Partnership Targets Major Private Enterprises And
Internet Content Providers In China, As Online Commerce
Is Poised To Explode On The Mainland
Hong Kong - August 22, 2000 - 3Fusion, a global, Distributed E-Commerce Service Provider, and Beijing Founder Electronics Co., Ltd., a wholly-owned subsidiary of SEHK-listed Founder Holdings Limited, announced the other day that they had just entered into a partnership agreement to market 3Fusion's Distributed E-Commerce Solution to private enterprises and Internet Content Providers in China.
Under the terms of the partnership agreement, 3Fusion and Beijing Founder Electronics Co., Ltd. will provide hosted services for 3Fusion's Distributed E-Commerce Solution. The partnership will provide for training, technical support and payment gateway in China. Founder will also use its close connection with the PRC's Super Media Alliance to promote 3Fusion's Distributed E-Commerce Solution to private enterprises in China. The Super Media Alliance is part of the clientele of Beijing ADTargeting Inc., a joint venture between Beijing Founder Electronics and Yahoo! International. The Alliance includes now as members 30-something media throughout China. The number of its members looks to grow steadily in the years to come.
"We are delighted that Beijing Founder Electronics Co., Ltd. has selected 3Fusion as a strategic partner," said Jason Lim, CEO of 3Fusion, Inc. , "Founder has a sound understanding of e-commerce in China, a well articulated E-Media Strategy, and a dominant share of the Chinese newspaper and printing industries in China. We are confident that, with the help of Founder, 3Fusion's Distributed E-Commerce Solution will help greatly develop e-commerce in China."
"3Fusion's Embedded Catalog technology allows our Internet Content Partners to monetize their content, leveraging their traffic and community to drive transaction to our hosted merchants network, " said Ricky Lee, President of Beijing Founder Electronics Co., Ltd.
The Chinese E-Commerce Market
E-Commerce in China is expected to grow at explosive rates, according to a wide variety of market analysts. According to The Internet in China, a report by BDA (China) Ltd and The Strategis Group, e-commerce in China will take off far sooner than many expect because the groundwork has already been laid.
Approximately 41% of Internet users in China use bankcards and 89% of Chinese Internet users plan to purchase online when conditions mature. And conditions are maturing rapidly. The Chinese government is encouraging e-commerce initiatives and a majority of companies in China are either evaluating or implementing e-commerce solutions.
According to the World Bank, private enterprises account for two-thirds of industrial output. The Yankee Group recently predicted that China will lead Asia-Pacific Net usage-with 40 million people online in 2001. By 2005, the Yankee Group expects, China is bound to have the most users in the world, surpassing the United States.
About Beijing Founder Electronics Co., LTd.
Beijing Founder Electronics Co., Ltd, a wholly owned subsidiary of Founder Holdings Limited (SEHK: 418), a listed company on the Stock Exchange of Hong Kong. Beijing Founder Electronics Co. Ltd has 26 subsidiaries and 9 branch offices in China. Its principle activities include software development and system integration. The company also has a R&D Center known as Founder R&D Center, which is one of the 20 state sponsored research centers in China. Beijing Founder Electronics Co. Ltd's strategy is to provide to businesses and enterprises a digital information platform from where to develop ther E-Business. Beijing Founder Electronics Co. Ltd is a world leading company in the publishing system and digital media industries. Earlier this year saw a joint venture established between Beijing Founder Elctronics and Yahoo! International, which is known as Beijing ADTargeting Inc. It implements the latest marketing business model - Interactive Fusion Marketing. It also owns a B2C web site, http://www.mrbuy.com.cn.
About 3Fusion
3Fusion. Inc. is the first company that combines a hosted, end-to-end e-commerce platform with an innovative multiple channel selling solution. The 3Fusion Distributed E-Commerce Platform utilizes embedded catalogs that can be used to build branded storefronts or bring products to markets by inserting catalogs in content, community discussions and outbound emails. The 3Fusion Distributed E-Commerce Platform can be deployed in a matter of weeks and provides a suite of easy-to-use browser based services to facilitate e-business operations as well as logistics, customer call center and payment services through its network of partners. 3Fusion is a privately held company with Headquarters at Silicon Valley's Union City and offices in Singapore, Shanghai and Kuala Lumpur. For more information, please visit 3Fusion at http://www.3fusion.com.
For Further Information Please Contact:
3Fusion North America/Europe
Paul Gross
pgross@3fusion.com
1.510.477.6411
3Fusion Asia/Pacific
Selena Lee
selena@3fusion.com
65.796.2880
Beijing Founder Electronics Co., Ltd
Meg Yang
meg_yang@founder.com.cn
86.10.8519.1231
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