CNIT Signs $1 Million Cloud-based Ad Terminal Contract for Shandong Province
 
Aug 13, 2017
Category:

SHENZHEN, China, August 10, 2017 - China Information Technology, Inc. (Nasdaq:CNIT), a provider of cloud-app technologies for internet-based ad distribution and ad screen sharing systems in China, today said it has entered into a contract for the sale of 3,000 CNIT cloud-based ad terminals to be installed in office buildings, residential communities, shopping malls and various outdoor locations by year-end throughout Shandong, the nation's third largest provincial economy.

Signed with advertising agency Shandong Taoping IoT Limited, the contract is expected to generate sales and service revenue to CNIT of about $1 million by the end of this year.

The 3,000 terminals will include a built-in module, Property Management Assistant, a value-added service allowing property management companies to publicize certain information to specific blocks of ad terminals and receive feedback via the terminals from local residents.

Today's news is the seventh announcement since May on CNIT's sales of its cloud-based ad terminals. Each of the contracts is also expected to generate additional revenue from customers' use of Yunfa Net (www.cnitiot.com), CNIT's cloud-based system allowing an advertiser to create reduced-cost ads on a PC or mobile app, transmit these ads to the elevator ad terminals of their choice, and receive feedback from the terminals on how viewers are responding to the ads.

"This sale - our first ad terminal sale in Shandong - furthers the east China market penetration we achieved with earlier contracts for Shanghai, Anhui and Fujian," said chairman and CEO Mr. Jianghuai Lin.

"As one of China's major economic centers, Shandong will likely be a fertile business region for CNIT and move us closer toward our goal of selling at least 60,000 cloud-based ad terminals with market coverage of 100 million people in 20 major provinces or municipalities this year."

The CEO said he expected to announce additional sales contracts "in the near future."

For further information, please contact:
China Information Technology, Inc.
Iris Yan
Tel: +86-755-8370-4767
Email: IR@chinacnit.com
or
Eisenberg Communications
Jimmy Caplan
Tel: +512-329-9505
Email: jimmycaplan@me.com

Media Relations:
Rick Eisenberg
Tel: +212-496-6828
Email: eiscom@msn.com

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