Taoping Inc. (NASDAQ:TAOP)

SHENZHEN, China, May 22, 2018 (GLOBE NEWSWIRE) -- China Information Technology, Inc. (CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, today announced that Taoping Alliance, a new media operating organization founded by CNIT and Shenzhen Taoping New-Media Limited, is vertically penetrating into the nationwide county-level market.

Covering Fujian, Jiangsu, Shanxi, Hubei, and Guangdong province, Taoping Alliance takes the lead in the nationwide county-level market that includes Jinjiang, Shishi, Anxi, Dehua, Yongchun, Nanan, Hui'an, Zhangjiagang, Jixian, Macheng, and Huidong city. Since its establishment in May 2017, the members of Taoping Alliance have increased to fifty-one and the coverage is over twenty-two provinces and provincial cities throughout China.

“Taoping Alliance as the first-mover to enter the county-level market is the result of continuing to deepen the market cultivation and development after it has completed the layout of core provinces and cities,” said Mr. Jianghuai Lin, Chairman and CEO of CNIT, “Taoping Chain 3.0 provides an easy and effective way for consumers to interact with brands on the terminal. It brings more transaction opportunities to advertisers, which in return greatly increase their willingness to deliver ads through Taoping App.”

Taoping Net, launched in January 2018, integrates the national screen resources into the online market to provide advertisers with a one-stop online ad distribution service. By scanning the QR code on the cloud-based ad terminal, consumers can divert offline ad to his/her online mobile phone and receive coupons or messages from the brands directly. This engaging interaction enables the consumer to access the brand’s promotion easily and efficiently. Based on Taoping Chain 3.0, the system connects each party in the chain and builds up a “Smart IoT Terminal - Cloud Services - Taoping Web” media ecosystem to ultimately achieving the mission of “our technology makes advertising and branding affordable and effective for everyone.”

SHENZHEN, CHINA / ACCESSWIRE / May 17, 2018 / China Information Technology, Inc. (CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, announced that it has entered into contracts for the sales of 3,000 CNIT cloud-based elevator ad terminals to be installed in office buildings and residential communities throughout two prefecture-level cities Qingyuan, a major economic and transportation hub of Guangdong Province and Qujing, an important industrial and commercial city of Yunnan Province in China.

Signed with Qingyuan Taoping IoT Technology Limited ("Qingyuan Taoping") and Qujing Taoping IoT Limited ("Qujing Taoping"), the contracts are expected to generate sales and service revenue to CNIT of about $1 million. Today's news is the thirtieth in a series of announcements since May of 2017 on CNIT's sales of its cloud-based ad terminals. Each transaction is expected to generate recurring service and commission revenue from customers' use of the Company's Yunfa advertising distribution system and Taoping Net/ App ad screen sharing platform.

Qingyuan Taoping and Qujing Taoping have recently joined the Taoping Alliance, a nationwide advertising resource sharing platform jointly founded by CNIT and Shenzhen Taoping New-Media Limited, as the thirty-ninth and the fortieth members. Since its establishment in May 2017, the members of Taoping Alliance have increased to the coverage of over twenty-two provinces and provincial cities throughout China.

"We are glad that Qingyuan Taoping and Qujing Taoping have officially joined Taoping Alliance," said Mr. Jianghuai Lin, the Chairman and CEO of CNIT, "Located in northern Guangdong Province on the banks of the North River, the maritime infrastructure in Qingyuan plays a vital role in transporting goods to other regional centers in Guangdong, Hong Kong and Macao. Qujing, the second largest city in Yunnan regarding economic strengths is also called Throat of Yunnan. The expansion of Taoping Alliance's network into the prefecture-level cities indicates that CNIT is striving to meet the large demand from the market and bringing values to the regional stakeholders."

Mr. Lin reiterated that by 2018, the Company expects to sell an additional 120,000 cloud-based ad terminals with market penetration in 100 cities with coverage for 200 million people throughout China.

SHENZHEN, CHINA / ACCESSWIRE / May 8, 2018 / China Information Technology, Inc. (CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, announced that it has entered into a contract for the sale of 5,000 CNIT cloud-based elevator ad terminals to be installed in office buildings and residential communities throughout Guiyang, the capital of Guizhou province of Southwest China.

Signed with Guizhou Taoping IoT Limited ("Guizhou Taoping"), the contract is expected to generate sales and service revenue to CNIT of about $1.6 million. Today's news is the twenty-ninth in a series of announcements since May of 2017 on CNIT's sales of its cloud-based ad terminals. Each sale is expected to generate recurring service and commission revenue from customers' use of the Company's Yunfa advertising distribution system and Taoping (淘屏) Net/ App ad screen sharing platform.

Guizhou Taoping has recently joined the Taoping Alliance, a nationwide advertising resource sharing platform jointly founded by CNIT and Shenzhen Taoping New-Media Limited, as the thirty-eighth member. Since its establishment in May 2017, the members of Taoping Alliance have increased to the coverage of over twenty provinces and provincial cities throughout China.

"Guiyang is the economic and commercial hub of Guizhou Province," said Mr. Jianghuai Lin, the Chairman and CEO of CNIT, "We are pleased that Guizhou Taoping has officially joined Taoping Alliance, which indicates that the rising market demand for our services. With more members joining in and the increasing scale of our IoT network of cloud-based ad terminals, Taoping new media ecosystem is rapidly growing in the emerging new media industry, which is expected to bring important sustainable revenue to the Company in the near future."

Mr. Lin reiterated that by 2018, the Company expects to sell an additional 120,000 cloud-based ad terminals with market penetration in 100 cities with coverage for 200 million people throughout China.

SHENZHEN, China, May 02, 2018 (GLOBE NEWSWIRE) -- China Information Technology, Inc. (Nasdaq: CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, announced that it has entered into a contract for the sale of 3,000 CNIT cloud-based elevator ad terminals to be installed in office buildings and residential communities throughout Guilin, a prefecture-level city in the northeast of China, and Yichang, the second largest city in the province after the capital, Wuhan.

Signed with Guilin IoT Technology Limited (“Guilin Taoping”) and Yichang Taoping IoT Limited (“Yichang Taoping”), the contracts are expected to generate sales and service revenue to CNIT of about $1 million. Today’s news is the twenty-eighth in a series of announcements since May of 2017 on CNIT’s sales of its cloud-based ad terminals. Each sale is expected to generate recurring service and commission revenue from customers' use of the Company’s Yunfa advertising distribution system and Taoping (淘屏) Net/ App ad screen sharing platform.

Guilin Taoping and Yichang Taoping have recently joined the Taoping Alliance, a nationwide advertising resource sharing platform jointly founded by CNIT and Shenzhen Taoping New-Media Limited, as the thirty-sixth and thirty-seventh members. Since its establishment in May 2017, the members of Taoping Alliance have increased to the coverage of over twenty provinces and provincial cities throughout China.

“The contract with Guilin Taoping is the fifth contract following CNIT’s  $0.5 million contracts in Baise, Guangxi Autonomous Region this March, and the follow-on contract with Yichang is another success following CNIT’s $0.5 million contracts in Huanggang City in Hubei Province in August 2017, ” said Mr. Jianghuai Lin, the Chairman and CEO of CNIT, “Guilin Taoping and Yichang Taoping as the newly joined members in Taoping Alliance, indicate that it has vertically penetrated and horizontally broadened the Taoping new media eco-system.”

Mr. Lin reiterated that by 2018, the Company expects to sell an additional 120,000 cloud-based ad terminals with market penetration in 100 cities with coverage for 200 million people throughout China.

SHENZHEN, CHINA / ACCESSWIRE / April 16, 2018 / China Information Technology, Inc. (CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, announced that it has entered into a contract for the sale of 5,000 CNIT cloud-based elevator ad terminals to be installed in office buildings and residential communities throughout Anhui province, located across the basins of the Yangtze River and the Huai River.

Signed with Anhui Taoping Culture and Media Limited ("Anhui Taoping"), the contract is expected to generate sales and service revenue to CNIT of about $1.6 million. Today's news is the twenty-seventh in a series of announcements since May of 2017 on CNIT's sales of its cloud-based ad terminals. Each sale is expected to generate recurring service and commission revenue from customers' use of the Company's Yunfa advertising distribution system and Taoping (淘屏) Net/ App ad screen sharing platform.

Anhui Taoping Culture and Media Limited has recently joined the Taoping Alliance, a nationwide advertising resource sharing platform jointly founded by CNIT and Shenzhen Taoping New-Media Limited, as the thirty-fourth member. Since its establishment in May 2017, the members of Taoping Alliance have increased to the coverage of over 20 provinces and provincial cities throughout China. Anhui Taoping will manage the implementation and operation of CNIT cloud-based ad terminals in prefecture-level cities in the Anhui Province.

"The follow-on contract in Anhui Province is a proven success following CNIT's $1 million contract in June 2017," said Mr. Jianghuai Lin, the Chairman and CEO of CNIT, "Anhui Taoping, as a newly joined member in Taoping Alliance, indicates that the Taoping new media eco-system will radiate to a larger and deeper market and bring values to the clients, with our continuing progress to make excellent movement around technology, innovation, media and digital advertising industry."

Mr. Lin reiterated that by 2018, the Company expects to sell an additional 120,000 cloud-based ad terminals with market penetration in 100 cities with coverage for 200 million people throughout China.

SHENZHEN, CHINA / ACCESSWIRE / March 29, 2018 / China Information Technology, Inc. (CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, today announced its financial results for the year ended December 31, 2017.

Fiscal Year 2017 Financial Highlights

- Revenue was $18.2 million, an increase of 78.4%, compared to $10.2 million for the year ended December 31, 2016.

- Gross profit as a percentage of revenue was 45.8%, increased from 25.7% for the year ended December 31, 2016.

