FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Treasury Wine Estates Shares Surge After U.S. Dispute Settlement and Earnings Upgrade 
Salesforce Workforce Reduction Affects Fewer Than 1,000 Roles Amid Ongoing Restructuring 
Innovent Biologics Shares Rally on New Eli Lilly Oncology and Immunology Deal 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Anta Sports Expands Global Footprint With Strategic Puma Stake 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Macquarie Group Shares Jump as Third-Quarter Trading Conditions Improve Across Key Units 
Alphabet Plans Rare 100-Year Sterling Bond to Fund AI Expansion 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
DBS Expects Slight Dip in 2026 Net Profit After Q4 Earnings Miss on Lower Interest Margins 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
SHENZHEN, China, Feb. 26, 2018 -- China Information Technology, Inc. (Nasdaq: CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, announced that it has entered into a contract for the sale of 3,000 CNIT cloud-based elevator ad terminals to be installed in office buildings and residential communities throughout Heze, a fast-growing prefecture-level city in southwestern Shandong Province.
Signed with Heze Taoping IoT Technology Limited, the contract is expected to generate sales and service revenue to CNIT of about $1 million. Today's news is the twenty-first in a series of announcements since May of 2017 on CNIT's sales of its cloud-based ad terminals. Each of the contracts - which range in value from $0.5 to $3 million - is also expected to generate recurring revenue from customers' use of the company's Yunfa advertising distribution system and Taoping ad screen sharing platform.
"Heze is a hub city connecting four provinces in the northeast of China." said Chairman and CEO Mr. Jianghuai Lin. "The contract in Heze is another success following CNIT’s $1 million contract in Fujian province this February. This contract will continue expanding marketing influence of CNIT and accelerate our implementation plan in 2018. In addition, the innovation of Taoping new-media ecosystem has proven to be the major drive for the market expansion of our cloud-based products and solutions in the fast-growing advertising industry of China.” Mr. Lin added.
Mr. Lin reiterated that by 2018, the Company expects to sell an additional 120,000 cloud-based ad terminals with market penetration in 100 cities with coverage for 200 million people throughout China.
About China Information Technology, Inc.
China Information Technology, Inc. (CNIT) is a leading Internet service company that provides integrated cloud-based solutions enabling innovation and smart living in the fields of new media, elevator safety management, education, etc. Through continuous innovation, CNIT is aiming to leverage 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.
For further information, please contact: China Information Technology, Inc. Iris Yan Tel: +86-755-8370-4767 Email: [email protected] http://www.chinacnit.com or Dragon Gate Investment Partners LLC Tel: +1(646)-801-2803 Email: [email protected]
