SHENZHEN, China, June 8, 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 strategic agreement with Shenzhen HiHi Mobile Internet Technology Co., Ltd. ("Shenzhen HiHi") to provide new media solutions at certain airports in China. According to the agreement, CNIT will collaborate with Shenzhen HiHi to provide cloud-based services catering to business travelers and to provide innovative and targeted advertising services.
The CNIT-Shenzhen HiHi airport new media model was developed to seamlessly integrate media contents and advertising. Synchronizing the playback of high-definition video streaming across different terminals ensures that travelers can view real-time travel information and media contents anywhere in the airport. Through connecting airport media with personal mobile devices, travelers can access useful travel information and participate in interactive programs while waiting for their flights.
CNIT and Shenzhen HiHi are providing their new media services on a preliminary basis at three major airports - Kunming Changhsui International Airport, Shenzhen Bao'an International Airport and Tianjin Binhai International Airport, and expect to expand this service to up to 30 major airports in China over the next three years. Data from China Industry Information Web shows that advertising revenue at Chinese airports increased from $1.2 billion in 2009 to $2.2 billion in 2013, and is expected to further increase to $3.8 billion by 2018.
Mr. Xufeng Yang, Chairman and CEO of Shenzhen HiHi, commented, "We are pleased to partner with CNIT on the airport new media project. CNIT provides advanced Internet platforms and products to allow companies to improve advertisement effectiveness and better engage its target audiences."
Mr. Jiang Huai Lin, Chairman and CEO of CNIT, commented, "Shenzhen HiHi has a proven track record in applying mobile Internet technologies to airport media. We are pleased to work with them to roll out our joint new media offerings in major airports in China. We believe the airport new media model creates a new lifestyle service that includes highly targeted advertising opportunities. By combing our technical know-how and our partner's industry experience, we aim to create value for air travelers and the airport advertising industry."
Headquartered in Shenzhen, Shenzhen HiHi is a new media company that combines traditional airport media with the latest mobile Internet technologies. With dedicated research and development teams in Tianjin, Shenzhen and Kunming, Shenzhen HiHi specializes in Internet services that connect digital displays at airports with mobile devices to provide information and lifestyle services to air travelers.
About China Information Technology, Inc.
China Information Technology, Inc. ("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.
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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