which provides Chinese retailers and consumers with big data value-added services, that benefits both companies. ” Mr. Ren added.

“We are pleased that we have successfully delivered on our promise to maintain sustained profitable results for the fiscal year 2015. The rapid increase of service revenue mix demonstrates the potential for becoming the fundamental strength of our core business. Our omni-channel solution business continues to gain momentum through the support of those innovative retailers who seek to provide their customers with a seamless shopping experience.  We will focus on R&D investment and product optimization, as well as labor efficiency improvement.” Ms. Ping Yu, Chief Financial Officer of eFuture, said.

FIRST QUARTER 2016 GUIDANCE

eFuture expects total revenue for the first quarter 2016 to range between RMB19 million (US$2.9 million) to RMB24million (US$3.7million), and adjusted EBITDA for the first quarter 2016 is expected to range between negative RMB9 million (US$1.4million) to negative RMB5 million (US$ 0.8 million).

TAX INSPECTION

The Beijing tax authority has not made a decision regarding the issue of underpayment of taxes as disclosed in the 2015 third quarter earnings release.

BEIJING, Jan. 29, 2016 (GLOBE NEWSWIRE) -- eFuture Holding Inc. (NASDAQ:EFUT) (eFuture or the Company), a leading software and solution provider and a mobile business enabler to China's rapidly growing retail and consumer goods industries today announced that it received a letter from the Listing Qualifications Department of The NASDAQ Stock Market, on January 27, 2016 (the �Letter�),  informing the Company of its non compliance of NASDAQ's audit committee composition requirement set forth in NASDAQ Listing Rules 5605(c)(2)(A), which requires that an audit committee have at least three members, each of whom is independent. The reason for the non compliance resulted from the incumbent director and member of the audit committee, Roy Zhou, was not re-elected to the Company�s board at its 2015 annual meeting held on December 31, 2015.  The Letter does not result in the immediate delisting of the Company's common stock, and the stock will continue to trade uninterrupted under its current trading symbol.

As stated in the Letter, pursuant to Listing Rules 5605(c)(4), the Company has a cure period in order to regain compliance, as follows:

• Until the earlier of the Company's next annual shareholders meeting or December 31, 2016; or
• If the next annual shareholders meeting is held before June 28, 2016, then the Company evidence compliance no later than June 28, 2016.

The Company must submit to NASDAQ documentation, including biographies of any new directors, evidencing compliance with the rules no later than this date. In the event the Company does not regain compliance by this date, the Company could be delisted.

The Company plans to regain compliance and meet the independent director Audit Committee requirement by holding an extraordinary general meeting of shareholders in the first quarter which is presently being planned.  At this meeting it is anticipated that at least one independent director will be elected who will become a member of the Audit Committee, and the Company will regain compliance.

THIRD QUARTER 2015 FINANCIAL RESULTS

• Total revenue for the third quarter 2015 increased 6% to RMB36.1 million (US$5.7 million) from RMB34.0 million in the third quarter 2014.
• Basic and diluted loss per share in the third quarter 2015 was RMB0.81 (US$0.13), compared to basic and diluted loss per share of RMB0.43 in the third quarter 2014. Adjusted diluted loss per share was RMB0.15 (US$0.02), compared to adjusted diluted loss per share of RMB0.13 in the third quarter 2014.

"In the first half of 2015, we focused on the company's management structure realignment to better serve our core business--software and services. We also adjusted and more clearly identified the direction of innovative businesses and selected a few early-stage projects for incubation. In the third quarter of 2015, we fine-tuned the company's business strategy--build an open and cooperative software and cloud service platform that forms the omni-channel sales loop by connecting retailers, merchandises and consumers and provides an O2O ("Online together with Offline") matchmaker service to help internet platforms cooperate with physical retailers in different real-world scenarios." Mr. David Ren, Chief Executive Officer of eFuture, commented.

Ms. Ping Yu, Chief Financial Officer, further commented, "Due to the continued reduction of physical retail business under the current macro economy condition, our contract value and associated backlog decreased in the third quarter of 2015. However, new business opportunities in the O2O area should benefit both physical retailers and internet players and help to create greater demand for eFuture's services. We believe that we have the strongest physical retail client base especially among top 100 chain retailers. Looking ahead, we will continue to enhance our core software business and invest in high-potential innovative synergistic businesses. We remain confident in our repositioned strategy and our ability to acquire new revenue streams for our omni-channel cloud service platform over the long term."

FOURTH QUARTER 2015 GUIDANCE

eFuture expects total revenue for the fourth quarter 2015 to be in the range of RMB82 million (US$12.9 million) to RMB88 million (US$13.8 million). Adjusted EBITDA for the fourth quarter 2015 is expected to be in the range of RMB9 million (US$1.4 million) to RMB13 million (US$2.0 million).

• Total revenue increased 6% year-over-year to RMB32.8million (US$5.3 million).
• Adjusted diluted loss per share was RMB0.76 (US$0.12), compared to adjusted diluted loss per share of RMB 0.74 in the second quarter 2014.

Mr. David Ren, CEO, commented, "In the first half of this year, the Company reevaluated the direction of the organization, culture and the team's capabilities by analyzing its development history and experiences for success. As a result of this comprehensive analysis, the Company streamlined its business and product system, and adjusted its business strategy. We also cut businesses with no profit model to focus on pragmatic business opportunities. The Company will strengthen the software business transformation and vigorously expand its service-oriented business model to provide better solutions and services for the Chinese retail and distribution industry in the years to come."

"Driven by robust growth of the high margin software license business, the gross margin increased 2%, from 34% to 36% year over year. To help our clients prepare for a more mobilized future, we continue to invest in the omni-channel solution and retail mobile applications," Ms. Ping Yu, CFO, added.

THIRD QUARTER 2015 GUIDANCE

eFuture expects total revenue for the third quarter 2015 to be in the range of RMB36 million (US$5.8 million) to RMB41 million (US$6.6 million). Adjusted EBITDA for the third quarter 2015 is expected to be in the range of negative RMB2 million (US$0.3 million) to RMB1 million (US$0.2 million).

First Quarter 2015 Financial Results

• Total revenue increased 3% year-over-year to RMB23.6 million (US$3.8 million).
• Adjusted diluted loss per share was RMB0.87 (US$0.14), compared to RMB0.94 in the first quarter 2014.

Mr. David Ren, CEO, said, "After joining eFuture and conducting many orientation meetings in the first quarter, I am confident to work with our talented employee teams to promote growth and innovation. eFuture remains committed to the seamless execution of our consistent transition strategy from a pure software provider to a software and mobile internet business enabler driven by innovative solutions and mobile applications, such as the omni-channel solution and myStore. We look forward to leveraging the extraordinary power of our significant retailer base in launching new innovative programs in 2015 and beyond."

Ms. Ping Yu, CFO, commented, "The first quarter represents our lowest business season of the whole year. Despite the negative seasonal impact, our backlog increased 23%. New contracts from grocery and e-commerce are continuing to be the major growth driver for the Company. While implementing effective expense control measures, we increased our R&D investment on the omni-channel cloud service offering to maintain our position as an innovation leader in the retail industry."

SECOND QUARTER 2015 GUIDANCE

eFuture expects total revenue for the second quarter 2015 to be in the range of RMB29 million (US$4.7 million) to RMB33 million (US$5.3 million). Adjusted EBITDA for the second quarter 2015 is expected to be in the range of negative RMB7 million (US$1.1 million) to negative RMB4 million (US$0.6 million).

