UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

o

Rule 13d-1(b)

x

Rule 13d-1(c)

o

Rule 13d-1(d)

CUSIP No. G29438101

1.

Names of Reporting Persons
Capital Ventures International

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

o

(b)

o

3.

SEC Use Only

4.

Citizenship or Place of Organization
Cayman Islands

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power
0

6.

Shared Voting Power **
207,086

7.

Sole Dispositive Power
0

8.

Shared Dispositive Power **
207,086

9.

Aggregate Amount Beneficially Owned by Each Reporting Person
207,086

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

11.

Percent of Class Represented by Amount in Row (9)
6.8%

12.

Type of Reporting Person (See Instructions)
CO

CUSIP No. G29438101

1.

Names of Reporting Persons
Heights Capital Management, Inc.

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

o

(b)

o

3.

SEC Use Only

4.

Citizenship or Place of Organization
Cayman Islands

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power
0

6.

Shared Voting Power **
207,086

7.

Sole Dispositive Power
0

8.

Shared Dispositive Power **
207,086

9.

Aggregate Amount Beneficially Owned by Each Reporting Person
207,086

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

11.

Percent of Class Represented by Amount in Row (9)
6.8%

12.

Type of Reporting Person (See Instructions)
CO

CUSIP No. G29438101

Item 1.

(a)

Name of Issuer

e-Future Information Technology Inc., a Cayman Islands corporation (the “Company”).

(b)

Address of Issuer’s Principal Executive Offices

No. 10 Building, BUT Software Park

No.1 Disheng North Street, BDA

Yizhuang District, Beijing 100176, People’s Republic of China

Item 2.

(a)

Name of Person Filing

This statement is filed by the entities listed below, who are collectively referred to herein as “Reporting Persons,” with respect to the shares of Common Stock of the Company, $0.0756 par value per share, issued upon conversion of the senior convertible notes to the Reporting Persons (the “Shares”).

(i)            Capital Ventures International

(ii)           Heights Capital Management, Inc.

(b)

Address of Principal Business Office or, if none, Residence

The address of the principal business office of Capital Ventures International is:

One Capitol Place

P.O Box 1787 GT

Grand Cayman, Cayman Islands

British West Indies

The address of the principal business office of Heights Capital Management, Inc. is:

101 California Street, Suite 3250

San Francisco, California 94111

(c)

Citizenship

Citizenship is set forth in Row 4 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.

(d)

Title of Class of Securities

Common Stock, $0.0756 par value per share

(e)

CUSIP Number

G29438101

CUSIP No. G29438101

Item 3.

If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

(a)

o

Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b)

o

Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c)

o

Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d)

o

Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e)

o

An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);

(f)

o

An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);

(g)

o

A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);

(h)

o

A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i)

o

A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j)

o

Group, in accordance with §240.13d-1(b)(1)(ii)(J).

Item 4.

Ownership

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

The information required by Items 4(a) – (c) is set forth in Rows 5 – 11 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.  The amount each Reporting Person beneficially owns includes warrants to purchase 207,086 Shares.  Based upon Amendment No. 1 to the Company’s Registration Statement on Form F-3 filed on November 26, 2007, there were 2,833,580 ordinary shares outstanding as of November 21, 2007. 

Heights Capital Management, Inc., which serves as the investment manager to Capital Ventures International, may be deemed to be the beneficial owner of all Shares owned by Capital Ventures International. Each of the Reporting Persons hereby disclaims any beneficial ownership of any such Shares, except for their pecuniary interest therein.

Item 5.

Ownership of Five Percent or Less of a Class

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following   o.

CUSIP No. G29438101

Item 6.

Ownership of More than Five Percent on Behalf of Another Person

Not applicable.

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person

Not applicable.

Item 8.

Identification and Classification of Members of the Group

Not applicable.

Item 9.

Notice of Dissolution of Group

Not applicable.

CUSIP No. G29438101

Item 10.

Certification

By signing below each of the undersigned certifies that, to the best of its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

Exhibits:

Exhibit I: Joint Filing Agreement, dated as of March 21, 2007, by and among Capital Ventures International and Heights Capital Management, Inc.

CAPITAL VENTURES INTERNATIONAL

HEIGHTS CAPITAL MANALLGEMENT, INC.

By: Heights Capital Management, Inc.

By:

/s/ Todd Silverberg

pursuant to a Limited Power of

Name:

Todd Silverberg

Attorney, a copy of which is filed as

Title

Secretary

Exhibit A thereto

By:

/s/ Todd Silverberg

Name:

Todd Silverberg

Title

Secretary

The Limited Power of Attorney executed by Capital Ventures International, authorizing Heights Capital Management, Inc. to sign and file this Schedule 13G on its behalf, which was filed with the Schedule 13G filed with the Securities and Exchange Commission on December 1, 2006 by Capital Ventures International and Heights Capital Management, Inc. with respect to the common stock of Discovery Laboratories, Inc., is hereby incorporated by reference.

CUSIP No. G29438101

CAPITAL VENTURES INTERNATIONAL

HEIGHTS CAPITAL MANALLGEMENT, INC.

By: Heights Capital Management, Inc.

By:

/s/ Todd Silverberg

pursuant to a Limited Power of

Name:

Todd Silverberg

Attorney, a copy of which is filed as

Title

Secretary

Exhibit A thereto

By:

/s/ Todd Silverberg

Name:

 Todd Silverberg

Title

Secretary