Taoping Inc. (NASDAQ:TAOP)

SHENZHEN, China, June 30, 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 entered into a five-year strategic agreement with Guizhou Dianxian Media Co., Ltd. ("Dianxian Media") to install 10,000 units of the CNIT elevator new media terminals in Guiyang, Zunyi and other major cities of Guizhou Province.

According to the agreement, the Company will provide comprehensive new media solutions including the elevator new media platform, Cloud Nest data analytics, and 21.5-inch CNIT elevator new media terminals. Dianxian Media will be responsible for the marketing and operation of the elevator new media suites, and assist in the installation of the terminals. Half of the terminals will be sold to Dianxian Media, and the other half will be rent to it, in either ways, the Company will receive monthly platform service fee from Dianxian Media.

Mr. Jiang Huai Lin, Chairman and CEO of CNIT, commented, "We are pleased to partner with Dianxian Media to bring our elevator new media solutions to Guizhou Province. With robust client base and professional team, Dianxian Media is a leading player in the Chinese advertising space. This partnership demonstrates that our end-to-end new media solutions continue to gain traction. We look forward to winning more market share and helping to reshape the industry landscape with our innovative solutions."

According to its official introduction, Dianxian Media, established in 2006, operates a variety of advertising business for highway billboard, buses, outdoor LED large screens, and building video streaming. Dianxian Media ranked No. 1 in terms of advertisement volume for three years in a row in Guizhou Province. In 2014, Dianxian Media achieved revenues of RMB130 million.