SHENZHEN, China, April 10, 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 signed a strategic agreement with the Luoyang municipal government to install 300 units of the CNIT cloud-based digital display terminals at Central Business District ("CBD") and transportation hubs of Luoyang City as part of the preparation for the city’s 2015 Annual Peony Festival (the "Festival"), which is held from April 4 to May 5, 2015.
According to the agreement, the Company will install 300 units of its large-scale, cloud-based digital displays at high-traffic venues such as the Peony Festival venues, airports, highs-speed railway stations, bus stops, hotels and department stores. During the month of the Festival, the terminals will broadcast festival highlights, various programs on city sightseeing, sports contests, exhibitions and trade shows, as well as CNIT corporate videos and third-party paid advertisements.
As the sole winner of the naming right to the Festival and host to its opening ceremony, CNIT will benefit from extensive promotion of its corporate logo and videos over a variety of media outlets including Henan Television, Luoyang Television, festival tickets and playbills, and chinapeony.net, lyd.com.cn, and partner sites to the Peony Festival.
"We are pleased to leverage our innovative Cloud-App-Terminal (CAT) new media solutions to promote the prestigious Annual Peony Festival," said Mr. Jiang Huai Lin, Chairman and CEO of the Company. "Through collaborating with the Festival, we also enhance the influence and reputation of the CNIT brand to a wider audience at home and abroad. Going forward, we plan on working closely with the Luoyang municipal government to roll out our new media solutions in tourism, cultural exchange and media industries. We expect to install up to 20,000 units of CNIT new media terminals in Luoyang city over the next two years and further expand to other major cities."
Luoyang, the ancient capital of 13 dynasties in China, has thousands of years of historical and cultural heritage. Since 1983, the Annual Luoyang Peony Festival has been selected as one of China’s Intangible Cultural Heritages, and is held each year from April to May. A state-level cultural event that combines cultural exchange, trade shows and tourism, the Festival has evolved into an ideal stage for corporate branding and promotion. Nearly 20 million visitors attended the 2014 Festival. In 2015, China’s internet powerhouse Tencent will develop a tailor-made marketing campaign for Luoyang to promote the Festival to addressable market of up to 1 billion viewers.
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. 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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