TAOPING INC Shenzhen, China--(Newsfile Corp. - June 23, 2016) - China Information Technology, Inc. (NASDAQ: CNIT), a leading provider of internet-based platforms and digital advertising services in China, today announced the receipt of an order for 700 elevator digital ad terminals to be installed in Huizhou City in Guangdong Province. This order is a follow-on to an initial contract, announced on Aug 12, 2015, for the installation of 922 of the company's ad terminals in Huizhou.
The new 700 terminals, which will be installed in elevators in office buildings, hotels, shopping malls and residential communities beginning the second half of this year, will carry advertising targeted to diverse audience groups and enable viewers to request information about advertisers' products and services.
In addition to sales revenue on the terminals, CNIT is expected to receive recurring monthly fees for the life of the units via Elevator Guard, the company's elevator maintenance system providing building management entities with real-time data monitoring services and providing elevator passengers with sophisticated alarm and emergency functions.
CNIT may also receive additional revenue from customers' use of Yunfa Net (www.pubds.com), the company's cloud-based content delivery platform that enables advertisers to design ads on their PC or mobile app and transmit them to their terminals of choice.
Today's announcement follows six previous agreements signed by CNIT since last August providing for combined installation of some 42,000 terminals in 20 cities throughout China.
"We're thrilled to have received yet another order for our elevator ad terminals," said CNIT CEO and chairman, Mr. Jianghuai Lin. "This order confirms the popularity of our terminals in the Huizhou region and will, we believe, provide a springboard for us to capture further sales contracts for our terminals in other major cities."
About China Information Technology, Inc.
China Information Technology, Inc. (NASDAQ: CNIT) is a leading Internet service company that provides integrated cloud-based solutions enabling innovation and smart living in the fields of new media, city 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://en.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
Asia IR-PR
Jimmy Caplan
Tel: +512-329-9505
Email: jimmy@asia-irpr.com
or
Media Relations: Asia IR-PR
Rick Eisenberg
Tel: +212-496-6828
Email: rick@asia-irpr.com
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