CNIT Retains Dr. Daxi Li, Investment Banking and Tech Specialist, as Chief Advisor
SHENZHEN, China, August 28, 2017 - China Information Technology, Inc. (Nasdaq: CNIT), a provider of cloud-application-terminal technology for internet-based ad distribution and ad display terminal sharing systems in China, today said it has retained Dr. Daxi Li as Chief Advisor. Dr. Li will be responsible primarily for advising the Company in the fields of capital markets, corporate strategies and public relations.
Dr. Li has 20 years of investment banking, venture capital, high tech and top-level Chinese government relations experience. In addition to holding leading positions with investment banks Salomon Brothers Inc. and Lehman Brothers Inc. for 10 years, he was the founder and chairman of the Chinese Association for Science and Business (CASB), a prominent international alliance of professionals and government agencies collaborating to promote advancement of new technologies and their application to investment opportunities and enterprises vital to China.
While at CASB, Dr. Li organized multiple international conferences to promote hi-tech development, venture capital and banking reform in China, and was considered a leading consultant helping China set national economic and fiscal policy. He first gained recognition in 1997 by presenting to the Chinese Government innovative currency exchange rate and other risk control measures that helped China mediate a serious financial crisis starting to envelop Asia.
In 2005, Dr. Li was invited by the Chinese government to participate in the Chinese People's Political Consultative Conference, one of the nation's most influential advisory groups. Subsequently, he authored and presented to government leaders a book of policy suggestions for China's eleventh Five-Year Plan and as a result was appointed Economy Advisor of several Chinese provinces and cities.
Dr. Li is a co-founder and Vice Chairman of the Shenzhen Overseas Chinese Student Venture Park, a joint venture with the Shenzhen City government, hosting over 800 high-tech startup companies. Dr. Li currently serves as Director of the Board of Huiheng Medical (HHGM), a manufacturer of radiotherapy equipment for treatment of cancerous tumors, and Jiangsu Nandasoft Technology Company Ltd. (8045.HK), a developer and producer of various computer hardware and software products.
He is also the President of Columbia International College, a private business school in California, USA.
"We are thrilled to have Dr. Li join our team," said CEO and chairman Mr. Jianghuai Lin. "We are confident that his extraordinary business experience in the U.S., China and around the world will help CNIT make important connections that will lead to valuable partnerships and business opportunities going forward."
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.
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.
Email: [email protected]
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28/08/2017 Dissemination of a Financial Press Release, transmitted by EQS Group.
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