GUANGZHOU CITY, China, Feb. 2, 2011 /PRNewswire-Asia/ -- Subaye, Inc. (Nasdaq: SBAY) ("Subaye" or the "Company"), a leading online business services provider in China engaged in enterprise cloud computing, video marketing and business to consumer ("B2C") online solutions announced today the delayed launch of its International Online 3D Mall until May 16, 2011.
Zhiguang Cai, Subaye's Chief Executive Officer, stated, "We are focused on our Bundled Cloud Product ("BCP") sales growth with an emphasis on reaching significant marketshare in China during 2011 and 2012. That focus has not changed since we committed to our cloud computing core business model in early 2010. We will launch complimentary and enhanced versions of our online and mobile platforms form time to time but the launch of our Online 3D Mall, Group Buy and the International Online 3D Mall should not be construed as changes in our business model or core drivers of our future growth. These web properties were developed with minimal cost and are primarily intended to further develop Subaye's brand awareness in China and also create indirect BCP customer acquisition channels. Although we are hopeful that these web properties will produce significant revenues for Subaye, the potential revenue streams from these web properties are expected to be a fraction of our BCP revenues and have never been included in Subaye's projected financial results."
James Crane, Subaye's Chief Financial Officer, stated, "We look forward to releasing our January 31, 2011, customer figures shortly. We are also finalizing plans for attendance at one or two major investor conferences in March 2011 and a non-deal investor roadshow in the U.S. in March. I will reiterate again that these conferences and the roadshow are being contemplated with the hope of raising investor awareness and Subaye is not and will not consider a capital raise in short term. We have several corporate initiatives that we plan to fulfill before these plans would change. Lastly, our new investor relations website is on track for completion by February 28, 2011."
About Subaye, Inc.
Subaye, Inc. is a leading online business services provider in China engaged in enterprise cloud computing, video marketing and business to consumer (B2C) business solutions. Subaye's online business services include B2C ecommerce, emanagment solutions, emarketing solutions, eservice solutions and video search engine optimization. For further information on Subaye, Inc., please visit http://www.subaye.net.
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about Subaye, Inc.'s industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Subaye, Inc.'s operations are conducted in the People's Republic of China ("PRC") and, accordingly, are subject to special considerations and significant risks not typically associated with companies in North America. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company's results may be adversely affected by changes in the political and social conditions in the PRC and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. Other potential risks and uncertainties include but are not limited to the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
SOURCE Subaye, Inc.