SHENZHEN, China, June 24, 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 has entered into a strategic agreement with the Linyi ("Linyi") municipal government of Shandong province to implement the "CNIT Internet + Smart Linyi" project.
According to the agreement, CNIT will leverage its proprietary Cloud-App-Terminal (CAT) technology and Cloud Nest data analytics to upgrade and transform the business models of various industries from education, elevators and healthcare to new media in Linyi.
Specific projects of "CNIT Internet + Smart Linyi" include the following:
Smart Education will establish a regional platform to provide various interactive services throughout the education process. Smart Healthcare will resolve the long waiting time problem for patients and connect with hospitals' digital systems to provide full-service online healthcare. Smart City E Stop will provide an information distribution channel for the municipal government and daily services such as banking, employment, package delivery and payment. Smart Elevator will collect and transmit elevator operational data to the Bureau of Quality Supervision of the municipal government and elevator maintenance companies, enabling online elevator management, provide emergency support and create advertisement opportunities.
The Linyi municipal government will provide rent-free office space to CNIT and facilitate the registration with the local Administration for Industry and Commerce and the Tax Bureau. The municipal government will also confer preferential policies on CNIT in talent recruitment and tax benefits.
Mr. Lin Jiang Huai, CEO and Chairman of CNIT, said, "We are pleased to expand our 'CNIT Internet + Smart City' project to Linyi. Straddling both the Yangtze River Delta Economic Circle and the Bohai Economic Circle, Linyi projects strong socioeconomic influence on its surrounding regions. We expect to leverage our penetration in Linyi to expand the market share of our Internet plus businesses."
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.