- Net income attributable to the Company was $0.9 million, or $0.02 per share, compared to a net loss of $18.2 million, or ($0.45) per share for the year ended December 31, 2016.

- Excluding non-cash items, adjusted net income was $4.9 million, or $0.12 per share, compared to an adjusted net loss of $8.6 million, or ($0.21) per share, for the year ended December 31, 2016.

Fiscal Year 2017 and Recent 2018 Operational Highlights

- In 2017, the Company has completed business transformation to a leading products and services provider of Cloud-Application-Terminal (CAT) and IoT technology based digital advertising distribution network and new media resource sharing platform in the Out-of-Home Advertising Market in China.

- From May 2017, CNIT has rolled out and offered interactive ads display terminals, digital ads distribution system, and advertising resource sharing platform to the customers in the private sector. The company's cloud-based ad terminals are widely received by the market. Since May 2017, the Company has entered into 26 contracts for the sale of 91,000 CNIT cloud-based ad terminals, which are expected to generate sales and service revenue of about $29.1 million.

- Launched Taoping Net and Taoping App. Taoping Net provides an advertising- resources trading service platform which connects screen owners, advertisers and consumers. Taoping App, which enables customers to distribute and manage ads from mobile terminals, effectively satisfies the need to distribute fragmented ads.

- The Company's innovation of Taoping new-media ecosystem has proven to be the major driver for the market expansion of CNIT's cloud-based products and solutions in the fast-growing advertising industry of China. CNIT has started to penetrate the cloud advertising market from China's first-tier city to smaller ones.

"We're glad to see our strong market performance and financial improvements in 2017," said Mr. Jianghuai Lin, Chairman and CEO of CNIT. "As our new business model proven successful and sustainable, we believe that 2018 will be another booming year for CNIT. We are expecting to sell an additional 120,000 cloud-based ad terminals by 2018, reaching over 200 million people in 100 cities throughout China."

The CEO reiterated the Company's financial projection for fiscal year of 2018 and 2019 - revenue in 2018 is expected to range from $30 to $33 million, with adjusted net income of $9 to $11 million, and revenue in 2019 is expected to be between $55 and $60 million, with adjusted net income of $20 to $23 million.

SHENZHEN, China, March 26, 2018 (GLOBE NEWSWIRE) -- China Information Technology, Inc. (CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, announced that it has entered into a contract for the sale of 3,500 CNIT cloud-based elevator ad terminals to be installed in office buildings and residential communities throughout Zhangzhou, a prefecture-level city for 2,000 terminals and Longyan, the junction center of three provinces for 1,500 terminals, in the international shipping intersection Fujian Province.

Signed with Zhangzhou Taoping IoT Technology Limited and Longyan Taoping IoT Technology Limited, the contracts are expected to generate sales and service revenue to CNIT of about $1.2 million. Today's news is the twenty-fifth in a series of announcements since May of 2017 on CNIT's sales of its cloud-based ad terminals. Each sale is expected to generate recurring service and commission revenue from customers' use of the Company's Yunfa advertising distribution system and Taoping (淘屏) Net/App ad screen sharing platform.

"Zhangzhou and Longyan are the major cities in Fujian Province, bordering Guangdong Province and Jiangxi Province. " said Chairman and CEO Mr. Jianghuai Lin. "The contracts in these two cities are the successful achievements following the previously announced $2 million contracts with a total sale of 6,000 cloud-based ad terminals with Fujian Taoping. It reflects CNIT’s deep market penetration in Fujian Province. With the valuable return that brings to our clients, Taoping new media ecosystem is developing a Taoping network domestically.”

Mr. Lin reiterated that by 2018, the Company expects to sell an additional 120,000 cloud-based ad terminals with market penetration in 100 cities with coverage for 200 million people throughout China.

Fourth Quarter 2017 Financial Results

• Net revenue was $1.11 billion, compared to $912.2 million in the third quarter of 2017, and fourth quarter 2017 guidance in the range of $1.04 billion to $1.08 billion.
• Net income attributable to Canadian Solar in the fourth quarter of 2017 was $61.4 million or $1.01 per diluted share, compared to $13.3 million or $0.22 per diluted share in the third quarter of 2017 and a net loss of $13.3 million or $0.23 per diluted share in the fourth quarter of 2016.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar commented, "2017 was an exceptional and milestone year for the PV industry, in which total global new solar installation reached 100 GW for the first time in our history. This demonstrates that solar is quickly approaching grid parity and is penetrating more and more markets. Our revenue, shipments, gross margin and net income all exceeded our expectations for the fourth quarter and full year 2017. Our record-high solar module shipments for the full year 2017 were driven by strong demand from China, India, Europe and the United States. We are also pleased with the impressive project sale momentum we achieved, led by demand for our highly-attractive project assets, which we have carefully built up over the past few years in key markets worldwide. We remain focused on securing a competitive return on all of our project investments; and redeploying the capital received into new project opportunities, while also paying down our debt as we continue to build shareholder value. Our portfolio of solar power plants in operation was approximately 1.2 GWp as of February 28, 2018, with an estimated total resale value of approximately $1.5 billion. Our portfolio of late-stage solar power projects, as of February 28, 2018, including those in construction, totaled approximately 2.0 GWp giving us added visibility and confidence."

Dr. Huifeng Chang, Senior Vice President and Chief Financial Officer of Canadian Solar, added: "We benefitted from the higher margin contribution from the sale of 72.7 MWp of solar projects to CSIF in Japan. We are encouraged by our success in monetizing our operating solar power assets globally. This serves as a further validation of the strength of our business model.  We will continue to execute on our strategy to enhance our balance sheet and redeploy our capital to support the profitable growth of our business and build value for shareholders."

SHENZHEN, CHINA / ACCESSWIRE / March 19, 2018 / China Information Technology, Inc. (CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, announced that it has entered into a contract for the sale of 1,500 CNIT cloud-based ad terminals to be installed in office buildings and residential communities throughout Baise, a national highway transport hub in Guangxi Autonomous Region.

Signed with Baise Taoping IoT Technology Limited, the contract is expected to generate sales and service revenue to CNIT of about $0.5 million. Today's news is the twenty-fourth in a series of announcements since May of 2017 on CNIT's sales of its cloud-based ad terminals. Each sale is expected to generate recurring service and commission revenue from customers' use of the Company's Yunfa advertising distribution system and Taoping (淘屏) Net/App ad screen sharing platform.

"Baise is the westernmost city in Guangxi bordering Guizhou province and Yunnan Province," said Chairman and CEO Mr. Jianghuai Lin. "The contract in Baise is another success following CNIT's $0.5 million contract in Hezhou, Guangxi Autonomous Region this March. This contract will strengthen our presence into neighbor provinces. It reflects a high market demand as well as a deep market penetration of our cloud-based ad terminal and solution." he added.

Mr. Lin reiterated that by 2018, the Company expects to sell an additional 120,000 cloud-based ad terminals with market penetration in 100 cities with coverage for 200 million people throughout China.

SHENZHEN, CHINA / ACCESSWIRE / March 13, 2018 / China Information Technology, Inc. (NASDAQ: CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, announced that it has entered into a contract for the sale of 1,500 CNIT cloud-based ad terminals to be installed in office buildings and residential communities throughout Hezhou, a city in Guangxi Autonomous Region connecting three provinces.

Signed with Hezhou Taoping IoT Technology Limited, the contract is expected to generate sales and service revenue to CNIT of about $0.5 million. Today's news is the twenty-third in a series of announcements since May of 2017 on CNIT's sales of its cloud-based ad terminals. Each sale is expected to generate recurring service and commission revenue from customers' use of the Company's Yunfa advertising distribution system and Taoping (淘屏) Net/App ad screen sharing platform.

"Hezhou is an important channel connecting Southwest China to Guangdong-Hong Kong-Macau Bay Area." said Chairman and CEO Mr. Jianghuai Lin. "The contract in Hezhou is another success following CNIT's $0.5 million contract in Yulin, Guangxi Autonomous Region this March. This contract is the result of high market demand in Guangxi Autonomous Region. It reflects a greatly accelerated market expansion for our products and promotes market coverage in the neighboring Guangdong-Hong Kong-Macau Bay Area." he added.

Mr. Lin reiterated that by 2018, the Company expects to sell an additional 120,000 cloud-based ad terminals with market penetration in 100 cities with coverage for 200 million people throughout China.

SHENZHEN, CHINA / ACCESSWIRE / March 6, 2018 / China Information Technology, Inc. (the Company) (CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, announced that it has entered into a contract for the sale of 1,500 CNIT cloud-based ad terminals to be installed in office buildings and residential communities throughout Yulin, a political, economic, and cultural center of the southeastern part of Guangxi Autonomous Region.

Signed with Yulin Taoping IoT Technology Limited, the contract is expected to generate sales and service revenue to CNIT of about $0.5 million. Today's announcement is the Company's second contract of its cloud-based ad terminal for Guangxi, following the $1 million order received in November 2017, and the twenty-second in a series of announcements since May 2017 on CNIT's sales of its cloud-based ad terminals. Each sale is expected to generate recurring service and commission revenue from customers' use of the Company's Yunfa advertising distribution system and Taoping (淘屏) Net/App ad screen sharing platform.

"Yulin is an open coastal economic zone and facing the Southeast Asia." said Chairman and CEO Mr. Jianghuai Lin. "The follow-on contract for Guangxi once again demonstrates the fast-expanding prevalence of our product throughout China. With successful execution of our market strategy in the prior year, proven track record and the new addition of our Taoping new-media ecosystem, CNIT is currently experiencing accelerated market demands for our cloud-based ad terminals and solutions." he added.

Mr. Lin reiterated that by 2018, the Company expects to sell an additional 120,000 cloud-based ad terminals with market penetration in 100 cities with coverage for 200 million people throughout China.