BEIJING, April 20, 2015 (GLOBE NEWSWIRE) -- eFuture Information Technology Inc. (Nasdaq:EFUT) (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 that it has completed a private placement sale of 798,000 ordinary shares to Mr. Adam Yan, Chairman, Mr. David Ren, Chief Executive Officer, Ms. Ping Yu, Chief Finance Officer and other individuals for US$3.2 million (or $ 4.0345 per share) in cash on April 13, 2015. The transaction was completed pursuant to share purchase agreement and subscription agreements.

The price of US$4.0345 per share represents the average closing price of eFuture's ordinary shares for the 20 consecutive trading days ending on, and including, April 8, 2015, the day the agreements were entered into. The transaction was authorized and approved by a special independent committee consisting solely of eFuture independent directors based upon the current fair market value of the Company's shares, and supported by an independent financial valuation.

The net proceeds from the sale will be used for general business operation. The shares are "restricted" with 180-day lock-up periods and the Company has no present intention to register such shares for resale.

Adam Yan said, "The transaction will provide capital to pursue eFuture's growth, and reflects our continued commitment in eFuture's long-term prospects."

David Ren added, "This investment shows our executive management team's strong desire for the entrepreneurship. As a new member of both eFuture's executive management team and shareholders, I will continue to seek to maximize the Company's value."

BEIJING, April 20, 2015 (GLOBE NEWSWIRE) -- eFuture Information Technology Inc. (Nasdaq:EFUT) (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 that it has completed a private placement sale of 798,000 ordinary shares to Mr. Adam Yan, Chairman, Mr. David Ren, Chief Executive Officer, Ms. Ping Yu, Chief Finance Officer and other individuals for US$3.2 million (or $ 4.0345 per share) in cash on April 13, 2015. The transaction was completed pursuant to share purchase agreement and subscription agreements.

The price of US$4.0345 per share represents the average closing price of eFuture's ordinary shares for the 20 consecutive trading days ending on, and including, April 8, 2015, the day the agreements were entered into. The transaction was authorized and approved by a special independent committee consisting solely of eFuture independent directors based upon the current fair market value of the Company's shares, and supported by an independent financial valuation.

The net proceeds from the sale will be used for general business operation. The shares are "restricted" with 180-day lock-up periods and the Company has no present intention to register such shares for resale.

Adam Yan said, "The transaction will provide capital to pursue eFuture's growth, and reflects our continued commitment in eFuture's long-term prospects."

David Ren added, "This investment shows our executive management team's strong desire for the entrepreneurship. As a new member of both eFuture's executive management team and shareholders, I will continue to seek to maximize the Company's value."

FOURTH QUARTER 2014 FINANCIAL RESULTS

• Total revenue for the fourth quarter 2014 increased 44% to RMB129.5 million (US$20.9 million) from RMB89.9 million in the fourth quarter 2013.
• Adjusted diluted earnings per share increased to RMB4.04 (US$0.65), as compared to adjusted diluted loss per share of RMB0.55 in 2013.

Mr. Adam Yan, Chairman and Chief Executive Officer of eFuture, commented on the results. "The year 2014 was a remarkable year for eFuture. The software business returned to growth, while myStore also experienced a large-scale public testing, whereby the registered users approximated 2 million as of the end of February 2015.

"As a solid foundation and resource pool for myStore development, we obtained steady growth in logistics, grocery and e-commerce industry in 2014. We will continue to increase our investment in the software business, and expect to expand market share in the top 100 chain retailers and in the tier three and four cities. In 2014, myStore-driven omni-channel (including online, offline, mobile and social media channels) solutions began to enter the market, and are receiving positive feedback.

"The goal of myStore is to connect the customers, the physical stores and its staff. With a cell phone the customers can buy anything and interact with the staff of the physical stores anytime, anywhere. They can go to the store and pick up the goods they've just ordered via mobile devices or just wait for delivery at home. The fast mobile payment channel in the physical stores could also help them to save time while making payment. To achieve this goal, we will continue to expand investment on myStore, connecting more local retail stores to enhance the user experience."

"We have been engaged in a strategic transformation towards mobile internet since 2012. I'm pleased to announce that we are successfully executing our strategy and delivering on our commitments to increase earnings and the value of the Company by exceeding guidance in the fourth quarter of 2014," Ms. Ping Yu, Chief Financial Officer, commented, "We worked to optimize our revenue mix and decreased the proportion of low-margin hardware business in 2014. As a result, gross margin increased from 40% to 44%. Going forward, it is our goal to drive sustained profitable growth to maximize long-term shareholder value. The Board and management team are focused on the execution of our strategy and strategic initiatives to elevate human efficacy and effectively manage general and administrative expenses over the long term."

FIRST QUARTER 2015 GUIDANCE

eFuture expects total revenue for the first quarter 2015 to range between RMB21 million (US$3.4 million) to RMB26 million (US$4.2 million), and adjusted EBITDA for the first quarter 2015 is expected to range between negative RMB7.5 million (US$1.2 million) to negative RMB4 million (US$0.6 million).

BEIJING, Dec. 1, 2014 (GLOBE NEWSWIRE) -- eFuture Information Technology Inc. (Nasdaq:EFUT) (the "Company" or "eFuture"), a leading provider of software and mobile social shopping network services in the China retail industry, and Retail Pro International ("RPI"), an international leader in specialty retail management software, today announced that they entered into a strategic partnership to provide comprehensive technical support and local services for the expansion of the global brand specialty stores in Greater China, which is expected to mutually benefit both companies.

RPI's global retail management software solutions are deployed to more than 52,000 retail stores in 87 countries, including famous international brands such as LVMH, Herm�s, Valentino, Christian Dior, Est�e Lauder, Calvin Klein, Reebok, Puma and Ecco.

"Our alliance with RPI will create new opportunities for strategic cooperation and marketing synergy, which will greatly assist eFuture in its transition from a pure software provider to a software and mobile internet business enabler driven by myStore. The integration of our complementary resources and core competencies will allow us to provide better solutions and local services to the rapidly expanding specialty stores market in Greater China," Mr. Adam Yan, the chairman and CEO of eFuture, commented.

"Nearly ten years ago, the expansion of our global brand customers into fast-growing markets brought Retail Pro^� to China. Today, with the continued growth of international brands, and the keen interest of the domestic retailers in world-class software solutions offered by RPI, we are ready to take it to the next level," stated Kerry Lemos, CEO of RPI. "Our partnership with eFuture will serve as a nexus for advancing rapidly evolving retail in China. Together, we will support the ambitious brands ready for next-generation retail management solutions."

"As a result of the increasing popularity of smartphones and tablets, brick-and-mortar retailers, especially brand specialty stores, are experiencing greater advantages than pure e-commerce competitors by providing consistent omni-channel consumer experiences across the stores, on-line, through social media and mobile devices. Since consumers focus on brands, as opposed to communication and sales channels, they enjoy examining products at a brick-and-mortar store, exchanging recommendations through social media with friends, and then buying products anytime, anywhere via mobile devices or on-line. These significant changes in consumer behavior provide a new market opportunity for the retailers and specialty brand companies, which is synergistic with myStore's mission - to better connect consumers and the retail stores, while helping retailers to complete the transition from single channel to omni channels," Adam added.

Third Quarter 2014 Financial Results

• Revenue decreased 16% year-over-year to RMB34.0 million (US$5.5 million).
• Basic and diluted loss per share in the third quarter 2014 was RMB0.43 (US$0.07), compared to basic and diluted loss per share of RMB0.38 in the third quarter 2013. Adjusted diluted loss per share was RMB0.13 (US$0.02), compared to adjusted diluted loss per share of RMB0.1 in the third quarter 2013.

"We will continue to execute our growth strategy and accelerate our transformation strategy to drive long-term shareholder value.

