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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]