SHENZHEN, CHINA / ACCESSWIRE / February 26, 2018 / China Information Technology, Inc. (CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, announced that it has entered into a contract for the sale of 3,000 CNIT cloud-based elevator ad terminals to be installed in office buildings and residential communities throughout Heze, a fast-growing prefecture-level city in southwestern Shandong Province.

Signed with Heze Taoping IoT Technology Limited, the contract is expected to generate sales and service revenue to CNIT of about $1 million. Today's news is the twenty-first in a series of announcements since May of 2017 on CNIT's sales of its cloud-based ad terminals. Each of the contracts - which range in value from $0.5 to $3 million - is also expected to generate recurring revenue from customers' use of the company's Yunfa advertising distribution system and Taoping ad screen sharing platform.

"Heze is a hub city connecting four provinces in the northeast of China." said Chairman and CEO Mr. Jianghuai Lin. "The contract in Heze is another success following CNIT's $1 million contract in Fujian province this February. This contract will continue expanding marketing influence of CNIT and accelerate our implementation plan in 2018. In addition, the innovation of Taoping new-media ecosystem has proven to be the major driver for the market expansion of our cloud-based products and solutions in the fast-growing advertising industry of China." Mr. Lin added.

Mr. Lin reiterated that by 2018, the Company expects to sell an additional 120,000 cloud-based ad terminals with market penetration in 100 cities with coverage for 200 million people throughout China.

SHENZHEN, China, Feb. 15, 2018 (GLOBE NEWSWIRE) -- China Information Technology, Inc. (CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, announced that it has been added into the LD Micro Index, effective February 1st, 2018.

The LD Micro Index is designed to give the most accurate representation of the intraday activity of microcap stocks in North America. It employs a mixture of screening for inclusion and manual exclusion where deemed appropriate.

The index is market cap weighted and is comprised of approximately 1,014 stocks in the U.S. and Canada with market capitalizations between $50 million and $300 million.

"We are honored to have China Information Technology become one of the newest additions to the LD Micro Index. Management has done a great job over the past year getting the company back to profitability, “stated Chris Lahiji, Founder of LD Micro.

Chairman and CEO Mr. Jianghuai Lin said, "We are very glad that CNIT is exposed to the investors of LD Micro Index. We look forward to building more connections in the capital markets of North America. We wish our shareholders to have a prosperous Chinese New Year in 2018!”

SHENZHEN, CHINA / ACCESSWIRE / February 12, 2018 / China Information Technology, Inc. (CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, announced that it has entered into a contract for the sale of 3,000 CNIT cloud-based elevator ad terminals to be installed in office buildings and residential communities throughout Fujian province, an international shipping intersection in Southeast Asia.

Signed with Fujian Taoping IoT Technology Limited ("Fujian Taoping"), the contract is expected to generate sales and service revenue to CNIT of about $1 million. This is the follow-on contract with Fujian Taoping since the first contract in June 2017. Until now, CNIT and Fujian Taoping have signed two contracts with the total sale of 6,000 CNIT cloud-based ad terminals.

Today's news is the twentieth in a series of announcements since May 2017 on CNIT's sales of its cloud-based ad terminals. Each of the contracts - which range in value from $0.5 to $3 million - is also expected to generate revenue from customers' use of the company's Yunfa advertising distribution system and Taoping ad screen sharing platform.

"The follow-on contract in Fujian is another success following CNIT's $1 million contract in Taizhou this February," said Chairman and CEO Mr. Jianghuai Lin, "It reflects a high market demand as well as a deep market penetration of our cloud-based ad terminal and solution. In addition, we believe that the innovation of Taoping new-media ecosystem will deliver more value to our clients, which in return will greatly accelerate the market expansion for our products ." he added.

Mr. Lin reiterated that by 2018, the Company expects to sell an additional 120,000 cloud-based ad terminals with market penetration in 100 cities with coverage for 200 million people throughout China.

SHENZHEN, CHINA / ACCESSWIRE / February 5, 2018 / China Information Technology, Inc. (CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, announced that it has entered into a contract for the sale of 3,000 CNIT cloud-based ad terminals to be installed in office buildings, residential communities and various outdoor locations throughout Taizhou, a central city of Jiangsu Yangtze River urban agglomeration.

Signed with Jiangsu Tianluo Investment Co., Limited, the contract is expected to generate sales and service revenue to CNIT of about $1 million. Today's news is the nineteenth in a series of announcements since May of 2017 on CNIT's sales of its cloud-based ad terminals. Each of the contracts - which range in value from $0.5 to $3 million - is also expected to generate recurring revenue from customers' use of the company's Yunfa advertising distribution system and Taoping (淘屏) Net/App new-media sharing platform.

"Taizhou is one of the central cities inside the Yangtze River urban agglomeration with a fast-growing economy," said Chairman and CEO Mr. Jianghuai Lin. "The contract in Taizhou is another success following CNIT's $1.5 million contract in Hebei and Liaoning province this January. This contract will strengthen our presence in the Yangtze River economic zone and cast more marketing influences into neighbor provinces," he added.

Mr. Lin reiterated that, by 2018, the Company expects to sell an additional 120,000 cloud-based ad terminals with market penetration in 100 cities with coverage for 200 million people throughout China.

SHENZHEN, CHINA / ACCESSWIRE / January 29, 2018 / China Information Technology, Inc. (CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, today announced that the cloud-based ad terminals for Taoping Net and Taoping (淘屏) App are currently available in fifteen Chinese cities, and is expected to expand to more metropolitan areas in the near future.

The cloud-based ad terminals locate at fifteen Chinese cities, including Shenzhen, Guangzhou, Shanghai, Ningbo, Nanjing, Wuhan, Zhengzhou, Kunming, Quanzhou, Changde, Nanning, Chongqing, Huanggang, Wuhu and Hangzhou.

Taoping Net and Taoping (淘屏) App, enabling consumers to buy and distribute ads wherever and whenever they want on CNIT cloud-based ad terminals. Taoping Net provides an advertising-resources trading service platform connecting screen owners, advertisers and consumers. Taoping (淘屏) App, which enables customers to distribute, manage and monitor ads from mobile terminals, effectively satisfies the need to distribute fragmented ads. CNIT takes a certain amount of commission fee on every transaction Taoping Net and Taoping (淘屏) App makes.

"This market expansion of CNIT terminals for Taoping Net and Taoping (淘屏) App takes us one step further to perfect the Taoping new-media sharing platform, an ecosystem that creates a sharing economy benefiting every participant." said Mr. Jianghuai Lin, Chairman and CEO of CNIT, "With our cloud-based ad terminals expanding to more cities in China, revenue from the commission fee will bring CNIT sustainable future cash flow."

SHENZHEN, China, Jan. 22, 2018 (GLOBE NEWSWIRE) -- China Information Technology, Inc. (CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, today announced that it has initiated in-depth research on the application of blockchain, aiming to innovate the Taoping new-media sharing ecosystem, and to deliver higher returns to Taoping ecosystem partners and users.

CNIT will conduct research on the application of blockchain into the Taoping ecosystem, to find out a more efficient and secure solution for payment transfer, and a better mechanism to collect internal data and reward end users. With the existing loT technology and the future application of blockchain, it is expected that CNIT will be able to upgrade the accuracy of advertising distribution on ad terminals, to improve the users’ experience and ultimately, reinvent the profit distribution mechanism to vertically integrate industry resources.

Consumers can use Taoping Net and Taoping (淘屏) App to buy and distribute real-time ads on more than 10,000 terminals now. The terminals are currently available in ten cities of China, including Shenzhen, Guangzhou, Shanghai, Ningbo, Nanjing, Quanzhou, Changde, Wuhan, Zhengzhou, Kunming, and will soon be accessible in more metropolitan areas. Taoping ecosystem is growing and aims to become one of the largest domestic ecosystems in the advertising industry in the near future.

“We believe that the research on blockchain is a promising opportunity for us,” said Mr. Jianghuai Lin, Chairman and CEO of CNIT, “As the developer and leading operator of the Taoping ecosystem, we keep up with the development of new technologies as we are devoted to keeping upgrading and optimizing our services.”

SHENZHEN, CHINA / ACCESSWIRE / January 3, 2018 / China Information Technology, Inc. (CNIT), a provider of internet-based ad distribution and ad display terminal sharing systems in China, announced that it has entered into a contract for the sale of 5,000 CNIT cloud-based ad terminals to be installed in office buildings, residential communities, shopping malls and various outdoor locations throughout Hebei, a province in the North China region, and Liaoning, a province in Northeast China.

Signed with advertising agency Beijing Taoping IoT Technology Limited, the contract is expected to generate sales and service revenue to CNIT of about $1.5 million. Today's news is the eighteenth in a series of announcements since May of 2017 on CNIT's sales of its cloud-based ad terminals. Each of the contracts - which range in value from $0.5 to $3 million - is also expected to generate revenue from customers' use of the company's Yunfa advertising distribution system and Taoping ad screen sharing platform.

"Hebei province lies in the vital part of North China, it has served as a strategic part in Beijing-Tianjin-Hebei integration. Liaoning province is an important hub for the international trade in Northeast China," said Chairman and CEO Mr. Jianghuai Lin. "The contract in Hebei and Liaoning is another success following CNIT's $1 million contract in Qingdao this December. This contract will cast more market influences in North China," he added.

Mr. Lin reiterated that by 2018, the Company expects to sell an additional 120,000 cloud-based ad terminals with market penetration in 100 cities with coverage for 200 million people throughout China.

SHENZHEN, CHINA / ACCESSWIRE / December 27, 2017 / China Information Technology, Inc. (CNIT), a provider of internet-based ad distribution and ad display terminal sharing systems in China, announced that it has entered into a contract for the sale of 3,000 CNIT cloud-based ad terminals to be installed in office buildings, residential communities, shopping malls and various outdoor locations throughout Qingdao, the economic hub of Shandong province.