I am pleased to announce that myStore's user base exceeded 1.2 million as of October 31, 2014, during the ongoing public testing period which commenced on September 2013, which demonstrates that eFuture is making good progress in transforming to a software and mobile social shopping network services provider from a pure software company.

myStore provides fundamental technology infrastructure and marketing reach to help traditional retailers better utilize mobile internet, social media and big data to enhance customer engagement and improve customer experience. Through myStore consumers can easily shop anytime, anywhere and share their shopping experiences and recommendations among family members and friends.

Several pilot retail clients have started to deploy eFuture's omni-channel solutions, which provide a seamless approach to consumers through all available shopping channels across online, mobile, social and brick and mortar stores. myStore will continue to drive its omni-channel concept to become more widely accepted by the retail market. " Mr. Adam Yan, Chairman and Chief Executive Officer of eFuture, commented.

Ms. Ping Yu, Chief Financial Officer, further commented on the results: "As a result of key clients' strong demand for our myStore-driven omni-channel solutions, our contract value increased in the third quarter and nine months ended September 30, 2014 despite the contraction of our traditional physical stores business. However, as a result of adopting the completed-contract revenue recognition method of accounting, our revenue did not reflect progress on each of the projects, especially the larger contracts with longer delivery cycles. Nevertheless, our cost optimization structure and improvement of management efficiency have successfully decreased G&A and S&D expenses by 14%, and 8%, respectively, and increased gross margin to 45% in the third quater."

"Through our continuous effort to support the myStore-driven omni-channel strategy, we will further invest in R&D and mobile-internet team building to take advantage of the opportunity in the third retail revolution and position the Company in the forefront of the shift to mobile internet. I am proud to rejoin eFuture's management team to participate in this great transformation as we strive to maximize shareholder value over the long term." Ms. Yu added.

FOURTH QUARTER 2014 GUIDANCE

eFuture expects total revenue for the fourth quarter 2014 to be in the range of RMB76 million (US$12.4million) to RMB81 million (US$13.2 million). Adjusted EBITDA for the fourth quarter 2014 is expected to be in the range of RMB3 million (US$0.5 million) to RMB6 million (US$1.0 million).

BEIJING, Oct. 13, 2014 (GLOBE NEWSWIRE) -- eFuture Information Technology Inc. (Nasdaq:EFUT) (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.

BEIJING, Sept. 3, 2014 (GLOBE NEWSWIRE) -- eFuture Information Technology Inc. (EFUT) (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 at its annual conference, eFuture World 2014, that the number of registered myStore users has exceeded 1 million .

"1 million registered users is an important milestone for myStore, which increased its user base 100 times since we officially initiated public trial of myStore at eFuture World 2013, which was held exactly a year ago." Mr. Adam Yan, the Chairman and CEO, further commented, "I would like to say thanks to all of our clients and every consumer. You are the promoters of the third retail revolution."

eFuture World 2014 was held on Ramada Hotel in Xishuang Banna in Yunnan province from September 2 to 4, 2014. Mr. Pei Liang, the secretary general of China Chain Store & Franchise Association, was invited to be the honored guest and presented opening remarks. Over 200 key representatives of our clients and partners attended this meeting, including senior level personnel of China top retailers such as Suning, Alibaba, Yonghui Superstore, Wangfujing Group, Yansha, Tianhong Department Store, Womai.com, and sponsors from our strategic partners, including Vocollect, Datalogic, Cisco, and HP.

BEIJING, Sept. 2, 2014 (GLOBE NEWSWIRE) -- eFuture Information Technology Inc. (EFUT) (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 that C&U Group has selected eFuture's omni-channel solution and grocery solution portfolio to support the dynamic growth of its C&U supermarkets and Shizu convenience stores.

Since C&U's previous system from an US-based software vendor could not meet the growing need to engage customers across all channels (physical store, online, mobile and social media), they decided to adopt eFuture's agile omni-channel solution and switch to eFuture's grocery enterprise resource planning (ERP) total solution at the same time, which will be used to manage retail processes at all C&U supermarkets and convenience stores, from merchandise management and supply chain management to ambient and cold chain logistics management.

"We are glad to join hands with C&U, one of the top retailers in Zhejiang," said Adam Yan, "The rules of retail industry have changed. Today's consumers do not just listen and purchase, they demand the absolute control. No decision about me, without me. Offering a complete omni-channel platform, we are confident to provide C&U a single view of consumers, products and orders by an unified interface, while presenting a seamless brand and shopping experience in front of its customers, whether in person or via devices, and without regard to channel or location."

Second Quarter 2014 Financial Results

• Total revenue decreased 31% year-over-year to RMB31.0 million (US$5.0 million).
• Basic and diluted loss per share in the second quarter 2014 was RMB1.06 (US$0.17), compared to basic and diluted loss per share of RMB1.16 in the second quarter 2013. Adjusted diluted loss per share was RMB0.74 (US$0.12), compared to adjusted diluted loss per share of RMB0.84 in the second quarter 2013.

Chairman's Message

Mr. Adam Yan, Chairman and Chief Executive Officer of eFuture, commented, "Driven by myStore, a mobile shopping social network connecting physical stores with social local mobile and personalized (SoLoMoMe) consumers, our 2014 strategy is to create a true omni-channel model to help retailers in accelerating the inevitable transition to mobile internet.

"As the traditional department stores and groceries face great pressures from the explosive increase in e-commerce, many chose to delay opening new stores or even reduce the current number of stores. This had an immediate negative impact on our traditional software license revenue. However, we also were able to identify many new opportunities in the e-commerce and logistics industries. New wins in e-commerce and logistics industries were relatively larger and more complicated with longer implementation cycles. Therefore, revenue will be recognized more slowly than has historically been the case. As a result backlog increased 34.8% year-over-year, valued at RMB178 million (US$29 million) as of June 30, 2014.

"At July 31, 2014, myStore had approximately 800,000 registered users, compared with 630,000 registered users at April 30, 2014. Our chain retailer customers currently are in trial period and only using myStore services in a limited number of their stores. The user base is expected to increase once those retailers successfully complete the trial period and include all their stores in myStore in the second half-year.

"It is now becoming clear that online shopping is not the physical retail's predator, but only a branch of its omni-channels, as is mobile shopping and social shopping. Traditional physical retailers and pure online retailers are accelerating their transition from a single channel to omni-channels to better serve their SoLoMoMe customers. We have initiated a pilot omni-channel project with one of our top chain retailers in the second quarter. After the trial period, they expect to do a roll out to all stores across China."

THIRD QUARTER 2014 GUIDANCE

eFuture expects total revenue for the third quarter 2014 to be in the range of RMB32 million (US$5.2 million) to RMB37 million (US$6.0 million). Adjusted EBITDA for the third quarter 2014 is expected to be in the range of negative RMB4 million (US$0.6 million) to negative RMB1 million (US$0.2 million).

• Total revenue increased 2% year-over-year to RMB22.9 million (US$3.7 million).
• Net Loss Per Share Basic and Diluted was RMB (1.21) vs. last years same quarter of RMB(1.42).

Chairman's Message

Mr. Adam Yan, Chairman and Chief Executive Officer of eFuture, commented, "The global retail industry is undergoing a significant transformation. The most notable driver for these changes is undoubtedly the migration of offline retail sales to online channels. According to 2014 China Online Shopping Report released by iResearch, the growth rate of China's mobile shopping gross market value (GMV) in 2013 was 168.6%, which is much higher than the 39.4% GMV growth rate of the whole online shopping market. 

"Our plan for 2014 is to harness myStore (a mobile shopping social network connecting consumers) to forge a new path for the future. Our new strategy will blend multiple forces to create a true omni-channel model that redefines the consumer experience, and will hope to play an important role in accelerating the inevitable transition to mobile internet. Driven by myStore, our traditional software business will still serve as the foundation for the whole strategic transition, which follows the trend of transferring from single-channel management to omni-channel management.

