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China Information Technology, Inc.

News Detail

EQS-News News vom 12.06.2017


EQS-News / 12/06/2017 / 18:00 UTC+8


SHENZHEN, China, June 12, 2017 - China Information Technology, Inc. (Nasdaq:CNIT), a provider of cloud-app technologies for Internet-of-Things (IoT) platforms and internet-based ad distribution and ad screen sharing systems in China, today said it has entered into a contract for the sale of 3,000 CNIT cloud-based ad terminals to be installed by year-end throughout Wuhu City in Anhui Province.

The contract, signed with advertising agency Anhui Taoping IoT Technology Limited ("Anhui Taoping"), is expected to generate sales and service revenue to CNIT of about $1 million by the end of this year. Anhui Taoping is 20 percent owned by Shenzhen Taoping New-Media Limited, an ad agency of which CNIT chairman and CEO Mr. Jianghuai Lin is the controlling shareholder.

Today's news is the fourth announcement in about three weeks on CNIT's sales of its cloud-based ad terminals. The four contracts have total sales of 18,000 terminals projected to produce revenue of $5.5 million this year. Each of the contracts is also expected to generate additional revenue from customers' use of Yunfa Net (, CNIT's cloud-based system allowing an advertiser to create reduced-cost ads on a PC or mobile app, transmit these ads to the elevator ad terminals of their choice, and receive feedback from the terminals on how viewers are responding to the ads.

Purchasers of CNIT's ad terminals will also be invited to subscribe to Yunti Guard, the company's IoT safety solution comprising a series of state-of-the-art features not previously available in a single elevator maintenance system.

"We are thrilled to announce yet another sales agreement for our cloud-based ad terminals," said Mr. Lin. "With this development, we remain confident in our projection to sell at least 60,000 cloud-based ad terminals for $17.5 million in 2017."

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

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 ( 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: [email protected]


Eisenberg Communications
Jimmy Caplan
Tel: +512-329-9505
Email: [email protected]

Media Relations:
Rick Eisenberg
Tel: +212-496-6828
Email: [email protected]

12/06/2017 Dissemination of a Financial Press Release, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

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