Signed with advertising agency Qingdao Taoping IoT Limited, the contract is expected to generate sales and service revenue to CNIT of about $1 million. Today's news is the seventeenth in a series of announcements since May of 2017 on CNIT's sales of its cloud-based ad terminals. Each of the contracts - which range in value from $0.5 to $3 million - is also expected to generate revenue from customers' use of the company's Yunfa advertising distribution system and Taoping ad screen sharing platform.

"Qingdao is the economic hub of Shandong province and the international shipping hub in Northeast Asia," said Chairman and CEO Mr. Jianghuai Lin. "The contract in Qingdao is another success following CNIT's first $1 million contract in Shandong province this August. This contract will create a high-level market coverage in Shandong province and project marketing influences on neighbor provinces," he added.

Mr. Lin reiterated that by 2018, the Company expects to sell an additional 120,000 cloud-based ad terminals with market penetration in 100 cities with coverage for 200 million people throughout China.

SHENZHEN, CHINA / ACCESSWIRE / November 13, 2017 / China Information Technology, Inc. (NASDAQ: CNIT), a provider of internet-based ad distribution and ad display terminal sharing systems in China, today announced that, for the nine months ended September 30, 2017 the Company had revenue of $12.2 million, a 97% increase from revenue of $6.2 million for the nine months ended September 30, 2016. CNIT had net income attributable to the Company of $1.1 million, or $.03 per share, for the nine months ended September 30, 2017, compared to a net loss of $10.1 million, or ($.25) per share, for the nine months ended September 30, 2016.

Excluding non-cash items mainly in the categories of depreciation of fixed assets, amortization of intangible assets, stock-based compensation, provision for obsolete inventories, and provision for bad debt reserve on accounts receivable, the Company had adjusted net income for the nine months ended September 30, 2017 of $3.9 million, or $.10 per share, compared to an adjusted net loss of $4.4 million, or ($.11) per share, for the comparable period a year ago.

"We are proud of CNIT's accomplishments thus far in 2017 and are very excited about our outlook for 2018," said CEO and Chairman Mr. Jianghuai Lin. "In addition to our significant improvement in financial performance, in the third quarter we continued to expand the national market coverage of our new-media sharing product and platform, and signed 8 cloud-based ad terminal and software contracts with a total amount of $10.6 million, which has built a very solid foundation for Q4 and beyond."

The CEO projected that, as a result of these trends, CNIT is confident to achieve its projection of 2017 revenue of $17 to $19 million, and increased the forecast on its adjusted net income to the range of $4.6 to 5.0 million, from the previously predicted $3.2 to $3.6 million.

Revenue in 2018, he said, is expected to range from $30 to $33 million, with adjusted net income of $9 to $11 million.

In 2019, he added, revenue could possibly be between $55 and $60 million, with adjusted net income of $20 to $23 million. Revenue in 2019 is expected to be derived evenly between equipment and services, the latter of which traditionally yields higher profit margins.

SHENZHEN, CHINA / ACCESSWIRE / November 6, 2017 / China Information Technology, Inc. (CNIT), a provider of internet-based ad distribution and ad display terminal sharing systems in China, announced that it has entered into a contract for the sale of 3,000 CNIT cloud-based ad terminals to be installed in office buildings, residential communities, shopping malls and various outdoor locations throughout Guangxi, a province on China's southwest frontier.

Signed with advertising agency Guangxi Taoping IoT Technology Limited, the contract is expected to generate sales and service revenue to CNIT of about $1 million.

Today's news is the sixteenth in a series of announcements since May of 2017 on CNIT's sales of its cloud-based ad terminals. Each of the contracts - which range in value from $0.5 to $3 million - is also expected to generate revenue from customers' use of the company's Yunfa advertising distribution system and Taoping ad screen sharing platform.

"Guangxi is the hub province connecting ASEAN countries with border cities agglomeration," said Chairman and CEO Mr. Jianghuai Lin. "This contract is another successful marketing expansion of CNIT to open up the south market following our success in Guangdong. It will play a vital role in promoting new-media sharing business in neighbor provinces," he added.

Mr. Lin restated that by 2018, the Company expects to sell an additional 120,000 cloud-based ad terminals with market penetration in 100 cities with coverage for 200 million people throughout China.

SHENZHEN, CHINA / ACCESSWIRE / October 25, 2017 / China Information Technology, Inc. (CNIT), a provider of internet-based ad distribution and ad display terminal sharing systems in China, announced that it has entered into a contract for the sale of 5,000 CNIT cloud-based ad terminals to be installed in office buildings, residential communities, shopping malls and various outdoor locations throughout Jiangsu Province, China's second largest provincial economy.

Signed with advertising agency Jiangsu Taoping IoT Technology Limited, the contract is expected to generate sales and service revenue to CNIT of $1.5 million. The agreement - CNIT's fourth this year for the sale of its cloud-based ad terminals in East China - follows up the $3 million contract for Zhejiang province, $1.5 million contract for Shanghai and $1 million contract for Anhui Province.

Today's news is the fourteenth in a series of announcements since May of 2017 on CNIT's sales of its cloud-based ad terminals. Each of the contracts - which range in value from $0.5 to $3 million - is also expected to generate revenue from customers' use of the company's Yunfa advertising distribution system and Taoping ad screen sharing platform.

"We are proud to have landed this contract for Jiangsu, the province with the highest GDP per capita in China. This contract will not only contribute substantial revenue but will also further strengthen our presence in East China." said Chairman and CEO Mr. Jianghuai Lin.

The CEO reiterated the company's projection of 2018 revenue of $30 to $33 million and adjusted net income of $9 to $11 million, with sales of additional 120,000 cloud-based ad terminals with market penetration in 100 cities and IoT network coverage of 200 million people throughout China.

SHENZHEN, CHINA / ACCESSWIRE / September 13, 2017 / China Information Technology, Inc. (CNIT), a provider of internet-based ad distribution and ad display terminal sharing systems in China, today announced that it has received official notification from The Nasdaq Stock Market that the company has regained compliance with the minimum bid price requirement for continued listing on NASDAQ Capital Market.

This notification, dated September 12 and delivered to CNIT chairman and CEO Mr. Jianghuai Lin, stated that from August 21 to September 12, 2017, the closing bid price of the company's ordinary shares has been at $1.00 per share or greater. Accordingly, the company has regained compliance with Nasdaq Listing Rule 5550(a)(2) and this matter is now closed.

SHENZHEN, CHINA / ACCESSWIRE / September 8, 2017 / China Information Technology, Inc. (CNIT), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, today said it has entered into contract for the sale of 3,000 CNIT cloud-based ad terminals to be installed in office buildings, residential communities, shopping malls and various outdoor locations throughout Tianjin Municipality, the primary industrial, commercial and economic center of North China.

Signed with advertising agency Tianjin Taoping IoT Technology Limited, the contract is expected to generate sales and service revenue to CNIT of $1 million by the first quarter of next year. The agreement - CNIT's second in 2017 for the sale of its cloud-based ad terminals in North China - follows up the company's $1.1 million ad terminal contract for Beijing announced in July.

Today's news is the eleventh in a series of announcements since May on CNIT's sales of its cloud-based ad terminals. Each of the contracts, which range in value from $0.5 to $3 million - is also expected to generate revenue from customers' use of the company's Yunfa advertising distribution system and Taoping ad screen sharing platform.

"We are proud to have landed this contract for Tianjin Municipality, one of China's leading commercial centers," said Chairman and CEO Mr. Jianghuai Lin. "As projected, we are now experiencing an acceleration in sales of our cloud-based ad terminals, due to both their technological excellence and their previous exposure in China's leading economic centers. We expect this trend to continue, and to be further boosted by today's contract for Tianjin."

The CEO reiterated the company's projection of 2018 revenue of $30 to $33 million and adjusted net income of $9 to $11 million, with sales of 120,000 cloud-based ad terminals in 100 cities covering 200 million people throughout China.

SHENZHEN, CHINA / ACCESSWIRE / August 25, 2017 / China Information Technology, Inc. (CNIT), a provider of cloud-application-terminal technology for internet-based advertisement distribution and ad display terminal sharing systems in China, today said that, beginning with the third quarter this year, it will voluntarily report and publicly announce the company's financial results on a quarterly basis.

It is expected that these quarterly results will be released in conjunction with 6-K filings, and will continue to be joined by a 20-F filing for year-end results.

As a "foreign private issuer," CNIT is not required under U.S. federal securities laws or the rules of Nasdaq to file or make public quarterly financial information.

"Among our most important objectives going forward is to increase the frequency with which we communicate with our shareholders and the financial community," said chairman and CEO Mr. Jianghuai Lin. "By announcing our financial results quarterly, as do U.S. domestic public companies, we believe we are taking an important step in accomplishing this goal."

Mr. Lin added that, at regular intervals, the company also intends to issue updated guidance on projected revenue and adjusted net income for 2018 and 2019.

On August 21 the company forecasted 2018 revenue of $30 to $33 million and adjusted net income of $9 to $11 million. For 2019, CNIT projected revenue of $55 to $60 million with adjusted net income of $20 to $23 million.

Mr. Lin said he expects CNIT's 2017 third quarter revenue to total $5.5 to $6 million, putting the company on track to meet or exceed this year's revenue projection of $17 to $19 million.

SHENZHEN, CHINA / ACCESSWIRE / August 21, 2017 / China Information Technology, Inc. (NASDAQ: CNIT), a provider of cloud-app technologies for internet-based advertisement distribution and advertising display terminal sharing systems in China, today said that, for the first six months of calendar 2017 ended June 30, the company had revenue of approximately $5.7 million, a 94 percent increase from revenue of approximately $3.0 million in the first half of 2016. CNIT had net income attributable to the Company of approximately $35,000, or $.00 per share, in the first half of this year, compared to a net loss of approximately $7.1 million, or ($.18) per share, for the first half of 2016.