"As we face a continued increased omni-channel solutions demand from offline retailers, we have accelerated our investment in R&D, focused on providing standardized and easily-deployable omni-channel solutions. We believe the myStore-driven Omni-channel solutions represent a leading unified marketing and retail management total solution connecting traditional offline store, online e-commerce, social media and mobile internet application. We plan to officially release the total solution by the end of the second quarter, and enter into the trial period in the second half of 2014.

"2014 will be an important, rapidly expanding year for myStore. By the end of April, we had approximately 630,000 registered users, compared with 190,000 registered users at the end of 2013. This reflected the active market reception and the synergy created by eFuture's strong reputation in the retail industry developed over the last 17 years.

"To better demonstrate the strength of myStore and product samples of modern offline stores for existing and potential clients, we built myStore-driven omni-channel experience stores in our Beijing and Wuhan offices, which will allow consumers to place orders and made payments on myStore and pick up the goods they purchased at the experience stores, and share shopping experiences and interests with friends. Consumers can also select goods in stores and make payment through the myStore mobile application. We plan to open other experience stores in our major offices gradually.

"In the 9th China Retailers Convention and Exhibition from May 28 to 31, 2014 in Jiangsu Province, which is regarded as the most significant annual event for China's retail industry, we demonstrated our myStore-driven omni-channel experience store and attracted a great deal of attention. Local TV station and many media interviewed and reported myStore and provided special coverage. My new book "The Third Retail Revolution" and the myStore T-shirt were popular items. In my book signings on May 28, the guests actively and enthusiastically participated in the "Shake myStore, Free Signed Book Surprise" activity, which regarded as a vivid advertisement for myStore.

"Overall, our results have been very encouraging with a total backlog valued at RMB162.3 million (US$26.2 million) as of the end of March, representing an increase of 9% year over year."

SECOND QUARTER 2014 GUIDANCE

eFuture expects total revenue for the second quarter 2014 to be in the range of RMB28.5 million (US$4.6 million) to RMB33.5 million (US$ 5.4 million). Adjusted EBITDA for the second quarter 2014 is expected to be in the range of negative RMB6 million (US$1.0 million) to negative RMB3 million (US$0.5 million).

Management Discussion and Analysis

Total revenue. Total revenue is comprised of software sales, hardware sales and service fee revenue. Total revenue decreased slightly from RMB198.4 million in 2012 to RMB197.9 million (US$32.7 million) in 2013. Since the established work processes during the fourth quarter of 2011, we internally have optimized workflow efficiencies between regional delivery teams and company-level technical support teams. However, in 2013, the development of emerging online business had a significant impact on traditional retail industry. Our customers were on their ways to reformation to deal with the changes on business environment. It had a negative effect on our growth.

BEIJING, March 26, 2014 (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 an strategic agreement to provide a series of omni-channel solutions for Shanxi Meetall Chain Supermarket Co., Ltd., a subsidiary of Shanxi Meetall Group ("Meetall Group" or "the Group"), a leading Chinese grocery retailer and member of the global SPAR International group. The signing ceremony was held in Taiyuan, Shanxi, and was attended by Mr. Dequn Zhu and Ms. Aixiang Li, Chairman and President of Meetall Group, and Mr. Dehong Yang, President of eFuture, among others.

Alongside supermarkets, Meetall Group's portfolio also includes karaoke bars, cinemas and teahouses. The Group operates more than 80 supermarket stores that span many cities in Shanxi, Shandong, Hebei and Inner Mongolia, and connects to 60 million customers throughout China, making it one of the largest national retailers in the North China market.

Under the agreement, eFuture will provide a series of omni-channel solutions, powered by myStore, a unified solution including logistics management system designed to increase the performance of their supply chain, along with the construction of an e-commerce and mobile internet application service. The new solutions and services will be rolled out onto all of Meetall Group's future supermarket stores. Dehong Yang, President of eFuture, commented on the deal. "Our agreement with Meetall Group is a sign of things to come, in which we will push ahead with our endeavours to build a strong omni-channel mobile internet presence in the China market while we continue to create the very best consumer experience."

Fourth Quarter 2013 Financial Results

• Total revenue decreased 7% year-over-year to RMB91.2 million (US$15.1 million).
• Basic and diluted earnings per share were RMB1.50 (US$0.25), as compared to RMB0.74 in the fourth quarter 2012.
• Adjusted diluted earnings per share was RMB1.74 (US$0.29), as compared to adjusted diluted earnings per share of RMB1.20 in the fourth quarter 2012.

Mr. Adam Yan, Chairman and Chief Executive Officer of eFuture, commented on the results. "We are pleased with eFuture's 2013 performance which gave us a more diversified product portfolio, strengthened market leadership and stable revenue stream that allows us to continue the strategic imperative of investing in our future, transforming from a traditional software solutions provider to a shopping social network service, via myStore to transfer offline consumers to mobile consumers (O2M) for the retailers in China retail industry.

"Full year revenue increased modestly. We saw an overall segment growth in service fees, an increased number of clients from various industry segments and geographic locations, and an improved efficiency and profitability from within.

"2013 has been a critical, transformative year for eFuture as we capitalized on the enormous offline to mobile ("O2M") growth opportunities that have resulted from the consumer-led revolutionary change in China's retail industry. We witnessed a strong market response to the rollout of myStore and the results have far exceeded our expectations. As announced earlier this year, leading retailers such as Rainbow & Yonghui have contracted eFuture for our m-commerce and omni-channel solutions, while Yansha Youyi Shopping City, Chengde Kuan Guang Supermarket and others have joined myStore's open platform. Furthermore, the exceptional success of our exhibition that showcased our omni-channel myStore experience store at the 15th China Retail Industry Convention further underpins our success in securing the participation of over 20 retailers.

Mr Yan concluded, "myStore (a shopping social network service connecting consumers) has demonstrated its growing importance as a key business driver for eFuture through our in-house developed m-commerce and omni-channel solutions. In order to accelerate the Company's growth, we have made investments in R&D, sales and marketing personnel and branding initiatives which has affected our short term profitability but remains crucial to our long term prospects. I am excited about our 2014 outlook as we continue to lead the change in the retail industry by helping our clients provide a truly personalized shopping experience for each consumer through myStore."

FIRST QUARTER 2014 GUIDANCE

eFuture expects total revenue for the first quarter 2014 to be in the range of RMB22.5 million (US$3.7 million) to RMB26.5 million (US$4.4 million). Adjusted EBITDA for the first quarter 2014 is expected to be in the range of minus RMB3.2 million (US$0.5 million) to RMB5 million (US$0.8 million).

BEIJING, Jan. 17, 2014 (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 an agreement with Yonghui Superstores Co., Ltd. (Shanghai Stock Exchange: 601933, "Yonghui") to launch myStore, a social shopping network that connects consumers and their friends, retailers and consumers and engages the mass consumer communities at large.

Established in 2001 and listed on the Shanghai Stock Exchange in 2010, Yonghui was recognized as the 13th of the Top 100 Chain Retailers of China and the 7th of the Top 100 FMCG Enterprises of China in 2012, and was awarded the honorary title of National Advanced Employed Enterprise and National Labor Certificate by State Council of the country. The company is principally engaged in the operation of regular chain supermarkets and has developed into a large business group with services in modern logistics and agriculture, processed food, and industry development. Yonghui owns around 400 medium-to-large-sized stores in 17 provinces including Fujian, Zhejiang, Guangdong, Chongqing, Guizhou, Sichuan, Beijing, Shanghai, Tianjin, Hebei, Anhui, Jiangsu, Henan, Shanxi, Heilongjiang, Jilin, Liaoning, etc., with an area of over 3,000,000 square meter. Yonghui has been eFuture's client for more than 8 years, using eFuture's POS-ERP System for store operation, marketing and promotion system, as well as vendor supply chain system.

