SHENZHEN, China, November 10, 2014 /PRNewswire/ -- China Information Technology, Inc. (the "Company") (Nasdaq GS: CNIT), a leading provider of end-to-end cloud-based platform, exchange, and big data solutions to the Chinese new media industry, today announced that it has entered into a five-year leasing and service contract to install the Company's cloud-based digital display terminals at the Changsha Huanghua International Airport and provide relevant services. Under the contract, the Company will receive recurring monthly fees that include display terminal rental and platform service fees.
"We are excited to bring our state-of-the-art ad placement and information distribution solutions to Huanghua Airport. This contract serves as another endorsement to the robust and versatile application of our new media platform in the transportation industry. We continue to expand our share in this important market segment at airports, bus stops and railway stations nationwide," said Mr. Jianghuai Lin, Chairman and CEO of the Company. "We are confident in the value proposition of our cloud-based new media advertising offerings and look forward to gaining more customers in more industries."
Through the CNIT Cloud-App-Terminal (CAT) transportation platform, the advertising agency client can manage all of its ad contents on the digital display terminals wirelessly. To be installed by December 2014, each of the digital display terminals is equipped with a 50-inch vertical screen and a 42-inch horizontal screen. These dual-screened terminals will display high-definition advertisement and public information near security checkpoints at the airport.
Serving Changsha and nearby cities in Hunan province, the Changsha Huanghua International Airports is a regional transportation hub in central China and one of the major airports in China.
About China Information Technology, Inc.
Headquartered in Shenzhen, China Information Technology, Inc. provides integrated cloud-based platform, exchange, and big data solutions to the Chinese new media industry. The Company's ecosystem enables ad buyers and sellers to seamlessly manage the entire advertisement lifecycle and exchange media resources. Based on its proprietary Cloud-App-Terminal (CAT) model, the Company has created an integrated cloud-based new media platform, which supports its online advertisement exchange platform Taoping Net and related big data value-added services. These strategic initiatives are forming an extensive and diversified CNIT ecosystem and laying a solid foundation for a sustainable business. 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.
Tiffany Pan
Tel: +86 755 8370 4767
Email: ir@chinacnit.com
http://www.chinacnit.com
Grayling
Shiwei Yin
Investor Relations
Tel: +1.646.284.9474
Email: cnit@grayling.com