Excluding non-cash items mainly in the categories of depreciation of fixed assets, amortization of intangible assets, stock-based compensation, provision for obsolete inventories, and provision for bad debt reserve on accounts receivable, the Company had adjusted net income for the first six months of 2017 of approximately $1.9 million, or $.05 per share, compared to an adjusted net loss of approximately $2.9 million, or ($.07) per share, for the comparable period a year ago.

Weighted average number of shares outstanding was 40,231,159 for the first half of 2017 and 40,119,106 for the prior-year six-month period.

As of June 30, 2017, the Company had about $2.3 million in cash and cash equivalents, short-term debt of $6.8 million and accounts payable of $6.4 million, compared to cash and cash equivalents of approximately $3.8 million, short-term debt of $7.8 million and accounts payable of $6.0 million at the end of calendar 2016.

CNIT's increased six-month revenue compared to the first half of last year was the result of increased product sales of the Company's cloud-based advertising display terminals. The Company's transition to profitability compared to the prior-year six-month period was mainly the result of its continuing conversion from a traditional information technology (TIT) provider to the government sector over to a cloud-based technology (CBT) solutions provider to private enterprise, a move that generates comparably higher gross margins.

During the first six months of 2017, about 94 percent of the Company's revenue was derived from its CBT segment and 6 percent from its TIT segment, compared to 80 percent and 20 percent, respectively, in the first half of 2016. The CBT segment achieved a 47 percent gross margin in the first half of 2017 while the TIT segment had a gross margin of negative 20 percent, compared to 53 percent and negative 52 percent, respectively, for the first half of 2016.

Overall the Company's gross margin for the first half of 2017 increased to 42% from 32% for the same period of 2016.

CNIT's improved bottom line performance compared to the first six months of last year also resulted from cuts of about $2.2 million in administrative expenses, which, in turn, resulted from both a decrease in compensation and benefits related to a reduction of TIT employee headcount and a decrease in bad debt provision and depreciation. R&D expenses for the first half of 2017 increased about $0.3 million compared to the first half of 2016, primarily due to the increase of amortization of software for the CBT segment. Selling expenses for the first half of 2017 dropped about $63,000 to $0.6 million from the first half of 2016, due mostly to a reduction of sales force for the Company's TIT business.

Other income for the first half of 2017 was $0.2 million, compared to other loss of $0.6 million for the same period of 2016. Other income for the first half of 2017 was mainly due to adjustments to certain liabilities based on internal review and advice from the Company's Chinese legal counsel as a result of the expiration of the creditor's statute limitation of legal actions according to relevant regulations of the General Principles of Civil Law of the People's Republic of China.

Income tax benefit for the first half of 2017 was $1.1 million, an increase of $0.8 million from the same period of 2016, due mainly to adjustments between book and corporate tax returns for certain tax liabilities as a result of the expiration of corporate tax retrospection according to relevant regulations of the Law of Administration of Tax Collection of the People's Republic of China.

"As we projected, CNIT has turned the corner and returned to profitability," said CEO and chairman Mr. Jianghuai Lin. "Not only is our transition to a leading CBT provider progressing well, we have also increased our gross margin, reduced costs, and expanded into lucrative geographic markets."

The CEO projected that, as a result of these trends, CNIT would achieve or exceed its projection of 2017 revenue of $17 to $19 million - about 90 percent of which will be derived from equipment sales - and earn adjusted net income of $3.2 to $3.6 million.

Revenue in 2018, he said, would range from $30 to $33 million, with adjusted net income of $9 to $11 million.

In 2019, he added, revenue could possibly be between $55 and $60 million, with adjusted net income of from $20 to $23 million. Revenue in 2019 is expected to be derived evenly between equipment and services, the latter of which traditionally yields superior profit margins.

SHENZHEN, CHINA / ACCESSWIRE / August 15, 2017 / China Information Technology, Inc. (Nasdaq: CNIT), a provider of cloud-app technologies for internet-based ad distribution and ad screen sharing systems in China, today said it has entered into a contract for the sale of 5,000 CNIT cloud-based ad terminals to be installed in office buildings, residential communities, shopping malls and various outdoor locations by year-end throughout Henan Province. Located in central China, Henan is the nation's third most populous province and fifth largest provincial economy.

Signed with advertising agency Henan Taoping IoT Technology Limited, the contract is expected to generate sales and service revenue to CNIT of about $1.5 million by the end of this year.

Today's news is the eighth announcement since May on CNIT's sales of its cloud-based ad terminals. Each of the contracts is also expected to generate revenue from customers' use of Yunfa Net (www.cnitiot.com), CNIT's cloud-based system allowing an advertiser to create reduced-cost ads on a PC or mobile app, transmit these ads to the elevator ad terminals of their choice, and receive feedback from the terminals on how viewers are responding to the ads.

"With its fast-growing economy, status as the cradle of Chinese civilization and home to many of our ancient heritage sites, Henan Province will likely be a lucrative region for CNIT," said chairman and CEO Mr. Jianghuai Lin. "Not only will this contract strengthen our foothold in Central China, it will also provide us with a springboard for landing additional cloud-based business in other parts of China."

The CEO said he expected to announce additional sales contracts "in the near future."

SHENZHEN, CHINA / ACCESSWIRE / August 10, 2017 / China Information Technology, Inc. (CNIT), a provider of cloud-app technologies for internet-based ad distribution and ad screen sharing systems in China, today said it has entered into a contract for the sale of 3,000 CNIT cloud-based ad terminals to be installed in office buildings, residential communities, shopping malls and various outdoor locations by year-end throughout Shandong, the nation's third largest provincial economy.

Signed with advertising agency Shandong Taoping IoT Limited, the contract is expected to generate sales and service revenue to CNIT of about $1 million by the end of this year.

The 3,000 terminals will include a built-in module, Property Management Assistant, a value-added service allowing property management companies to publicize certain information to specific blocks of ad terminals and receive feedback via the terminals from local residents.

Today's news is the seventh announcement since May on CNIT's sales of its cloud-based ad terminals. Each of the contracts is also expected to generate additional revenue from customers' use of Yunfa Net (www.cnitiot.com), CNIT's cloud-based system allowing an advertiser to create reduced-cost ads on a PC or mobile app, transmit these ads to the elevator ad terminals of their choice, and receive feedback from the terminals on how viewers are responding to the ads.

"This sale - our first ad terminal sale in Shandong - furthers the east China market penetration we achieved with earlier contracts for Shanghai, Anhui and Fujian," said chairman and CEO Mr. Jianghuai Lin.

"As one of China's major economic centers, Shandong will likely be a fertile business region for CNIT and move us closer toward our goal of selling at least 60,000 cloud-based ad terminals with market coverage of 100 million people in 20 major provinces or municipalities this year."

The CEO said he expected to announce additional sales contracts "in the near future."

SHENZHEN, CHINA / ACCESSWIRE / August 8, 2017 / China Information Technology, Inc. (Nasdaq:CNIT), a provider of cloud-app technologies for internet-based ad distribution and ad screen sharing systems in China, today said it has entered into a contract for the sale of 3,000 CNIT cloud-based ad terminals to be installed in office buildings, residential communities, shopping malls and various outdoor locations by year-end throughout Yunnan, a key province of China's southwest frontier.

Signed with advertising agency Yunnan Taoping IoT Limited, the contract is expected to generate sales and service revenue to CNIT of about $1 million by the end of this year.

The 3,000 terminals will include a built-in module, Property Management Assistant, a value-added service allowing property management companies to publicize certain information to specific blocks of ad terminals and receive feedback via the terminals from local residents.

Today's news is the sixth announcement in approximately ten weeks on CNIT's sales of its cloud-based ad terminals. Each of the contracts is also expected to generate additional revenue from customers' use of Yunfa Net (www.cnitiot.com), CNIT's cloud-based system allowing an advertiser to create reduced-cost ads on a PC or mobile app, transmit these ads to the elevator ad terminals of their choice, and receive feedback from the terminals on how viewers are responding to the ads.

Purchasers of CNIT's ad terminals will also be invited to subscribe to Yunti Guard, the company's IoT safety solution comprising a series of state-of-the-art features not previously available in a single elevator maintenance system.

"This sale - our first major ad terminal sale in Yunnan - is a breakthrough for our strategic market expansion in the southwest of China," said chairman and CEO Mr. Jianghuai Lin. "As projected, we are steadily progressing toward our goal of selling at least 60,000 of our cloud-based ad terminals with market coverage of approximately 100 million people in 20 major Chinese provinces or municipalities this year."

The CEO confirmed that the company expects to generate 2017 revenue of $17 to $19 million and net income of $3.2 to $3.6 million, excluding depreciation, amortization of intangible assets, stock-based compensation and other non-cash items.

SHENZHEN, CHINA / ACCESSWIRE / July 24, 2017 / China Information Technology, Inc. (CNIT), a provider of cloud-app technologies for internet-based ad distribution and ad screen sharing systems in China, today said it has entered into a contract for the sale of 2,000 CNIT cloud-based ad terminals to be installed by year-end throughout Beijing City.

Signed with advertising agency Beijing Haojing Culture & Media Limited, the contract is expected to generate sales and service revenue to CNIT of about $1.1 million. Beijing Haojing is the majority-owned subsidiary of Haojing (Xiamen) Culture Media Co., Ltd., a leading digital elevator advertising service company in China with nationwide market coverage.

The 2,000 terminals will include a built-in module for accessing Yunti Guard, CNIT's IoT safety solution comprising a series of state-of-the-art features not previously available in a single elevator maintenance system.

