JMU Announces Partnership with Jinyi Comprehensive Free Trade Zone
January 03 2017 - 8:30AM
JMU Limited (the “Company” or “JMU”) (NASDAQ:JMU), a leading B2B
online e-commerce platform that provides integrated services to
suppliers and customers in the foodservice industry in China, today
announced that the Company has entered into a partnership agreement
with the Jinyi Comprehensive Free Trade Zone (“Jinyi FTZ”).
Jinyi Comprehensive Free Trade Zone was
established in November 2015, covering an area of 1.79 square
kilometers in the middle of Zhejiang Province. Jinyi FTZ's
beneficial offerings include preferential tax rates, protective
tariff supervision, foreign exchange administration, inspection and
quarantine, and processing trade for companies that invest/operate
in the region.
As one of the first twelve enterprises to be
introduced into the Jinyi FTZ, JMU will build a cross-border
platform as a sub-platform of JMU’s online marketplace to provide
integrated and comprehensive services for companies in the
restaurant and hotel industries. The company will take advantage of
favorable tax policy and facility resources that furnish bonded
processing, trade and logistics services in the Jinyi FTZ to
establish an efficient supply chain platform that connects domestic
and international food material centers and introduces premium food
products from international suppliers to enrich the selection of
products on the JMU marketplace. The platform will facilitate
efficient food material import and export transactions and provide
clients in the catering industry with O2O exhibitions and bonded
logistic services.
Ms. Xiaoxia Zhu, Co-chairperson and Chief
Executive Officer commented, “We are pleased and honored to be part
of the ecosystem in Jinyi FTZ to facilitate the communication and
cooperation between upstream and downstream enterprises in the food
and catering industry. We will work together with Jinyi FTZ to
develop a new channel for food import trades in the Jinhua and Yiwu
regions. Additionally, a featured supply chain platform will be
forged together to provide customers with custom bonding and
logistics services for their procurement of imported ingredients.
We also plan to export food materials to foreign countries in the
future as the opportunities arise. These efforts complete a
comprehensive supply chain solution for our clients. We look
forward to the future development of the platform and its
contribution to the catering industry.”
About JMU Limited
JMU Limited currently operates China’s leading
B2B online e-commerce platform that provides integrated services to
suppliers and customers in the catering industry. With the help of
Internet and cloud technologies, JMU has the vision to reshape the
procurement and distribution pattern and build a fair business
ecosystem in the catering industry in China. JMU is further
promoting the use of its platform for small- and medium-sized
restaurants and restaurant chains in China.
Through cooperation with national and local
industry associations and reputable restaurant groups across China,
JMU has formed a leading industrial alliance and has great resource
leverage in China’s catering industry. JMU works closely with
suppliers and customers in the catering industry, providing
one-stop procurement services, as well as other value-added
services.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “aim”, “anticipate”, “believe”, “estimate”,
“expect”, “going forward”, “intend”, “ought to”, “plan”, “project”,
“potential”, “seek”, “may”, “might”, “can”, “could”, “will”,
“would”, “shall”, “should”, “is likely to” and the negative form of
these words and other similar expressions. Among other things,
statements that are not historical facts, including statements
about JMU’s beliefs and expectations, the business outlook and
quotations from management in this announcement, as well as JMU’s
strategic and operational plans, are or contain forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: The general
economic and business conditions in China may deteriorate. The
growth of Internet and mobile user population in China might not be
as strong as expected. JMU’s plan to enhance customer experience,
upgrade infrastructure and increase service offerings might not be
well received. JMU might not be able to implement all of its
strategic plans as expected. Competition in China may intensify
further. All information provided in this press release is as of
the date of this press release and are based on assumptions that we
believe to be reasonable as of this date, and JMU does not
undertake any obligation to update any forward-looking statement,
except as required under applicable law.
Contact:
Lichao Zhao, IR Director
JMU Limited
zhaolichao@ccjmu.com
Tel: +86-185-1627-8876
Bill Zima
ICR Inc.
bill.zima@icrinc.com
Tel: +1(203)-682-8200
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