CNIT Receives Follow-on Cloud-based Ad Terminal Order for Guangxi Autonomous Region
March 06 2018 - 8:00AM
China Information Technology, Inc. (the Company) (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 Yulin, a political, economic, and cultural center of the
southeastern part of Guangxi Autonomous Region.
Signed with Yulin Taoping IoT Technology Limited, the contract
is expected to generate sales and service revenue to CNIT of about
$0.5 million. Today’s announcement is the Company’s second contract
of its cloud-based ad terminal for Guangxi, following the $1
million order received in November 2017, and the twenty-second in a
series of announcements since May 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.
"Yulin is an open coastal economic zone and facing the Southeast
Asia." said Chairman and CEO Mr. Jianghuai Lin. "The follow-on
contract for Guangxi once again demonstrates the fast-expanding
prevalence of our product throughout China. With successful
execution of our market strategy in the prior year, proven track
record and the new addition of our Taoping new-media ecosystem,
CNIT is currently experiencing accelerated market demands for our
cloud-based ad terminals and solutions." 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 StatementThis 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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