SHANGHAI, Aug. 7, 2017 /PRNewswire/ -- 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's consolidated affiliated entity in China, Shanghai Zhongmin Supply Chain Management Co., Ltd., reached a strategic partnership agreement with Hutchison Whampoa Properties (Shanghai) Lujiazui Ltd. and TANSH Global Food Group Co., Limited ("TANSH", formerly Xiao Nan Guo Restaurants Holdings Limited) (HKEx:3666) on the development of Project "Lane1192" (Cooperative Area), a nearly 3,000 square-meter space designed for commercial use in Century Link, on August 1, 2017.
Under the partnership, JMU and TANSH will establish a joint venture to oversee the store leasing process in the Cooperative Area and provide operating guidance and advice to its tenant shops and restaurants. TANSH will utilize its operating experience and advantages to introduce restaurant and food material brands to the Cooperative Area, and JMU will provide the integrated services of a back-end restaurant ERP system and supply chain logistics.
Ms. Xiaoxia Zhu, JMU's Co-Chairperson and CEO commented: "We are very pleased to partner with Century Link and TANSH to build a new foodservice operating model that showcases our capabilities in commercial property management, premium restaurant and food material branding and supply chain standardization. Through the partnership, we will become the leading service provider that can satisfy different consumer demands in one modern venue, a one-stop shop in which consumers can dine in, take out or buy high quality semi-finished food. We believe this new operating model is one of the future directions of the restaurant and food catering industry and are optimistic about its success. We look forward to further expanding this operating model to the wider China market."
Century Link is developed by Hutchison Whampoa Properties (Shanghai) Lujiazui Ltd. and is located in one of the busiest communities in Shanghai. Century Link stands at the crossing of Century Avenue, Zhangyang Road and Dongfang Road in Lujiazui, Pudong New District, where Subway lines 2, 4, 6 and 9 intersect. The mall in Century Link Mall occupies seven floors, featuring a total of 140,000 square meters of commercial space and a 3,000 square-meter atrium.
TANSH is a Chinese company listed in Hong Kong with over 30 years of history as a global catering brand investment development group. The company's brands offer a variety of formats, including Chinese food, Western food, and casual dining, and includes Shanghai Xiao Nan Guan, Nan Xiao Guan, Hui Gong Guan, ORENO, Pokka Café, Wolfgang Puck, The Boat House, Mai Chi Ling, and other invested and managed international brands.
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. For more information, please visit: http://ir.ccjmu.com.
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.
Freda Feng, IR Director
Tel: +86-21-6015-1166 ext.8904
SOURCE JMU Ltd