With the official launch of the Yonghui myStore yesterday, eFuture will provide to stores owned by Yonghui Superstores with integrated services such as mobile marketing, mobile shopping, and membership management to monitor and gather information on consumer behavior, such as purchasing patterns and reaction to marketing campaigns, through eFuture's renowned data analytics capabilities. eFuture will also develop the system interface with Yonghui's ERP system in its headquarter and stores.

Subscribers and followers to Yonghui myStore are now able to access the Yonghui stores, which will allow them to make orders and payments on myStore and pick up goods they purchased at stores, and share shopping experiences and interests with friends. The partnership of Yonghui and myStore will empower consumers and enable them to derive greater enjoyment and convenience from Yonghui myStore.

Mr. Adam Yan, Chairman and Chief Executive Officer of eFuture, said, "The Chinese consumer trend is now going SoLoMoMe, which means Social, Local, Mobile and Me signifying a shift to personal choice and personalization. myStore aims to revolutionize the retail experience for consumers and retailers by creating an unmatched social platform. The service enables shoppers to share shopping experiences, interests and recommendations, and empowers retailers to interact with their customers more proactively and effectively. With myStore, Yonghui can provide a truly personalized shopping experience, enhance its competitive position in this rapidly changing consumer landscape while greatly reducing the cost of services."

Third Quarter 2013 Financial Results

• Total revenue increased 8% year-over-year to RMB40.5 million (US$6.6 million).
• Basic and diluted loss per share was RMB0.38 (US$0.06), as compared to basic and diluted loss per share of RMB0.52 in the third quarter 2012.

Mr. Adam Yan, Chairman and Chief Executive Officer of eFuture, commented on the results. "eFuture's momentum continued through the third quarter, with a 30% growth in service fee income and a 20% increase in newly signed contracts, reaching RMB70.2 million (US$11 million). The continued strength of our operating results is a testament to our well-established key client strategy allowing us to cross-sell our rich portfolio of products and services to existing clients.

"While our key client strategy allows us to leverage our broad array of capabilities to drive greater business value from large clients, due to the complex and highly customized nature of the contracts it has caused a slight delay in the completion time of some services. Nevertheless, the Company has always focused on enhancing cost structure to improve efficiency, and this has mitigated the pressure from delays in revenue recognition. Over the year, G&A expenses have been decreasing from 21.3% to 16.9%, and selling and distribution expenses have also been declining from 30.6% to 27.2%.

"The healthy growth of our robust contract pipeline also enables us to devote more time to further growth initiatives such as omni-channel solutions and myStore, which is a shopping social platform that connects and engages global consumers. Reinforced by our solid backlog, which recorded a total of RMB148 million by the end of the third quarter 2013, we have full confidence in the health of our business and customer demand for our smart products and services. With a slowly improving economic environment, our flexible cost structure and increasing traction from our new business initiatives, we are well positioned to build on our strong performance through the rest of 2013 and into 2014."

FOURTH QUARTER 2013 GUIDANCE

eFuture expects total revenue for the fourth quarter 2013 to be in the range of RMB77 million (US$12.6 million) to RMB83 million (US$13.6 million). Adjusted EBITDA for the fourth quarter 2013 is expected to be in the range of RMB8 million (US$1.3 million) to RMB12 million (US$2.0 million).

BEIJING, Aug. 19, 2013 (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 an agreement with Rainbow Department Store Company Limited (002419, "Rainbow Department Store") to launch myStore, a one-on-one engagement platform designed to facilitate easy access between sales clerks and their customers. The platform also provides a social shopping network for consumers and their friends to connect to the consumer society at large.

Second Quarter 2013 Financial Results

• Total revenue increased 15% year-over-year to RMB45.1 million (US$7.3 million).
• Gross profit decreased 1% year-over-year to RMB13.8 million (US$2.3 million).
• Net loss was RMB4.9 million (US$0.8 million), compared to a net loss of RMB0.5 million in the second quarter 2012.
• Adjusted net loss was RMB3.6 million (US$0.6 million), compared to an adjusted net income of RMB4.3 million in the second quarter 2012.
• Basic and diluted loss per share was RMB1.16 (US$0.19), as compared to basic and diluted loss per share of RMB0.12 in the second quarter 2012.
• Adjusted diluted loss per share was RMB0.84 (US$0.14), as compared to adjusted diluted earnings per share of RMB1.02 ($0.16) in the second quarter 2012.

Mr. Adam Yan, Chairman and Chief Executive Officer of eFuture, commented on the results, "eFuture delivered another quarter of solid year-over-year revenue growth reaching 15% over last year, and both revenue and adjusted EBITDA fell well within our guidance range.

"We have accelerated the expansion of our client base for the Software and Services business and have seen tremendous growth in the segments. The slight decrease in this quarter was attributed to a delay in revenue recognition as a result of clients postponing their shop opening schedules. The deferred revenue amounted to RMB20.4 million, which could have contributed to a growth of 52% and 43% for our Software and Services business on a year-over-year basis. We expect this revenue to be gradually recognized in second half of the year."

"Looking into the next quarter and the remainder of the year, we see enormous opportunities for growth amongst our key clients as they continue to penetrate into tier three and four cities, and also with multi-nationals clients as they expanded their footprints in China."

Mr. Yan concluded, "The continued sequential increase that brings the backlog to RMB152.0 million demonstrates the success of our sales strategy in expanding our client base and service offerings in store IT operation management through smart technology such as cloud, data and business analytics. We have received great feedback for our new offline-to-online offering, Omni-Channel Solution, which helps enable clients to meet the emerging requirement of businesses to connect and operate over the internet. We expect these offerings to drive expansion in the second half of the year. We remain focused in the execution of our strategy and the enhancement of our cost structure to ensure we are well positioned to capitalize opportunities in China's consumer market."

THIRD QUARTER 2013 GUIDANCE

eFuture expects total revenue for the third quarter 2013 to be in the range of RMB40 million (US$6.5 million) to RMB45 million (US$7.3 million). Adjusted EBITDA for the third quarter 2013 is expected to be in the range of minus RMB3 million (US$0.5 million) to minus RMB1 million (US$0.2 million).

First Quarter 2013 Financial Results

• Total revenue decreased 3% year-over-year to RMB22.5 million (US$3.6 million).
• Gross profit decreased 3% year-over-year to RMB8.7 million (US$1.4 million).
• Net loss was RMB6.0 million (US$1.0 million), compared to a net loss of RMB4.9 million in the first quarter 2012.
• Adjusted net loss was RMB4.5 million (US$0.7 million), compared to an adjusted net loss of RMB1.4 million in the first quarter 2012.
• Basic and diluted loss per share was RMB1.42 (US$0.23), as compared to basic and diluted loss per share of RMB1.19 in the first quarter 2012.
• Adjusted diluted loss per share was RMB1.06 (US$0.17), as compared to adjusted diluted loss per share of RMB0.34 in the first quarter 2012.

Mr. Adam Yan, Chairman and Chief Executive Officer of eFuture, commented on the results. "As we entered into 2013, we continued to execute on our strategy of increasing wallet share and deepening business penetration. Overall, the results have been very encouraging with total backlog valued at RMB148.3 million (US$23.8 million) as of the end of March, representing an increase of 25% year over year. The total value of new contracts also increased by 25% year over year.

On our Software solutions, we continued the expansion of our client base among medium to large local and multinational corporate enterprises through the provision of IT software solutions and consulting services to enhance the efficiency of front end supply chains for our customers. Earlier in the quarter, we signed some leading nationwide and regional players such as aigo Entrepreneurs Alliance ("aigo") and New Hua Du Supercenter Co., Ltd ("New Hua Du"). aigo is a leading consumer electronics company in China, and New Hua Du is one of the largest supermarket operators with 123 stores in Fujian Province.

