SHENZHEN, China, Dec. 8, 2015 /PRNewswire/ -- China Information Technology, Inc. (Nasdaq: CNIT), a leading provider of internet-based platforms, products and services in China, today said it entered into a strategic partnership agreement with Sichuan CAT Internet-of-Things Company, Ltd., an information technology solutions provider in Sichuan Province, to roll out CNIT's new media elevator terminals across the Province.
CNIT expects 10,000 of the terminals to be sold and installed within the next several years, for which the company will receive one-time terminal sales and recurring monthly service fees over this period.
Equipped with CNIT's proprietary mainboard and operating system, the terminals will display advertising and public information through Yunfa Net (www.pubds.com), the company's cloud-based publication platform. Integrated with surveillance cameras and data collectors, the terminals will also transmit data on elevator operation to property management on a real-time basis.
Today's agreement follows a September 2 announcement that the company will install 1,200 new media elevator terminals in Guiyang City in Guizhou Province and Longyan City in Fujian Province, and an August 12 announcement that CNIT will install 922 terminals in Huizhou City in Guangdong Province. To date, the company's terminals have been successfully introduced into numerous strategic markets throughout China, an accomplishment that has strengthened CNIT's brand recognition and the competitiveness of cloud-based new media solutions.
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.
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SOURCE China Information Technology, Inc.