SHENZHEN, China, Jan. 4, 2016 /PRNewswire/ -- China Information Technology, Inc. (Nasdaq: CNIT), a leading provider of internet-based platforms and digital advertising services in China, today said it has entered into a strategic partnership agreement with Jiangsu CAT Internet-of-Things Company, Ltd., an information technology solutions provider in Jiangsu Province, to install 10,000 of CNIT's cloud-based elevator ad terminals across the Province over the next several years.
The terminals, which will be installed primarily in office building elevators, will carry advertising targeted to specific local audiences in high-traffic areas and enable viewers to easily make purchases or request information about these advertisers' products and services. Digital ads on the terminals can be automatically updated and linked to relevant local news and developments.
This technology is facilitated through Yunfa Net (www.pubds.com), CNIT's cloud-based publication platform.
As per today's agreement, CNIT will receive one-time sales revenue as well as recurring monthly service fees for the life of the terminals.
"We're very excited to have completed yet another agreement for our cloud-based new media terminals," said CNIT CEO and chairman, Mr. Jianghuai Lin.
"Our terminals help smaller companies on limited ad budgets to significantly lower their cost of advertising while increasing the ability to target ads to their most likely customers. In addition, our Yunfa Net technology permits our clients to design and transmit their ads from the comfort of their own PC or mobile app.
"We believe these advantages are helping transform the public space advertising landscape across China and will provide increasingly lucrative opportunities for CNIT for several years to come."
Today's agreement follows CNIT's December 9 agreement to roll out 10,000 of its ad terminals in Sichuan Province, a September 2 announcement to install 1,200 terminals in Guizhou and Fujian Provinces, and an August 12 agreement to install 922 terminals in Guangdong Province.
As of today, CNIT's cloud-based ad terminals have been installed in over 15 provinces and areas across China. The company expects the terminals' market coverage and overall sales will increase significantly over the next 12 to 18 months.
About China Information Technology, Inc.
China Information Technology is a leading Internet service company that makes advertising accessible and affordable for businesses of all sizes. CNIT provides cloud-based platform, exchange, and big data solutions enabling innovation and smart living in the education, health care, new media, finance and transportation sectors. 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.
Media Relations: Asia IR-PR
SOURCE China Information Technology, Inc.