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As of 8:10 PM 11/26/14 All times are local (Market data is delayed by at least 15 minutes).

china information technology (CNIT) Key Developments

China Information Technology, Inc. Enters into Five-Year Leasing and Service Contract

China Information Technology, Inc. announced that it has entered into a five-year leasing and service contract to install the company's cloud-based digital display terminals at the Changsha Huanghua International Airport and provide relevant services. Under the contract, the Company will receive recurring monthly fees that include display terminal rental and platform service fees. Through the CNIT Cloud-App-Terminal (CAT) transportation platform, the advertising agency client can manage all of its ad contents on the digital display terminals wirelessly. To be installed by December 2014, each of the digital display terminals is equipped with a 50-inch vertical screen and a 42-inch horizontal screen. These dual-screened terminals will display high-definition advertisement and public information near security checkpoints at the airport. Serving Changsha and nearby cities in Hunan province, the Changsha Huanghua International Airports is a regional transportation hub in central China and one of the major airports in China.

China Information Technology and Tianjin Pengfeng Establish Automobile New Media Platform

China Information Technology said that together with Tianjin Pengfeng Investment it is establishing an automobile new media platform. CNIT will install its cloud-based new media terminals inside the automobile 4S stores and franchise stores operated by Pengfeng and a small number of existing third-party media terminals at the stores will also be connected to the CNIT automobile new media platform. Through the platform, car dealers can upload, edit and display advertisement and automobile related information on networked media terminals.

China Information Technology, Inc. Signs Major Contract to Install New Media Terminals in Hunan Province

China Information Technology, Inc. announced that it has signed a major contract to install 20,000 units of the Company's new media terminals on behalf of the Hunan provincial government. Reoccurring monthly revenue from each new media terminal is expected to range from RMB 60 to RMB 200, depending on terminal model and location. Such revenue includes both hardware lease and software and platform service fee. These new media terminals are expected to be installed over the next three years and will display advertisement and public legal information. Integrating the Company's public information platform and high definition display, the CNIT new media terminals centrally manage all advertisement contents over the cloud and provide the latest government and legal information to the target audience in real time. Compared with traditional media such as outdoor ads, newspaper, radio and television, the CNIT new media terminals are superior in that they incur lower operating cost, disseminate up-to-date information and engage the audience more effectively. CNIT signed an agreement with a leading media agency authorized by the Hunan Provincial Legal Affairs Division to install the Company's new media terminals in the following cities and district - Shaoshan City, Changsha City, Hengyang City, Shaoyang City, Chenzhou City, Xiangyin County, and Hongjiang District. Consisting of 114 units, the first batch of new media terminals will be installed inside conference rooms, elevators, and near service windows of various government agencies. Over the next three years, the Company expects to install a total of 20,000 units of new media terminals in Hunan Province, covering airports, hotels, piers, railway and high-speed railway stations, shopping malls and other high-traffic venues.

China Information Technology, Inc. Appoints Robin Yang as Chief Financial Officer

China Information Technology, Inc. announced the appointment of Ms. Robin Yang as its Chief Financial Officer effective immediately. Robin brings 15 years of buy-side and sell-side experience in U.S. capital markets. Previously, Robin was the Director of Research at Harbert Management Corporation, where she led the investment idea generation for its global emerging market fund. Prior to that, Robin was a senior analyst at Jayhawk Capital, where she co-managed the firm's China mutual fund and conducted bottom-up investment research for the firm's China hedge fund and private equity fund.

China Information Technology, Inc. Enters into Leasing Agreement with Advertising Agency in China for Installation of 23 Cloud-Based New Media Terminals

China Information Technology, Inc. announced that it has installed 23 cloud-based new media terminals at Beijing South Railway Station. The installation is done through a leasing agreement with a advertising agency in China. Under the agreement, the advertising agency will pay the company recurring monthly fees that include terminal rental and platform management fees. Through the company's Cloud-App-Terminal (CAT) transportation platform, the advertising agency will be able to manage all of its ads contents on the CNIT new media terminals remotely and wirelessly. New media terminals display high-definition and multimedia ads and public information such as train schedule and gate assignments on a real-time basis.

 

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