In addition, our tier 2 and 3 city expansion strategy continued to reap rewarding results with leading regional department store operators, and our progress with clients such as Guofang Group only help to further solidify our market position in these high growth regions. With growing demand for our full suite of solutions designed to optimize business efficiency, our pipeline is much stronger and healthier as compared to last year, and provides a solid foundation for growth in year 2013."

Mr. Sean Zheng, Chief Financial Officer, added, "The first quarter of 2013 fell well in line with our guidance and expectations. The year over year decline in revenue reflected the delay in revenue recognition for our backlog, as well as some Q1 revenue was partially recognized last quarter when some projects finished earlier than expected. At the beginning of the year, we also made investments in people and enhanced our employees' benefits to retain talent, which resulted in higher SG&A expenses over the quarter. We expect these investments to provide eFuture with significant long-term benefits and hence strengthen our foundation to achieve a sustainable long term business growth for shareholders."

SECOND QUARTER 2013 GUIDANCE

eFuture expects total revenue for the second quarter 2013 to be in the range of RMB43 million (US$6.9 million) to RMB48 million (US$7.7 million). Adjusted EBITDA for the second quarter 2013 is expected to be in the range of minus RMB4.0 million (US$0.6 million) to breakeve

BEIJING, May 16, 2013 (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 an agreement with SCA (China) Holding Co., Ltd ("SCA China") to provide its China operation with Data Link services, a cloud based distributor relationship management application.

Listed on the Stockholm Exchange (Ticker: SCA) with a total sales of �9.8 billion in 2012, SCA is the world's leading hygiene and forest products company, and owns many well-known brands such as TENA, Tork, Tempo and Lotus which sell in some 100 countries worldwide. Recently, SCA China also increased their investments in Vinda International, the largest household paper manufacturer, distributor and marketer in China. As its business continues to grow in the China market, SCA China has been expanding its sales and distribution channels. In order to ensure the efficient management of sales data and resource integration, SCA China decided to partner with eFuture.

eFuture will provide comprehensive Data Link service offerings for SCA China to streamline their distribution channels, allowing them to access real-time sales, inventory and replenishment information directly from their distributors. This will enable SCA China to form a dynamic link between the distributors and production teams.

BEIJING, May 14, 2013 (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 its Chief Financial Officer, Mr. Sean Zheng, informed the Company's Board of Directors of his decision to resign from his position with the Company for personal reasons, effective June 7, 2013. Mr. Zheng's resignation was not the result of any disagreement with the Company on any matter, including those relating to the Company's financial or accounting operations, policies or practices.

The Company will immediately begin the search process for a new CFO. Chairman and Chief Executive Officer of the Company, Mr. Adam Yan, will assume the position of interim CFO.

Mr. Adam Yan, Chairman and Chief Executive Officer of eFuture, said, "Sean joined eFuture over two years ago and has been an invaluable member of the Company's senior management team. He has made many significant contributions in the areas of accounting and finance, internal and regulatory control and investor relations. The Board of Directors and the entire staff of eFuture wish Sean the best in his future endeavors."

BEIJING, May 13, 2013 (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 an agreement with Guofang Group ("Guofang") to provide its customer relationship management ("CRM") services.

Established in 1996, Guofang is a major department store and supermarket retail operator in northwestern China. Its fifteen subsidiaries are spread across the region, and are located in provinces such as Gansu, Ningxia, Qinghai and Shaanxi. In order to enhance efficiency and meet higher industry standards for customer service, Guofang has selected eFuture to upgrade the CRM system for its department stores. This agreement marks the second business cooperation between the two companies. In 2006, eFuture provided Guofang with a POS-ERP system for its supermarkets.

Under the program, eFuture will assist Guofang in improving interactions with current and future customers through data mining and data analysis, identifying and seeking to retain the most profitable customers, and expanding the potential customer base in the process. System installation and data migration for the CRM program began in early April this year, and the first and second phases of analysis results are expected to come online on the second half of this year.

Commenting on the agreement, a member of the senior management team of Guofang said, "We believe that our cooperation with eFuture to establish one of the best CRM systems in Northwest China will elevate customer relationship management in Lanzhou City to another level, and this will extend our superior capabilities throughout the whole northwest region."

Mr. Adam Yan, Chairman and Chief Executive Officer of eFuture, said, "We are thrilled to be provided the opportunity to partner with Guofang again, and we would like to express our gratitude for its recognition of our services and expertise. Guofang's decision to collaborate with us a second time is a testament to the past seven years of eFuture's growth and transformation. As a result of the focus we have put into developing business in tier two and three cities, our efforts are being recognized in many ways. This win is a major step for eFuture to solidify its position in tier two and three cities as we continue to evaluate these new markets as we execute our expansion."

"In addition to eFuture's own development, we are also honored to take part and support the growth of these cities as they evolve. Enterprises are becoming more aware of their technological needs and are seeking our consultation and strategic input for their systems design, with the goal to improve their business efficiencies. We remain committed to remain innovative and offer solutions to our customers to keep them ahead of the curve and responding to the ever-changing needs of their businesses," Mr. Yan added.

First Quarter 2012 Results

• Total revenue increased 21% year-over-year to RMB23.3 million (US$3.7 million).
• Gross profit increased 97% year-over-year to RMB8.9 million (US$1.4 million).
• Adjusted EBITDA was minus RMB1.3 million (minus US$0.2 million), an improvement from an adjusted EBITDA of minus RMB5.7 million in the first quarter 2011.
• Operating loss was RMB5.3 million (US$0.8 million), an improvement from an operating loss of RMB10.9 million in the first quarter 2011.
• Net loss was RMB4.9 million (US$0.8 million), compared with a net loss of RMB2.9 million in the first quarter 2011.
• Adjusted net loss was RMB1.4 million (US$0.2 million), an improvement from adjusted net loss of RMB3.8 million in the first quarter 2011.
• Basic and diluted net loss per share was RMB1.19 (US$0.19), as compared to basic and diluted net loss per share of RMB0.70 in the first quarter 2011.
• Adjusted diluted net loss per share improved to RMB0.34 (US$0.05), as compared to adjusted diluted net loss per share of RMB0.92 in the first quarter 2011.

Mr. Adam Yan, Chairman and Chief Executive Officer ("CEO"), commented on the results. "In the first quarter of 2012, we successfully built on the groundwork we laid in 2011 to expand the reach of our existing servicing capabilities beyond software and hardware, and further benefited from the release of our cloud services offering as it begins to gain traction in the marketplace.

"Our successful efforts to secure new cloud service sales contracts with Chacha, Nestle Water, Binzhilang, Shandong Deyi and others, validate our long-term strategy to broaden our customer base and market reach. We have also seen an accelerating trend of interest from existing customers, which places us in a favorable position from which to leverage our strong product portfolio and service offerings.

"Our core business, software sales recorded a year-over-year revenue increase of 101%, primarily due to recognition of revenue from a prior backlog of software contracts concluded last year. We have identified increasing demand from tier two and three cities as a significant growth driver of this business, and although the market is very fragmented, market demand and interest for our products remain modestly strong.

Mr Yan concluded: "Lastly, eFuture recently celebrated its 15-year anniversary. Founded in 1997 as a boutique IT solution provider, eFuture is proud to have become a highly-regarded and award-winning software and services company in the retail and consumer goods market. I would like to take this opportunity to thank my colleagues, clients and partners for their dedication and extraordinary contributions to the company's success, and would also like to renew eFuture's commitment to focus on China's retail industry growth, remaining flexible and transformative in both our business model and our services paradigm in order to make a more meaningful contribution to the growth and success of our clients' businesses."