Today's news is the fifth announcement in the last two months on CNIT's sales of its cloud-based ad terminals. The five contracts have total sales of 20,000 terminals projected to produce revenue of $6.6 million this year. Each of the contracts is also expected to generate additional revenue from customers' use of Yunfa Net (www.cnitiot.com), CNIT's cloud-based system allowing an advertiser to create reduced-cost ads on a PC or mobile app, transmit these ads to the elevator ad terminals of their choice, and receive feedback from the terminals on how viewers are responding to the ads.

"This is a major milestone of our company," said chairman and CEO Mr. Jianghuai Lin. "As the nation's capital and one of the largest cities in China, Beijing will be a great showcase for our products and technology, and likely lead to additional business for CNIT."

The CEO said he remained confident that by year-end CNIT will sell at least 60,000 cloud-based ad terminals with market coverage of approximately 100 million people in 20 major Chinese cities. "This expanded coverage will be supported by the buildout of CNIT's national IoT network of cloud-based ad terminals installed in office buildings, residential communities, shopping malls and various outdoor locations," said Mr. Lin, the combination of which is expected to generate growing levels of recurring platform, resource exchange and big data service fees.

These service fees, he said, are likely to have net profit margins exceeding 50 percent.

Shenzhen, China--(Newsfile Corp. - June 12, 2017) - China Information Technology, Inc. (Nasdaq: CNIT), a provider of cloud-app technologies for Internet-of-Things (IoT) platforms and internet-based ad distribution and ad screen sharing systems in China, today said it has entered into a contract for the sale of 3,000 CNIT cloud-based ad terminals to be installed by year-end throughout Wuhu City in Anhui Province.

The contract, signed with advertising agency Anhui Taoping IoT Technology Limited ("Anhui Taoping"), is expected to generate sales and service revenue to CNIT of about $1 million by the end of this year. Anhui Taoping is 20 percent owned by Shenzhen Taoping New-Media Limited, an ad agency of which CNIT chairman and CEO Mr. Jianghuai Lin is the controlling shareholder.

Today's news is the fourth announcement in about three weeks on CNIT's sales of its cloud-based ad terminals. The four contracts have total sales of 18,000 terminals projected to produce revenue of $5.5 million this year. Each of the contracts is also expected to generate additional revenue from customers' use of Yunfa Net (www.cnitiot.com), CNIT's cloud-based system allowing an advertiser to create reduced-cost ads on a PC or mobile app, transmit these ads to the elevator ad terminals of their choice, and receive feedback from the terminals on how viewers are responding to the ads.

Purchasers of CNIT's ad terminals will also be invited to subscribe to Yunti Guard, the company's IoT safety solution comprising a series of state-of-the-art features not previously available in a single elevator maintenance system.

"We are thrilled to announce yet another sales agreement for our cloud-based ad terminals," said Mr. Lin. "With this development, we remain confident in our projection to sell at least 60,000 cloud-based ad terminals for $17.5 million in 2017."

SHENZHEN, CHINA / ACCESSWIRE / October 19, 2016 / China Information Technology, Inc. (CNIT), a growing provider of cloud-app terminal technologies for Internet-of-Things (IoT) platforms, digital advertising delivery and other internet-based information distribution systems throughout China, today said that on October 17, 2016 it received written notice from the Nasdaq Stock Market ("Nasdaq") stating that the company is no longer in compliance with the $1.00 minimum closing bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1) for continued listing on The Nasdaq Global Select Market.

The notice has no immediate effect on the listing of CNIT's ordinary shares, which will continue to trade on The Nasdaq Global Select Market under the symbol "CNIT" at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the company has a grace period of 180 calendar days, or until April 17, 2017, to regain compliance with the minimum closing bid price requirement. To regain compliance, the closing bid price of the company's ordinary shares must meet or exceed $1.00 per share for at least ten consecutive business days during this 180-day compliance period.

In the event the company does not regain compliance with the minimum closing bid price requirement by April 17, 2017, Nasdaq may provide the company an additional 180-day period to regain compliance, subject to the company, at that time, transferring its securities to The Nasdaq Capital Market and satisfying certain other requirements. However, if Nasdaq determines that the company will not be able to cure the deficiency, or should the company determine not to submit a transfer application or make the required representation, Nasdaq will notify the company that its securities will be subject to delisting.

The company will actively monitor the closing bid price of its ordinary shares between now and April 17, 2017 and intends to consider various options available to regain compliance

SHENZHEN, China, April 22, 2016 /PRNewswire/ -- China Information Technology, Inc. (Nasdaq:CNIT), a leading provider of internet-based platforms and digital advertising technologies and services in China, today said that, for the year ended December 31, 2015, the company had a net loss of ($7,504,262), or ($.22) per basic share, on revenue of $10,284,868 compared to a net loss of ($29,231,347), or ($.96) per basic share, on revenue of $38,634,747 for the year ended December 31, 2014.

These figures, said CNIT, are the result of the company's business transition, beginning in 2014, from an IT system integrations provider to the government sector to an internet-based solutions and services provider to private enterprises -- a role that enables higher sales margins and greater potential profitability. This transition included certain financial adjustments during 2015, including write-offs of receivables and intangible assets associated with the company's discontinued government business as well as the disposal of certain traditional IT businesses and real estate assets, in order to reduce debt and improve working capital.

The company's decrease in 2015 revenue was primarily due to a continued shifting of hardware production from its own factory over to OEM partners, resulting in hardware revenue decreasing to $4.95 million as compared to $22.63 million in 2014. Overall 2015 revenue was also reduced as a result of CNIT's strategic transformation from a traditional IT business to a cloud-based business, producing a decrease in revenue for software and system integration services to $3.20 million and $1.01 million, respectively, in 2015, from $10.37 million and $4.82 million, respectively, in 2014.

However, during 2015 CNIT increased its gross margin to 37.96%, from 27.15% in 2014. This increase primarily resulted from the company's aforementioned shift from a hardware to a cloud-based technology business model.

The company's net loss total for 2015 included a non-operating gain of $29,994,037 derived from the sale of Fuyong Industrial Park, a real estate property no longer vital to CNIT due to the company's shift away from hardware production. CNIT utilized the proceeds from this sale to significantly reduce its short-term debt to $15.27 million at year-end, down from $51.82 million at the end of 2014, as well as to improve its working capital.

In the fourth quarter of 2015, the company disposed of the equity interests in Geo and Zhongtian, two subsidiaries of CNIT's variable interest entity, iASPEC Geo Information Technology Company Limited.  As a result, the operations of Geo and Zhongtian have been presented as discontinued operations for all periods in CNIT's consolidated financial statements.

"We believe our 2015 results provide ample evidence that our transition to a leading cloud-based digital advertising provider is well underway," said CNIT CEO and chairman, Mr. Jianghuai Lin.  This transition, he said, has not only produced increased margins, reduced debt, eliminated unnecessary assets and increased working capital, but has also included several major agreements for sales of the company's elevator-based digital advertising terminals.

The latest such agreements, announced on April 12, called for the sale of a minimum of 8,500 terminals to be installed in elevators in 20 major cities across China and will net CNIT at least $5.2 million in 2016, said Mr. Lin.

In addition, he said, these terminals are now penetrating new markets including educational software and conference training, expected to contribute meaningful high-margin revenue for CNIT this year and beyond.

Not only does the company receive sales revenue from its terminals, said Mr. Lin, it also collects recurring monthly maintenance and safety service revenue for the life of each unit.

On top of this, he said, the company can receive additional terminal-related revenue through customers' use of CNIT's Yunfa Net advertising delivery system.

Yunfa Net enables advertisers -- usually smaller companies or their advertising agencies -- to design ads on their PC or mobile app and transmit them automatically to the digital ad terminals of their choice across China. The system, which has proven to both cut the cost of advertising by as much as 50 percent and enable these ads to be easily targeted to a customer's most likely customers, won the 2016 Golden Peacock Excellent Award as China's leading innovation in digital advertising technology.

"We believe Yunfa Net, now acknowledged as among our country's most efficient digital ad technologies, will continue to make a very important, high-margin revenue contribution for us -- and we expect this contribution to grow with each successive quarter."

In addition, said Mr. Lin, the company will continue in 2016 to emphasize four other strategies, including tightly controlling company costs, reinforcing cash collection policies to shorten the company's days of sales outstanding, streamlining purchase order management in order to reduce inventory, and obtaining new government subsidies to be used for developing and marketing additional high-margin cloud-based software solutions.

These measures, he said, combined with the company's steadily increasing sales, should enable CNIT to become profitable by the fourth quarter of 2016.

Mr. Lin added that he believes the company's current cash and cash equivalents, anticipated cash flows from operations in 2016, and additional availability under its borrowing facilities will be sufficient to meet CNIT's operating and financial obligations for the remainder of the calendar year.

SHENZHEN, China, April 12, 2016 /PRNewswire/ -- China Information Technology, Inc. (Nasdaq: CNIT), a leading provider of internet-based platforms and digital advertising technologies and services in China, today said it has entered into two agreements with a leading advertising agency in Fujian Province for the combined sale of 8,500 CNIT elevator digital display terminals to be installed in 20 major cities throughout China.

These agreements, both signed with Haojing (Xiamen) Culture Media Co., Ltd., have total base revenue of RMB33.58 million (about $5.2 million), all of which will be remitted to CNIT during calendar 2016. The agreements also carry a non-binding contract addition of 60,000 to 80,000 terminals to be purchased by Haojing from CNIT over the following three years.

The 8,500 terminals covered under the agreements will be installed in elevators in office buildings, hotels, shopping malls and prime residential communities in Beijing, Shanghai, Guangzhou, Shenzhen and 16 other large Chinese cities and will carry advertising targeted to specific audiences in high-traffic locations. The terminals will enable viewers to request information about, or make purchases of, advertisers' products and services.

