China Information Technology : CNIT Receives $1 Million Cloud-based Ad Terminal Order for Tianjin Municipality

SHENZHEN, China, September 8, 2017 - China Information Technology, Inc. (Nasdaq: CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, today said it has entered into contract for the sale of 3,000 CNIT cloud-based ad terminals to be installed in office buildings, residential communities, shopping malls and various outdoor locations throughout Tianjin Municipality, the primary industrial, commercial and economic center of North China.

Signed with advertising agency Tianjin Taoping IoT Technology Limited, the contract is expected to generate sales and service revenue to CNIT of $1 million by the first quarter of next year. The agreement - CNIT's second in 2017 for the sale of its cloud-based ad terminals in North China - follows up the company's $1.1 million ad terminal contract for Beijing announced in July.

Today's news is the eleventh in a series of announcements since May 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 revenue from customers' use of the company's Yunfa advertising distribution system and Taoping ad screen sharing platform.

'We are proud to have landed this contract for Tianjin Municipality, one of China's leading commercial centers,' said chairman and CEO Mr. Jianghuai Lin. 'As projected, we are now experiencing an acceleration in sales of our cloud-based ad terminals, due to both their technological excellence and their previous exposure in China's leading economic centers. We expect this trend to continue, and to be further boosted by today's contract for Tianjin.'

The CEO reiterated the company's projection of 2018 revenue of $30 to $33 million and adjusted net income of $9 to $11 million, with sales of 120,000 cloud-based ad terminals in 100 cities covering 200 million people throughout China.