China Information Technology, Inc. (NASDAQ:CNIT) Signs Contract With Beijing Taoping IoT Technology Limited

China Information Technology, Inc. (NASDAQ:CNIT) has announced that it has signed a contract with the advertising agency Beijing Taoping IoT Technology Limited for the sale of 5,000 CNIT cloud-based ad terminals. These terminals will be installed in office buildings, residential communities, shopping malls, and various outdoor locations across Hebei which is a province located in the North China and Liaoning, also a province located in Northeast China.

This contract of CNIT with the advertising agency is expected to generate sales and service revenue of about $1.5 million for the provider of internet-based ad distribution and ad display terminal sharing systems in China. This is the 18th news in the series of announcements coming from CNIT since May 2017 regarding the sales of cloud-based ad terminals. Each of the contracts of the company range in from $0.5 to $3 million. These contracts are expected to generate revenue from the use of the Yunfa advertising distribution system and Taoping ad screen sharing platform by the customers.

The Chairman and CEO of CNIT, Mr. Jianghuai Lin said that the Hebei province lies in the vital North China region and has served a strategic role in the Beijing-Tianjin-Hebei integration. He also stated that the Liaoning province serves as an important hub for the international trade in the Northeastern region of China.

CNIT’s contract in Liaoning and Hebei follows the success that started with the $1million contract of the company in Qingdao in December 2017. This new contract will make the presence of CNIT more influential in North China.

CNIT Aims To Sell 120,000 Terminals By 2018

 According to Mr. Lin, the company is expecting to sell an additional 120,000 cloud-based ad terminals in around 100 cities covering 200 million people across China by the end of this year. CNIT is one of the leading Internet services company providing integrated cloud-based solutions enabling innovation and smart living in the fields of elevator safety management, education, new media, etc.

The company is dedicated to carrying out continuous innovation and aims to leverage its proprietary Cloud-Application-Terminal technology to level the competitive landscape in the new media industry and offer value for its employees, customers, shareholders, and the community.

Brown Terrel

Brown Terrel

Terrel is US Markets Daily's business news reporter. She joined US Markets Daily after five years as a print reporter.