For advertisers, the terminals are expected to significantly reduce the cost of advertising while increasing the ability to target ads to their most likely customers.

In addition to sales revenue on the terminals, CNIT receives recurring monthly fees for the life of the units from customers' use of Yunfa Net (www.pubds.com), the company's cloud-based content delivery platform that enables advertisers to design and update ads on their PC or mobile app and transmit them to the display terminals of their choice across China.

Today's announcement follows four other display terminal contracts signed by CNIT since last August providing for installation of more than 22,000 units in five Chinese provinces.

"We're very proud to have completed these additional milestone agreements for our digital display terminals," said CNIT CEO and chairman, Mr. Jianghuai Lin. "These sales are further evidence of our successful transition from an IT system integration provider to government to an integrated internet-based solutions and services provider to enterprise - a role that makes possible far higher sales margins and greater profitability for our company."

This transition has included certain financial adjustments, made over the past year, designed to strengthen the company's operations. These include write-offs of receivables and intangible assets associated with CNIT's government business - from which the company exited at the end of 2014 - and the disposal of certain traditional IT business and real estate assets in order to reduce debt and improve working capital.

The company is also penetrating new markets, said Mr. Lin, including educational software and conference training, that are expected to contribute meaningful high-margin revenue.

Further details of the company's transition will be included in CNIT's 2015 year-end financial report expected to be released on or before April 22, said the CEO.

SHENZHEN, China, Jan. 19, 2016 /PRNewswire/ -- China Information Technology, Inc. (Nasdaq:CNIT), a leading provider of internet-based platforms and digital advertising services in China, today said it had introduced YunTouch, a new stand-alone digital display terminal designed for use in multiple locations including retail stores, shopping malls, restaurants, hospitals, banks, financial institutions and government buildings. 

Equipped with interactive touch screen function, an HD camera, a built-in microphone, and a high-definition 32-inch tall LCD screen, the YunTouch terminal enables customers to quickly and easily view or order products and verbally request product information.

YunTouch also has face recognition and big data technology which collects and analyzes customers' past purchase behavior and automatically shows them relevant new product information.

YunTouch is fast, with an 8-core processor and CNIT's proprietary network operating system, and can be remotely programmed from a customer's own PC or mobile app via the company's YunfaNet cloud-based information network.

As with CNIT's elevator-based terminals, YunTouch can display a full slate of digital and video ads, also delivered via YunfaNet.  

"We are very excited to roll out this advanced stand-alone terminal," said CEO and chairman, Mr. Jianghuai Lin. "We believe the YunTouch will allow companies to stimulate significant sales and strengthen brand recognition, particularly amongst younger consumers who are used to interacting with and making purchases via out-of-home digital display screens."

"We further believe products like YunTouch can reduce the cost of product promotion compared to other advertising or product message modalities."

Mr. Lin said he expected sales of YunTouch to be "brisk" and account for "meaningful high-margin revenue" during calendar 2016.

SHENZHEN, China, Jan. 19, 2016 /PRNewswire/ -- China Information Technology, Inc. (Nasdaq: CNIT), a leading provider of internet-based platforms and digital advertising services in China, today said it had introduced YunTouch, a new stand-alone digital display terminal designed for use in multiple locations including retail stores, shopping malls, restaurants, hospitals, banks, financial institutions and government buildings. 

Equipped with interactive touch screen function, an HD camera, a built-in microphone, and a high-definition 32-inch tall LCD screen, the YunTouch terminal enables customers to quickly and easily view or order products and verbally request product information.

YunTouch also has face recognition and big data technology which collects and analyzes customers' past purchase behavior and automatically shows them relevant new product information.

YunTouch is fast, with an 8-core processor and CNIT's proprietary network operating system, and can be remotely programmed from a customer's own PC or mobile app via the company's YunfaNet cloud-based information network.

As with CNIT's elevator-based terminals, YunTouch can display a full slate of digital and video ads, also delivered via YunfaNet.  

"We are very excited to roll out this advanced stand-alone terminal," said CEO and chairman, Mr. Jianghuai Lin. "We believe the YunTouch will allow companies to stimulate significant sales and strengthen brand recognition, particularly amongst younger consumers who are used to interacting with and making purchases via out-of-home digital display screens."

"We further believe products like YunTouch can reduce the cost of product promotion compared to other advertising or product message modalities."

Mr. Lin said he expected sales of YunTouch to be "brisk" and account for "meaningful high-margin revenue" during calendar 2016.

SHENZHEN, China, Jan. 4, 2016 /PRNewswire/ -- China Information Technology, Inc. (Nasdaq: CNIT), a leading provider of internet-based platforms and digital advertising services in China, today said it has entered into a strategic partnership agreement with Jiangsu CAT Internet-of-Things Company, Ltd., an information technology solutions provider in Jiangsu Province, to install 10,000 of CNIT's cloud-based elevator ad terminals across the Province over the next several years.

The terminals, which will be installed primarily in office building elevators, will carry advertising targeted to specific local audiences in high-traffic areas and enable viewers to easily make purchases or request information about these advertisers' products and services. Digital ads on the terminals can be automatically updated and linked to relevant local news and developments.

This technology is facilitated through Yunfa Net (www.pubds.com), CNIT's cloud-based publication platform.

As per today's agreement, CNIT will receive one-time sales revenue as well as recurring monthly service fees for the life of the terminals.

"We're very excited to have completed yet another agreement for our cloud-based new media terminals," said CNIT CEO and chairman, Mr. Jianghuai Lin.

"Our terminals help smaller companies on limited ad budgets to significantly lower their cost of advertising while increasing the ability to target ads to their most likely customers.  In addition, our Yunfa Net technology permits our clients to design and transmit their ads from the comfort of their own PC or mobile app.

"We believe these advantages are helping transform the public space advertising landscape across China and will provide increasingly lucrative opportunities for CNIT for several years to come."

Today's agreement follows CNIT's December 9 agreement to roll out 10,000 of its ad terminals in Sichuan Province, a September 2announcement to install 1,200 terminals in Guizhou and Fujian Provinces, and an August 12 agreement to install 922 terminals inGuangdong Province.

As of today, CNIT's cloud-based ad terminals have been installed in over 15 provinces and areas across China. The company expects the terminals' market coverage and overall sales will increase significantly over the next 12 to 18 months.

SHENZHEN, China, December 23, 2015 /PRNewswire/ -- China Information Technology, Inc. (CNIT) (Nasdaq: CNIT), a leading provider of internet-based platforms, products and services in China, today announced that it has regained compliance with the minimum bid price requirement for continued listing on NASDAQ Global Select Market.

As previously disclosed, the company received a notice from the NASDAQ Stock Market on November 23, 2015, indicating that the company's ordinary shares failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Listing Rules of The Nasdaq Stock Market. On December 22, 2015, the company received a letter from the NASDAQ Listing Qualifications department stating that because the company maintained the closing bid price of its ordinary shares at $1.00 per share or greater from November 27 to December 21, 2015, they determined that the company has regained compliance with the minimum bid price requirement under Listing Rule 5450(a)(1).

SHENZHEN, China, Dec. 8, 2015 /PRNewswire/ -- China Information Technology, Inc. (Nasdaq: CNIT), a leading provider of internet-based platforms, products and services in China, today said it entered into a strategic partnership agreement with Sichuan CAT Internet-of-Things Company, Ltd., an information technology solutions provider in Sichuan Province, to roll out CNIT's new media elevator terminals across the Province.

CNIT expects 10,000 of the terminals to be sold and installed within the next several years, for which the company will receive one-time terminal sales and recurring monthly service fees over this period.

Equipped with CNIT's proprietary mainboard and operating system, the terminals will display advertising and public information through Yunfa Net (www.pubds.com), the company's cloud-based publication platform. Integrated with surveillance cameras and data collectors, the terminals will also transmit data on elevator operation to property management on a real-time basis.

Today's agreement follows a September 2 announcement that the company will install 1,200 new media elevator terminals in GuiyangCity in Guizhou Province and Longyan City in Fujian Province, and an August 12 announcement that CNIT will install 922 terminals inHuizhou City in Guangdong Province. To date, the company's terminals have been successfully introduced into numerous strategic markets throughout China, an accomplishment that has strengthened CNIT's brand recognition and the competitiveness of cloud-based new media solutions. 

SHENZHEN, China, Nov. 25, 2015 /PRNewswire/ -- China Information Technology, Inc. (CNIT), a leading provider of internet-based platforms, products and services in China, today said that on November 23, 2015 it received written notice from the Nasdaq Stock Market ("Nasdaq") stating that the company is no longer in compliance with the $1.00 minimum closing bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1) for continued listing on The Nasdaq Global Select Market.

The notice has no immediate effect on the listing of CNIT's ordinary shares, which will continue to trade on The Nasdaq Global Select Market under the symbol "CNIT" at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the company has a grace period of 180 calendar days, or until May 23, 2016, to regain compliance with the minimum closing bid price requirement. To regain compliance, the closing bid price of the company's ordinary shares must meet or exceed $1.00 per share for at least ten consecutive business days during this 180-day compliance period.

In the event the company does not regain compliance with the minimum closing bid price requirement by May 23, 2016, Nasdaq may provide the company an additional 180-day period to regain compliance, subject to the company, at that time, transferring its securities to The Nasdaq Capital Market and satisfying certain other requirements.  However, if Nasdaq determines that the company will not be able to cure the deficiency, or should the company determine not to submit a transfer application or make the required representation, Nasdaq will notify the company that its securities will be subject to delisting.

The company will actively monitor the closing bid price of its ordinary shares between now and May 23, 2016 and intends to consider the various options available to regain compliance.

