SHENZHEN, China, December 1, 2014 /PRNewswire/ — China Information Technology, Inc. (the "Company" or "CNIT") (Nasdaq GS: CNIT), a leading provider of integrated cloud-based platform, exchange, and big data solutions to the Chinese new media industry, today announced the execution of a five-year sales and service contract to install 300 units of its cloud-based new media terminals at premium residential communities in Wudang District of Guiyang City in the first quarter of 2015. Under the contract, the Company will receive one-time revenue from terminal sales as well as recurring monthly platform service fees.
Mr. Jianghuai Lin, Chairman and CEO of CNIT, stated, "With the introduction of our cloud-based new media terminals in Guiyang, we have expanded the application of our new media offerings to residential communities . Our community-oriented new media services now include indoor and outdoor terminals delivering high definition advertising and community public information announcements, as well as indoor terminals with elevator safety monitoring and operational supervision. CNIT cloud-based new media terminals will be installed throughout premium residential communities in the Wudang district encompassing 100,000 residents. We hope to build upon this recent success to innovate additional leading-edge technology solutions to support more residential communities."
Through the CNIT Cloud-App-Terminal (CAT) community platform, high-definition advertising and community information will be remotely managed and displayed on waterproof (at IP65 level) outdoor display terminals equipped with 55-inch vertical LCD screens.
Located in Guiyang City, the Wudang District was selected as one of the first pilot zones for the national Smart City project and has the highest concentration of high-tech and publicly traded companies within Guizhou Province.
About China Information Technology, Inc.
China Information Technology, Inc. (NASDAQ: CNIT) is on a mission to make advertising accessible and affordable for businesses of all sizes. CNIT is a leading provider of integrated cloud-based platform, exchange, and big data solutions to the Chinese new media industry. Its Internet ecosystem enables all participants of the new media community to efficiently promote brands, disseminate knowledge, and exchange resources. Through continuous innovation, CNIT is leveraging 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.
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