CNIT Receives the Fourth Contract for Guangxi Autonomous Region
March 19 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 1,500 CNIT cloud-based ad terminals to be
installed in office buildings and residential communities
throughout Baise, a national highway transport hub in Guangxi
Autonomous Region.
Signed with Baise Taoping IoT Technology
Limited, the contract is expected to generate sales and service
revenue to CNIT of about $0.5 million. Today's news is the
twenty-fourth in a series of announcements since May of 2017 on
CNIT's sales of its cloud-based ad terminals. Each sale is expected
to generate recurring service and commission revenue from
customers' use of the Company's Yunfa advertising distribution
system and Taoping (淘屏) Net/App ad screen sharing platform.
"Baise is the westernmost city in Guangxi
bordering Guizhou province and Yunnan Province," said Chairman and
CEO Mr. Jianghuai Lin. "The contract in Baise is another success
following CNIT’s $0.5 million contract in Hezhou, Guangxi
Autonomous Region this March. This contract will strengthen our
presence into neighbor provinces. It reflects a high market demand
as well as a deep market penetration of our cloud-based ad terminal
and solution." he 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.
Safe Harbor Statement
This press release may contain certain
"forward-looking statements" relating to the business of China
Information Technology, Inc., and its subsidiaries and other
consolidated entities. All statements, other than statements of
historical fact included herein, are "forward-looking statements"
in nature within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements, often
identified by the use of forward-looking terminologies such as
"believes", "expects" or similar expressions, involve known and
unknown risks and uncertainties. Although the Company believes that
the expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. Investors should
not place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company’s
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company’s periodic
reports that are filed with the Securities and Exchange Commission
and available on its website (http://www.sec.gov). All
forward-looking statements attributable to the Company and its
subsidiaries and other consolidated entities or persons acting on
their behalf are expressly qualified in their entirety by these
factors. Other than as required under the securities laws, the
Company does not assume a duty to update these forward-looking
statements.
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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