CNIT Announces the Taoping Alliance's Member has Partnered with Ningbo News Network Media
SHENZHEN, China, May 04, 2018 -- China Information Technology, Inc. (Nasdaq: CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, announced that the Taoping Alliance's core member, Zhejiang Taoping Internet of Things Technology ("Zhejiang Taoping") has entered into a partnership agreement with Ningbo News Network Media Co., Ltd ("Ningbo Media"). This in-depth cooperation, brings the traditional media to a paperless new media era and creates "Taoping - Ningbo Daily New-media" model.
According to the agreement, Zhejiang Taoping and Ningbo Media will conduct in-depth cooperation in the field of media, implementation, consulting, and management services businesses. With the help of CNIT providing the essential technological support, Zhejiang Taoping can utilize the Taoping Alliance's nationwide advertising resource sharing platform, to ultimately accelerate the promotion of the business development of Ningbo News Network Media in the media field.
Taoping Alliance is a new media operating organization founded by CNIT and Shenzhen Taoping New-Media Limited. Since its establishment in May 2017, the members of Taoping Alliance have increased to thirty-seven and the coverage is over twenty-one provinces and provincial cities throughout China.
"We are pleased that Zhejiang Taoping has partnered with Ningbo Media," said Mr. Jianghuai Lin, the Chairman and CEO of CNIT, "The combination of traditional media, such as print, TV and broadcast, with new media, is the innovative model that Taoping Ecosystem creates. We believe this strong alliance will bring value to our stakeholders in the media industry as we are committed to be the leading role in the industry who meet the diverse needs."
Mr. Lin reiterated that by 2018, the Company expects to sell an additional 120,000 cloud-based ad terminals with market penetration in 100 cities with coverage for 200 million people throughout China.
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 digital ads distribution, new media resource sharing, elevator safety management, education, and 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.
About Ningbo News Network Media Co., Ltd.
Ningbo News Network Media Co., Ltd. ("Ningbo Media") is jointly established by Ningbo Daily Newspaper Group subsidiaries, the Ningbo Daily, the Ningbo Daily Net, Yongpai Terminal, and approved by the Ningbo Municipal Party Committee of the Communist Party of China. In the past ten years, Ningbo Media has achieved outstanding achievement such as extensive media outreach. Ningbo Media is influencial in Ningbo and Zhejiang area in China.
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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04/05/2018 Dissemination of a Marketing Press Release, transmitted by EQS Group.
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