BEIJING, Jan. 12 /PRNewswire-Asia-FirstCall/ -- China TransInfo Technology Corp., (Nasdaq: CTFO), ("China TransInfo" or the "Company"), a leading provider of public transportation information systems technology and comprehensive solutions in the People's Republic of China ("PRC") today announced that the Company received RMB 4 million (approximately USD $0.6 million) technology innovation funds from the Beijing government for the TransPLE Passenger Flow Statistic, Detecting and Analysis System (the "TransPLE").
The TransPLE, an equipment and monitoring service system launched in August 2009, tracks transit passengers in high density areas, such as metro stations, railway stations, and airports. The technology utilizes multi-modal sensor networks composed of several laser scanners and cameras to detect and analyze pedestrian flow quantity, density, speed, and direction. The TransPLE assists government authorities to develop and expand high-traffic transportation centers with optimal configurations.
"We are very pleased to receive the funds from the Beijing government, which reflects the recognition of our TransPLE products by the government," commented Shudong Xia, Chief Executive Officer of China TransInfo. "In conjunction with the rapid development of the transportation infrastructure in Beijing, the demands for passenger flow detecting and relevant technologies and applications have been growing significantly. We are very confident that China TransInfo's TransPLE provides the highest accuracy and reliability in this niche and expect to realize commercialization in 2010."
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 transportation information services and comprehensive solutions based on GIS technologies. The Company aims to become the largest transportation information products and comprehensive solutions provider, as well as the largest real time transportation information platform operator and provider in China. In addition, the Company is developing its transportation system to include Electronic Toll Collection (ETC) technology. As the co-formulator of several transportation technology national standards, the Company owns software copyrights for 88 software products and has won 5 of the 10 model cases sponsored by the PRC Ministry of Communications. The Company's affiliation with Peking University provides the Company access to the University's GeoGIS Research Laboratory, including over 30 Ph.D. researchers. As a result, the Company is playing a key role in setting the standards for electronic transportation information solutions. For more information, please visit the Company's website at http://www.chinatransinfo.com .
Safe Harbor Statement
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For more information, please contact: Company Contact: China TransInfo Technology Corp. Ms. Fan Zhou, Investor Relations Director Email: email@example.com Phone: +86-10-5169-1657 Investor Relations Contact: CCG Investor Relations Web: http://www.ccgirasia.com Mr. Shaun Smolarz, Financial Writer Email: firstname.lastname@example.org Phone: +1-646-701-7444 Mr. Crocker Coulson, President Email: email@example.com Phone: +1-646-213-1915
SOURCE China TransInfo Technology Corp.