BEIJING, Oct. 25 /PRNewswire-Asia-FirstCall/ -- China TransInfo Technology Corp. (Nasdaq: CTFO), ("China TransInfo" or the "Company"), a leading provider of intelligent transportation systems for highway and urban transportation management in China through its affiliate, China TransInfo Technology Group Co., Ltd. (the "Group Company"), announced today that Deloitte Touche Tohmatsu included China TransInfo and its majority-owned subsidiary Beijing UNISITS Technology Co. Ltd. ("UNISITS") in the Deloitte Technology Fast 50 China 2010 program, recognizing the Company and its subsidiary as being among the top 50 fastest growing high-tech companies in the technology sector in China.
Companies awarded Deloitte Technology Fast 50 China 2010 status will automatically qualify for the Deloitte Technology Fast 500 Asia Pacific 2010 program, which annually recognizes the 500 fastest growing high-tech companies in the Asia Pacific region. Winners will receive significant exposure and recognition from media and industry professionals and be included in an exclusive network of high performing technology companies.
"We are deeply honored to have been recognized by Deloitte for the second year in a row and we are also happy that UNISITS was recognized for the first time given its strong track record of growth, further underscoring our position as the leader in China's fast growing transportation information industry," said Mr. Shudong Xia, Chief Executive Officer of China TransInfo. "We have seen continued momentum for our transportation IT solutions and applications and we are expanding our penetration into target markets with new acquisitions. We believe our business will continue to be supported by the Chinese government's increasing focus on upgrading the country's transportation infrastructure with intelligent technologies and will benefit from the increasing demand from Chinese consumers for transportation information services in the years ahead."
About China TransInfo
China TransInfo, through its affiliate, China TransInfo Technology Group Co., Ltd., (the "Group Company") and the Group Company's PRC operating subsidiaries, is primarily focused on providing urban and highway transportation management solutions and information services. The Company is a leading transportation information products and comprehensive solutions provider, and aims to be the largest real time transportation information service provider and major fleet management service provider in China. As the co-formulator of several transportation technology national standards, the Company owns five patents and has won a majority of the model cases awarded by the PRC Ministry of Transportation. As a result, the Company is playing a key role in setting the standards for transportation information solutions in China. For more information, please visit the Company's website at http://www.chinatransinfo.com.
Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements". All statements other than statements of historical fact included herein are "forward-looking statements". These forward looking statements are often identified by the use of forward-looking terminology 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. You 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 or persons acting on its 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.
SOURCE China TransInfo Technology Corp.