SHENZHEN, China, November 3, 2014 /PRNewswire/ — China Information Technology, Inc. (the “Company”) (Nasdaq GS: CNIT), a leading provider of end-to-end cloud-based platform, exchange, and big data solutions to the Chinese new media industry, today announced that it has formed an indirectly wholly owned Chinese subsidiary, Taoping Net Company, to construct China’s largest online exchange for out-of-home advertisement resources. Taoping Net pairs small-and-medium enterprise (SME) corporate advertisers seeking marketing campaigns with owners of networked 21-to-75 inch digital display media terminals.
“Overlooked for nearly a decade, the digital advertising display market beyond the entrenched ecosystem in commercial and residential locations is not only huge but also highly fragmented. Offering more time options in more locations, the Taoping platform aims to transform the ad placement experience by creating an Offline-to-Online (O2O) Peer-to Peer (P2P) platform that enables advertisers to customize their advertising campaigns to better target potential audience at affordable and flexible rates. At the same time, display terminal owners can better utilize their digital display resources and maximize their income,” said Mr. Jianghuai Lin, Chairman and CEO of the Company. “We strongly believe that creating more placement choices at the right time and at the right place will improve advertisement effectiveness and benefit advertisers, digital display terminal owners, and the audience.”
Leveraging on the Company’s proprietary Cloud-App-Terminal (CAT) model and cloud-based digital display terminals, the Taoping platform features an emphasis on accurate ad placement and a standardized user interface. Through the Taoping platform, advertisers select from a network of digital display terminals that are wirelessly connected to the CNIT cloud interface and identify displays that precisely match their needs on verticals including city, venue, and time slot. After payment, advertisers upload and edit the ad content from their desktop or mobile devices and complete the ad placement process. In addition to the CNIT self-developed display terminals, the Taoping platform also facilitates the display of advertisement and public information through contracted third-party digital display terminals. The local government and CNIT will handle content review and approval prior to broadcasting.
“Since we commenced our strategic transition, we believe CNIT has established itself as a leading software solution provider for the new media industry in China. Digital media advertisement continues to grow rapidly given the ongoing trend in mobile technology and the evolving needs and expectations of Chinese consumers. More targeted ad placement will remain a challenging marketing issue for businesses to compete effectively. Through the Taoping platform and our advanced new media offerings, we hope to make ad placement intuitive and easy for all businesses,” Mr. Lin concluded.
About China Information Technology, Inc.
Headquartered in Shenzhen, China Information Technology, Inc. provides integrated cloud-based platform, exchange, and big data solutions to the Chinese new media industry. The Company’s ecosystem enables ad buyers and sellers to seamlessly manage the entire advertisement lifecycle and exchange media resources. Based on its proprietary Cloud-App-Terminal (CAT) model, the Company has created an integrated cloud-based new media platform, which supports its online advertisement exchange platform Taoping Net and related big data value-added services. These strategic initiatives are forming an extensive and diversified CNIT ecosystem and laying a solid foundation for a sustainable business. 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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