SHENZHEN, CHINA / ACCESSWIRE / August 30, 2017 / China Information Technology, Inc. (NASDAQ: CNIT), a provider of cloud-app-terminal technology for internet-based ad distribution and ad display terminal sharing systems in China, today said it has entered into a strategic partnership agreement with advertising agency Shenzhen Taoping New-Media Limited, and AMTT Digital Service Group, China's largest hotel internet service operator serving one million hotel rooms and over 3,000 premium hotels and resorts across the world.
Under the agreement, AMTT will act as the sole distributor for CNIT's three-part bundled product comprising the company's cloud-based display terminals, Yunfa advertising distribution system, and Taoping ad screen sharing platform. AMTT will market this bundled product to tens of thousands of star-rated hotels, resorts and serviced apartments throughout China. Shenzhen Taoping and AMTT will co-market the product to the nation's hotel advertising industry.
The first step of the partnership calls for AMMT to install approximately 30,000 CNIT cloud-based elevator ad terminals at AMTT's current and potential customer hotels as well as integrate those facilities' existing 5,500 display terminals in conference rooms, ballrooms and lobbies into CNIT's cloud-based network via CNIT's proprietary Taoping USB device.
This will be followed by AMMT's marketing of CNIT's three-part bundled product to three-star and higher hotels in leading commercial sectors of China.
"This agreement ranks as one of the most important we have ever signed," said CNIT chairman and CEO Mr. Jianghuai Lin. "With AMTT's enormous reach and influence in the hotel and resort industry, both in China and across the globe, we are optimistic this collaboration will produce significant advances for CNIT for years to come."
Although a revenue estimate for the partnership is not yet available, Mr. Lin said he believed the figure would be "highly substantial" by next year.
The CEO added that he expects to make additional announcements on this collaboration and on "other positive company events" in the near future.
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.
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.
For further information, please contact:
China Information Technology, Inc.
Iris Yan
Tel: +86-755-8370-4767
Email: [email protected]
http://www.chinacnit.com
or
Eisenberg Communications
Jimmy Caplan
Tel: +512-329-9505
Email: [email protected]
Media Relations:
Rick Eisenberg
Tel: +212-496-6828
Email: [email protected]
SOURCE: China Information Technology, Inc.