CNIT Receives $1 Million Cloud-based Ad Terminal Order for Heze, Shandong Province
February 26 2018 - 8:00AM
China Information Technology, Inc. (Nasdaq: CNIT), a leading
provider of internet-based ad distribution and ad display terminal
sharing systems in China, announced that it has entered into a
contract for the sale of 3,000 CNIT cloud-based elevator ad
terminals to be installed in office buildings and residential
communities throughout Heze, a fast-growing prefecture-level city
in southwestern Shandong Province.
Signed with Heze Taoping IoT Technology Limited, the contract is
expected to generate sales and service revenue to CNIT of about $1
million. Today's news is the twenty-first in a series of
announcements since May of 2017 on CNIT's sales of its cloud-based
ad terminals. Each of the contracts - which range in value from
$0.5 to $3 million - is also expected to generate recurring revenue
from customers' use of the company's Yunfa advertising distribution
system and Taoping ad screen sharing platform.
"Heze is a hub city connecting four provinces in the northeast
of China." said Chairman and CEO Mr. Jianghuai Lin. "The contract
in Heze is another success following CNIT’s $1 million contract in
Fujian province this February. This contract will continue
expanding marketing influence of CNIT and accelerate our
implementation plan in 2018. In addition, the innovation of Taoping
new-media ecosystem has proven to be the major drive for the market
expansion of our cloud-based products and solutions in the
fast-growing advertising industry of China.” Mr. Lin added.
Mr. Lin reiterated that by 2018, the Company
expects to sell an additional 120,000 cloud-based ad terminals with
market penetration in 100 cities with coverage for 200 million
people throughout China.
About China Information Technology, Inc.
China Information Technology, Inc. (CNIT) is a leading Internet
service company that provides integrated cloud-based solutions
enabling innovation and smart living in the fields of new media,
elevator safety management, education, etc. Through continuous
innovation, CNIT is aiming to leverage its proprietary
Cloud-Application-Terminal technology to level the competitive
landscape in the new media industry and deliver value for its
shareholders, employees, customers, and the community. To learn
more, please visit http://www.chinacnit.com.
For further information, please contact:
China Information Technology, Inc.
Iris Yan
Tel: +86-755-8370-4767
Email: IR@chinacnit.com
http://www.chinacnit.com
or
Dragon Gate Investment Partners LLC
Tel: +1(646)-801-2803
Email: cnit@dgipl.com
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