SHENZHEN, China, June 30, 2015 /PRNewswire/ -- China Information Technology, Inc. (the "Company" or "CNIT") (Nasdaq GS: CNIT), a leading provider of integrated cloud-based platform, exchange, and big data solutions in China, today announced that the Company entered into a five-year strategic agreement with Guizhou Dianxian Media Co., Ltd. ("Dianxian Media") to install 10,000 units of the CNIT elevator new media terminals in Guiyang, Zunyi and other major cities of Guizhou Province.
According to the agreement, the Company will provide comprehensive new media solutions including the elevator new media platform, Cloud Nest data analytics, and 21.5-inch CNIT elevator new media terminals. Dianxian Media will be responsible for the marketing and operation of the elevator new media suites, and assist in the installation of the terminals. Half of the terminals will be sold to Dianxian Media, and the other half will be rent to it, in either ways, the Company will receive monthly platform service fee from Dianxian Media.
Mr. Jiang Huai Lin, Chairman and CEO of CNIT, commented, "We are pleased to partner with Dianxian Media to bring our elevator new media solutions to Guizhou Province. With robust client base and professional team, Dianxian Media is a leading player in the Chinese advertising space. This partnership demonstrates that our end-to-end new media solutions continue to gain traction. We look forward to winning more market share and helping to reshape the industry landscape with our innovative solutions."
According to its official introduction, Dianxian Media, established in 2006, operates a variety of advertising business for highway billboard, buses, outdoor LED large screens, and building video streaming. Dianxian Media ranked No. 1 in terms of advertisement volume for three years in a row in Guizhou Province. In 2014, Dianxian Media achieved revenues of RMB130 million.
About China Information Technology, Inc.
China Information Technology, Inc. (Nasdaq GS: CNIT) is on a mission to make advertising accessible and affordable for businesses of all sizes. CNIT is a leading Internet service company that 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 leveraging 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.