Mr. Sean Zheng, Chief Financial Officer ("CFO"), added: "Our improved financial performance is a reflection of the success of our solid execution in delivering a robust product mix, and demonstrates the scalability of our business model which comes from the delivery team restructuring in 2011, aimed at expanding team capacity and lowering operating costs.

"Our focus will continue to be on carefully managing our operating costs and maintaining an organization capable of supporting growth as we execute against our sales pipeline."

SECOND QUARTER 2012 GUIDANCE

eFuture expects total revenue for the second quarter 2012 to be in the range of approximately RMB24 million (US$3.8 million) to RMB28 million (US$4.4 million). Adjusted EBITDA for the second quarter 2012 is expected to be in the range of approximately loss RMB1million (US$0.2 million) to loss RMB3 million (US$0.5 million).

BEIJING, May 21, 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 an agreement with NESTLE WATER^® to provide their Sales Force Automation ("SFA") service, a mobile Cloud service, in Beijing and Shanghai.

SFA is a mobile-based platform that connects sales teams from consumer goods companies to information such as replenishment and promotions in real time from any location, via smartphone providers Android and iPhone, and also on tablets. SFA also provides mobile field tools for managers to identify and supervise team performance and productivity.

Adam Yan, eFuture's Chairman and Chief Executive Officer, said, "The official launch of our cloud service offering marks an important milestone in the development of our company. Not only does it provide for us a new stream of monthly recurring revenue, it also allows us to offer an expanded portfolio of solutions to our world-class retailer clients, as well as to other small to mid-sized retail and consumer goods companies. I firmly believe eFuture's Cloud Service is a meet-the-market solution that is expected to become a pioneering model as other retail and consumer goods companies look to build more efficient and effective sales automation systems."

Fourth Quarter 2011 Financial Highlights

• Total revenue increased 13% year-over-year to RMB83.3 million (US$13.2 million).
• Gross profit decreased 23% year-over-year to RMB27.0 million (US$4.3 million).
• Adjusted EBITDA was RMB8.9 million (US$1.4 million), compared to RMB10.6 million in fourth quarter 2010.
• Operating profit was RMB2.4 million (US$0.4 million), compared to RMB2.7 million in fourth quarter 2010.
• Net loss was RMB10.0 million (US$1.6 million), compared with net income of RMB0.1 million in fourth quarter 2010.
• Adjusted net income was RMB1.9 million (US$0.3 million), compared to RMB8.9 million in fourth quarter 2010.
• Basic and diluted net losses per share were RMB2.42 (US$0.39), as compared to basic and diluted net earnings per share of RMB0.03 in fourth quarter 2010.
• Adjusted diluted net earnings per share were RMB0.47 (US$0.07), as compared to RMB2.16 in fourth quarter 2010.

Mr. Adam Yan, eFuture's Chairman and Chief Executive Officer, said, "I'm pleased to report that revenues for our seasonally strongest fourth quarter exceeded guidance, rounding out a year of top-line growth. Although the decision by some of our larger clients to postpone new store openings impacted our higher-margin software revenue, we achieved further expansion of our more stable service fee income. During 2011, we successfully completed our delivery team restructuring, thereby equipping us to take on additional projects and more effectively manage costs.

"While we expect short- and mid-term revenue growth to be driven primarily by the development of new products within our more established business lines, we continue to develop other new products and services that have revenue-generation potential over the long term. Following the launch of our cloud service business last October, we were excited to announce the signing of our first mobile cloud service client in December. The signing of an additional client earlier this year now gives us a total user base of over 1,000 paying subscribers, and in our view, demonstrates the progress we are making in the initial stages of our foray into this new business line.

"During 2012, we plan to innovate further within the cloud services space to explore its long-term revenue-generation potential, while simultaneously solidifying our leading position within China's retail and consumer goods industry. Our overall focus remains on driving top-line growth, as well as investing to capture long-term opportunities within the growing mobile internet and social commerce markets."

Mr. Sean Zheng, Chief Financial Officer, added, "Despite industry-wide wage inflation and disruptions from our delivery team restructuring, we effectively moderated the effect on margins by achieving a 24% year-over-year decline in operating expenses during fourth quarter 2011. Moreover, we believe that the completion of our delivery team restructuring positions us to increase margins by achieving a more equal balance between our higher-margin software revenue and our more stable service fee income. In terms of revenue, the year-over-year rise in our contracts backlog to US$18 million at end-December 2011 from US$14 million the previous year appears positive for 2012. Looking ahead to the first quarter 2012, we believe that revenue during this seasonally slowest quarter will total between RMB23 million and RMB26 million, representing year-over-year growth of 20% to 35%."

BEIJING, Nov. 25, 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 the purchase of senior convertible notes with a total aggregate outstanding principal amount equal to US$1 million. The notes were issued by the Company on March 13, 2007 and were due on March 12, 2012.

eFuture purchased the notes for US$1 million from institutional investors. The sellers agreed to waive all outstanding interest payments. The purchase was made from eFuture's cash reserves, and is not expected to have a material impact on the Company's business operations or growth plans.

Second Quarter 2011 Financial Highlights

• Total revenue decreased 21% year-over-year to RMB26.7 million (US$4.1 million).
• Gross profit decreased 44% year-over-year to RMB8.4 million (US$1.3 million).
• Adjusted EBITDA was minus RMB2.6 million (minus US$0.4 million), compared to RMB3.4 million in the second quarter 2010.
• Operating loss was RMB7.1 million (US$1.1 million), compared to an operating loss of RMB2.0 million in the second quarter 2010.
• Net loss was RMB5.5 million (US$0.8 million), compared to a net loss of RMB1.7 million in the second quarter 2010.
• Adjusted net loss was RMB1.3 million (US$0.2 million), compared to adjusted net profit of RMB5.0 million in the second quarter 2010.
• Basic and diluted net loss per share was RMB1.33 (US$0.21), as compared to a basic and diluted net loss per share of RMB0.48 in the second quarter 2010.
• Adjusted diluted net loss per share was RMB0.32 (US$0.05), as compared to diluted net profit per share of RMB1.39 in the second quarter 2010.

Mr. Adam Yan, Chairman and Chief Executive Officer, said, "Revenue growth was in line with guidance as we returned to a steady and sustainable level of revenue generation following an exceptionally strong second quarter 2010. Our second quarter 2011 revenue partly reflects our increasing success at winning larger and longer software contracts. As our contracts have grown in size and scope, revenue recognition cycles have lengthened. Further, we generally see a progressive rise in demand throughout the year, as the first half of the year is typically slower than the second half. Our prime position in China's retail and consumer goods industry ecosystem enables us to benefit from key trends including the growth of fashion chain stores, online shopping and logistics. As we enter our seasonally stronger second half, we believe that our innovative and attractive software and services offerings and superior client service will continue to result in above-industry growth rates."

Mr. Sean Zheng, Chief Financial Officer, commented, "We remain focused on further enhancing our leading market share by expanding our customer base and deepening relationships with existing clients, and at the same time continue to execute on cost reduction initiatives in order to improve our bottom line. Margin expansion remains a key element of our strategy as we focus on maximizing the profitability of our higher-margin core software business at the same time as increasing professional service revenues. We expect our success in capitalizing on the continued growth in China's booming retail and consumer markets to result in third-quarter revenue in the range of RMB35 million to RMB45 million, representing year-over-year growth of 13% to 46%."

THIRD QUARTER 2011 GUIDANCE

eFuture expects

• Total revenue for the third quarter 2011 to be in the range of approximately RMB35 million (US$5.5 million) to RMB45 million (US$7.0 million).
• Adjusted EBITDA to be in the range of approximately breakeven to RMB5 million (US$0.8 million).

