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.
Forward-Looking Statements
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.
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For more information, please
contact:
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Company:
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James Crane
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Chief Financial
Officer
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Email: jcrane@subaye.net
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China:
+86-186-2136-3580
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U.S.: +1-617-699-6325
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Investor Relations:
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Michael Feldman
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Email: mfeldman@subaye.net
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U.S.: +1-781-879-3407
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Hong Kong:
+852-9784-1855
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SOURCE Subaye, Inc.