CNIT Signs $1.5 Million Cloud-based Ad Terminal Contract for Henan Province
SHENZHEN, China, August 15, 2017 - China Information Technology, Inc. (Nasdaq: CNIT), a provider of cloud-app technologies for internet-based ad distribution and ad screen sharing systems in China, today said it has entered into a contract for the sale of 5,000 CNIT cloud-based ad terminals to be installed in office buildings, residential communities, shopping malls and various outdoor locations by year-end throughout Henan Province. Located in central China, Henan is the nation's third most populous province and fifth largest provincial economy.
Signed with advertising agency Henan Taoping IoT Technology Limited, the contract is expected to generate sales and service revenue to CNIT of about $1.5 million by the end of this year.
Today's news is the eighth announcement since May on CNIT's sales of its cloud-based ad terminals. Each of the contracts is also expected to generate revenue from customers' use of Yunfa Net (www.cnitiot.com), 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.
"With its fast-growing economy, status as the cradle of Chinese civilization and home to many of our ancient heritage sites, Henan Province will likely be a lucrative region for CNIT," said chairman and CEO Mr. Jianghuai Lin. "Not only will this contract strengthen our foothold in Central China, it will also provide us with a springboard for landing additional cloud-based business in other parts of China."
The CEO said he expected to announce additional sales contracts "in the near future."
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 http://www.chinacnit.com.
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