Quarterly Results:

• Total revenue increased 41% year-over-year to RMB19.2 million (US$2.9 million).
• Gross profit increased 499% year-over-year to RMB4.5 million (US$0.7 million).
• Net loss was RMB2.9 million (US$0.4 million), an improvement from a net loss of RMB10.9 million in the first quarter 2010.        
• Adjusted net loss was RMB3.8 million (US$0.6 million), compared with an adjusted net loss of RMB4.3 million in the first quarter 2010.
• Basic and diluted net loss per share improved to RMB0.70 (US$0.10), as compared to basic and diluted net loss per share of RMB3.14 in the first quarter 2010. 
• Adjusted diluted net loss per share improved to RMB0.92 (US$0.14), as compared to diluted net loss per share of RMB1.23 in the first quarter 2010. 

Mr. Adam Yan, Chairman and Chief Executive Officer, said, "I'm pleased to report an especially strong first quarter, with our enhanced product mix and optimized matrix sales network enabling us to surpass our guidance across the board. Our US$14 million contracts backlog at the end of 2010 and sustained robust growth from our fast moving consumer goods ("FMCG") and Grocery verticals resulted in a 41% year-over-year rise in revenue during the first quarter, which is our seasonally slowest quarter. Our sustained efforts to increase service revenue led to an 80% rise compared with the first quarter 2010."

eFuture expects total revenue for the second quarter 2011 to be in the range of approximately RMB20 million (US$3.1 million) to RMB30 million (US$3.7 million). Adjusted EBITDA for the second quarter 2011 is expected to be in the range of approximately minus RMB8 million (US$1.2 million) to RMB1 million (US$0.2 million).

     Fourth Quarter Highlights:    

• Total revenue increased 28% year-over-year to RMB73.5 million (US$11.1 million).
     
• Gross profit increased 15% year-over-year to RMB28.1 million (US$4.3 million).
     
• Adjusted EBITDA was RMB10.4 million (US$1.6 million), a 131% increase compared with RMB4.5 million in the fourth quarter 2009.
  
• Operating income was RMB2.6 million (US$0.4 million), compared with an operating loss of RMB3.6 million in the fourth quarter 2009.
     
• Net income was RMB0.5 million (US$0.1 million), an improvement from a net loss of RMB2.2 million in the fourth quarter 2009.
     
• Adjusted net income increased 29% to RMB9.2 million (US$1.4 million), compared with adjusted net income of RMB7.1 million in the fourth quarter 2009.
     
• Basic and diluted net earnings per share were RMB0.12 (US$0.02), as compared to basic and diluted net loss per share of RMB0.67 in the fourth quarter 2009.
     
• Adjusted diluted net earnings per share improved to RMB2.21 (US$0.33), as compared to diluted net earnings per share of RMB2.05 in the fourth quarter 2009.
  

Mr. Adam Yan, Chairman and Chief Executive Officer ("CEO"), said, "I am pleased to report continued business expansion in the fourth quarter 2010, which enabled us to surpass our guidance and deliver 28% year-over-year top-line growth. This growth was mainly driven by our fast moving consumer goods ("FMCG"), Grocery, Logistics and Department Store verticals, which maintained their rapid growth trajectories during what is our seasonally strongest quarter. The strong performance rounded out a very solid 2010 as revenue for the full year grew 40%, service fee income increased 58% and adjusted net income more than doubled over 2009. Despite the anticipated seasonal slowdown in the first quarter, we are optimistic about the outlook for 2011 as a whole. In addition to benefitting from China's booming retail and consumer goods industries, we believe that our innovative and attractive software and services offerings will enable our growth to outpace that of the industry as we continue to strengthen our software core business while expanding our scope in order to increase recurring maintenance and cloud service revenues."

• eFuture expects total revenue for the first quarter 2011 to be in the range of approximately RMB15 million (US$2.3 million) to RMB19 million (US$2.9 million). Adjusted EBITDA for the first quarter 2011 is expected to be in the range of approximately loss RMB3 million (US$0.5 million) to loss RMB6 million (US$0.9 million).

THIRD QUARTER 2010 FINANCIAL HIGHLIGHTS

• Total revenue increased 28.8% year-over-year to RMB32.5 million (US$4.9 million).

• Gross profit increased 29.0% year-over-year to RMB12.4 million (US$1.9 million). Gross margin was 38.3%, in line with the third quarter 2009.

• Adjusted EBITDA for the third quarter 2010 was negative RMB4.8 million (negative US$718,206), compared with negative RMB716,158 in the third quarter 2009.

• Operating loss was RMB10.2 million (US$1.5 million), compared with an operating loss of RMB5.9 million in the third quarter 2009.

• Net loss was RMB5.6 million (US$832,699), compared with a net loss of RMB4.2 million in the third quarter 2009.

• Adjusted net loss was RMB670,481 (US$100,215), compared with adjusted net income of RMB706,275 in the third quarter 2009.

• Basic and diluted net losses per share were RMB1.55 (US$0.23), as compared to basic and diluted net losses per share of RMB1.24 in the third quarter 2009.

• Adjusted basic and diluted net losses per share were RMB0.19 (US$0.03), as compared to basic and diluted net earnings per share of RMB0.21 in the third quarter 2009.

FOURTH QUARTER AND FULL YEAR 2010 GUIDANCE

Fourth Quarter 2010

• Total revenue to be in the range of approximately US$6.4 million to US8.6$ million.

• Adjusted EBITDA for the fourth quarter 2010 is expected to be in the range of approximately US$0.6 million to US$1.6 million.

Full year 2010

• Revenue to be in the range of approximately US$19.1 million to US$21.3 million.

• Adjusted EBITDA for the full year 2010 is expected to be in the range of approximately minus US$1.5 million to US$0.1 million.

SECOND QUARTER 2010 FINANCIAL HIGHLIGHTS

• Total revenue increased 61.1% year-over-year to RMB35.8 million (US$5.3 million).
  
• Operating loss was RMB3.6 million (US$528,033) from RMB9.8 million in the second quarter 2009.
  
• Net loss was RMB1.7 million (US$254,297), compared with a net loss of RMB11.4 million in the second quarter 2009.
  
• Adjusted net income improved to RMB3.5 million (US$510,051), compared with an adjusted net loss of RMB6.7 million in the second quarter 2009.
  
• Basic and diluted net losses per share were RMB0.48 (US$0.07), as compared to net losses per share of RMB3.39 in the second quarter 2009.
  
• Adjusted diluted net earnings per share improved to RMB0.96 (US$0.14), as compared to basic and diluted net losses per share of RMB1.98 in the second quarter 2009.

Mr. Adam Yan, Chairman, Chief Executive Officer ("CEO") and Acting Chief Financial Officer ("CFO"), said, "I'm very pleased to report an acceleration in top-line growth during the second quarter, combined with enhanced cost efficiency. Demand for our logistics, Fast Moving Consumer Goods (FMCG) and grocery solutions pushed up total revenue by 61% year-over-year. This rise in revenue was driven by continued retail industry growth, which resulted in increased demand from existing customers as they expanded amid the market rebound. Our restructured sales organization positioned us to capitalize on this trend, allowing us to achieve higher revenue with minimal rise in headcount and other sales costs. The rise in revenue was also driven by the booking of revenues relating to strong order growth during the second half of 2009. Combined with economies of scale, this resulted in adjusted EBITDA of RMB2.1 million on revenue of RMB35.8 million."

eFuture expects total revenue for the third quarter 2010 to be in the range of approximately US$3.5 million to US$4.2 million. Adjusted EBITDA for the third quarter 2010 is expected to be in the range of approximately minus US$0.7 million to minus US$0.2 million.