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SHENZHEN, China, September 29, 2015 /PRNewswire/ -- China Information Technology, Inc. (the "Company") (Nasdaq: CNIT), a leading provider of internet-based platforms, products and services in China, today announced its unaudited financial results for the six month period ended June 30, 2015.

First Half-Year 2015 Financial Highlights

• Revenue decreased by 46.4% to $16.1 million compared to the first six months of 2014;
• Cost of sales decreased by 46.1% to $9.8 million compared to the same period last year;
• Gross margin decreased slightly to 38.9%, from 39.3% a year ago;
• Net loss attributable to the Company was $6.8 million, compared with a net income attributable to the Company of $31,000 for the first six months of 2014;
• Excluding non-cash items, adjusted net loss was $4.9 million, compared to an adjusted net income of $2.8 million for the first six months of 2014;
• Fully diluted net loss attributable to the Company per share was $0.21, compared to fully diluted net income attributable to the Company per share of break-even for the six months ended June 30, 2014;
• Excluding non-cash items, adjusted net loss per share was $0.15, compared to an adjusted net income per share of $0.10 for the prior year's period;
• As of June 30, 2015, short-term debt and bills payable were $57.1 million and $6.5 million, respectively, down from $62.7 million and $24.2 million, respectively at the end of 2014;
• As of September 25, 2015, the Company has completed its previously announced sale of land use rights with respect to Fuyong Industrial Park and collected a total of $61.6 million (RMB 375.0 million) of cash payments. As the result, short-term debt is expected to be reduced substantially from the June 30, 2015 level.
• On May 26, 2015, the Company closed a registered direct offering, in which the Company sold 2,102,484 ordinary shares to certain institutional investors at the price of $6.44 per share and issued warrants to purchase an aggregate of 1,576,863 ordinary shares of the Company to the investors. Gross proceeds from the offering were approximately $13.54 million.

Mr. Jiang Huai Lin, Chairman and Chief Executive Officer of the Company, commented, "Our first-half 2015 results are a reflection of the business transformation and corporate restructuring we have undertaken. Shutting down our manufacturing facility and downsizing traditional system integration services caused our total revenue to suffer in the short run. However, launching Cloud-App-Terminal (CAT) services will help us achieve higher profitability and growth rate in the long run. We believe that the most challenging part of the strategic transition is behind us. We expect to reduce capital expenditure and improve operating cash flow going forward."

"The cash infusion from our recent capital raise allowed us to accelerate our research and development efforts. In August 2015, we introduced our proprietary operating system, Cloud Nest OS (NOS). NOS resolves the typical compatibility issue between display hardware and interface software, improves product performance, and thus reduces our cost of after-sale support."

"Most importantly, the CNIT Internet service ecosystem is gaining traction and expanding rapidly through our flagship Yunfa Net and Taoping Net platforms. Leveraging cloud technologies, Yunfa Net automates the process of public information distribution and enables seamless editing and broadcasting of advertisement. As of August 2015, there were approximately 70,000 display terminals in China connected to Yunfa Net with monthly active terminals of approximately 20,000."

"As China's first advertising E-commerce platform, Taoping Net makes it possible for ad buyers to purchase ad time slots on desired display terminals and locations. Taoping Net also maximizes asset utilization for display terminal owners. Undergoing beta testing, Taoping Net is scheduled to formally launch in the fourth quarter of 2015. Meanwhile, we continue to explore and roll out new business models including cloud meeting, cloud education, and cloud training to serve our diverse clients."

"2015 has been a key transitional year. We are making solid progress in launching our cloud-based new businesses. Capital raise and land sale considerably improved our cash flow, and aided our transition to a new business model that is asset light and has lower leverage and higher growth. We also realigned the senior management team to better position for future growth. We remain focused on executing our business plan and look forward to reaping the benefits of our strategic transition in 2016 and beyond."

SHENZHEN, China, September 2, 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 was selected by leading advertising agencies in China to install 1,200 cloud-based new media elevator terminals in Guiyang City of Guizhou Province and Longyan City of Fujian Province. Revenues from these installations will amount to approximately RMB4.4 Million including one-time terminal sales and monthly recurring platform service fees, as well as monthly rental fees on certain terminals. The terminals are expected to become operational by early September 2015.

These new media elevator terminals will display advertising and public information through Yunfa Net, the Company's cloud-based publication platform. Integrated with surveillance cameras and data collectors, the terminals also transmit data on elevator operation to the property management and elevator safety bureau on a real-time basis.

In Guiyang, the Company was selected by Guizhou Dianxian Media Co., Ltd. ("Dianxian") to install 800 CNIT-branded new media elevator terminals in residential and commercial buildings. Revenues from the Guiyang installation will be recognized through: a) one-time sales of 450 terminals (including CNIT proprietary control boards and operating system) and monthly recurring platform service fees; and b) monthly recurring rental fees on 350 terminals and platform service fees.

In Longyan, the Company was selected by Fujian Yunti Info Tech Co., Ltd. ("Yunti") to install 400 CNIT-branded new media elevator terminals in residential and commercial buildings. Revenues from the Longyan installation will be recognized through: a) one-time sales of 200 terminals (including CNIT proprietary control boards and operating system) and monthly recurring platform service fees; and b) monthly recurring rental fees on 200 terminals and platform service fees.

Contracts with Dianxian and Yunti are ongoing business relationships that reflect the legacy terminal leasing model. As recently announced, the Company has shifted to focus on a sales oriented model for its future businesses.

SHENZHEN, China, Aug. 19, 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 independent special committee (the "Special Committee") of the Company's Board of Directors (the "Board"), formed to consider the previously announced non-binding "going private" proposal (the "Proposal") that the Board received on June 19, 2015, has engaged Duff & Phelps Securities, LLC and Duff & Phelps, LLC (collectively, "Duff & Phelps") as its financial advisor and Gibson, Dunn & Crutcher LLP ("Gibson, Dunn & Crutcher") as its legal counsel.

Duff & Phelps and Gibson, Dunn & Crutcher will assist the Special Committee to continue its evaluation of the Proposal. The Company cautions its shareholders and others considering trading in the Company's securities that no decision has been made on the response to the Proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.

SHENZHEN, China, August 12, 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 was selected by a leading advertising agency in China to install 922 cloud-based new media elevator terminals in Huizhou City of Guangdong Province. Revenues from these installations will be recognized through one-time terminal sales of RMB1.9 Million and monthly recurring platform service fees. The terminals are expected to be installed by the end of 2015.

These new media elevator terminals will display advertising and public information through Yunfa Net, the Company's cloud-based publication platform. Yunfa Net enables advertising agencies to remotely upload and manage contents. Integrated with surveillance cameras and data collectors, the terminals also transmit data on elevator operation to the property management and elevator safety bureau on a real-time basis. In addition, other types of CNIT new media terminals in Huizhou can also connect to Yunfa Net for content publication.

To improve future cash flow, the Company has adopted the revenue model of its new media businesses based on one of the following two models: a) sales of CNIT-branded new media terminals (including CNIT proprietary control boards and operating system) and monthly recurring Yunfa Net platform service fees; b) sales of CNIT P-Boxes (including CNIT proprietary control boards) and monthly recurring Yunfa Net platform service fees. P-Boxes are used to connect third-party terminals to the CNIT new media ecosystem.

Since the Company's strategic transition in July 2014, there have been approximately 25,000 CNIT-branded new media terminals installed in about 50 cities in China. As of July 2015, there were approximately 70,000 terminals connected to Yunfa Net with monthly active terminals of approximately 20,000.

SHENZHEN, China, July 6, 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 launched its mobile app for Healthcare One Pass, ushering in a new age of accessible healthcare services on mobile devices. The Company jointly hosted the launch ceremony with the Yantian District Health and Family Planning Bureau and Shenzhen News Net.

The mobile app for Healthcare One Pass provides comprehensive healthcare services including: appointment registration, same day appointment scheduling, outpatient payments, medical service ratings, treatment queries and a hospital guide. The new app also simplifies treatment processes, optimizes treatment experience, and provides access to healthcare services throughout the medical consultation process.

In addition, the Healthcare One Pass app also incorporates innovative features such as online chat, healthcare community and healthcare assistant. The online chat feature creates an end-to-end healthcare service ecosystem. The healthcare community allows users to easily find and communicate with others who share similar healthcare interests. The healthcare assistant feature provides customized healthcare services to users with specific needs such as pregnancy, chronic illness, high blood pressure, and diabetes.

Healthcare One Pass is a free app downloadable on iPhone and android mobile devices. It provides an entry point for CNIT to expand the coverage of its online exchange, Taoping Net, to the Chinese healthcare market. By collaborating closely with hospitals, doctors, and patients through Healthcare One Pass, CNIT will be able to upsell its cloud-based new media hardware, software, and services to hospitals, place its display terminals at high-traffic areas within healthcare facilities, disseminate integrated online and offline healthcare information, and thus attract advertisers and advertising agencies alike eager to lease prime time slots on CNIT's displays through Taoping Net.

Professor Xiao Ye Wu, president of Shenzhen Yantian District People's Hospital, said, "We are pleased to introduce the Healthcare One Pass mobile app for doctors and patients at our hospital. Healthcare One Pass disrupts the conventional healthcare model by providing intelligent and customized healthcare services over mobile devices. The new app also helps upgrade healthcare service quality and improves doctor-patient relationships."

Mr. Jiang Huai Lin, Chairman and CEO of the Company, said, "We are excited to launch the mobile app of Healthcare One Pass as it is the first healthcare app adopted in Yantian District and it is the first government-supported healthcare app in Shenzhen. The new app will help resolve the long wait times at hospitals and provides a variety of convenient and accessible healthcare services to users. Working with our partners, we will continue to roll out innovative Internet plus products and services to contribute toward building a digitally enhanced Smart Shenzhen."