CNIT's Cloud-based Products to be Marketed by AMTT Digital to Hotels, Resorts and Serviced Apartments throughout China
SHENZHEN, China, August 30, 2017 - China Information Technology, Inc. (Nasdaq: CNIT), a provider of cloud-app-terminal technology for internet-based ad distribution and ad display terminal sharing systems in China, today said it has entered into a strategic partnership agreement with advertising agency Shenzhen Taoping New-Media Limited, and AMTT Digital Service Group, China's largest hotel internet service operator serving one million hotel rooms and over 3,000 premium hotels and resorts across the world.
Under the agreement, AMTT will act as the sole distributor for CNIT's three-part bundled product comprising the company's cloud-based display terminals, Yunfa advertising distribution system, and Taoping ad screen sharing platform. AMTT will market this bundled product to tens of thousands of star-rated hotels, resorts and serviced apartments throughout China. Shenzhen Taoping and AMTT will co-market the product to the nation's hotel advertising industry.
The first step of the partnership calls for AMMT to install approximately 30,000 CNIT cloud-based elevator ad terminals at AMTT's current and potential customer hotels as well as integrate those facilities' existing 5,500 display terminals in conference rooms, ballrooms and lobbies into CNIT's cloud-based network via CNIT's proprietary Taoping USB device.
This will be followed by AMMT's marketing of CNIT's three-part bundled product to three-star and higher hotels in leading commercial sectors of China.
"This agreement ranks as one of the most important we have ever signed," said CNIT chairman and CEO Mr. Jianghuai Lin. "With AMTT's enormous reach and influence in the hotel and resort industry, both in China and across the globe, we are optimistic this collaboration will produce significant advances for CNIT for years to come."
Although a revenue estimate for the partnership is not yet available, Mr. Lin said he believed the figure would be "highly substantial" by next year.
The CEO added that he expects to make additional announcements on this collaboration and on "other positive company events" 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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30/08/2017 Dissemination of a Financial Press Release, transmitted by EQS Group.
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