U.S. Markets open in 5 hrs 9 mins

China Information Technology, Inc. Signs $1 Million Cloud-Based Ad Terminal Contract for Fujian Province

Newsfile Corp.

Shenzhen, China--(Newsfile Corp. - June 5, 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 in numerous cities in Fujian Province including Quanzhou, Shishi, Jinjiang and Nan'an.

The contract, signed with advertising agency Fujian Taoping IoT Limited, is expected to generate 2017 sales and service revenue to CNIT of about $1 million.

Today's news follows a May 30 release announcing CNIT's $2 million sale of 7,000 ad terminals to be installed this year in Shenzhen and a May 22 announcement on the company's $1.5 million sale of 5,000 terminals to be installed by year-end in Shanghai. As was the case with those contracts, the Fujian sale is 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 very pleased to complete these three new sales agreements for 15,000 of our cloud-based ad terminals," said Mr. Lin. "As previously stated, we are on track to reach or exceed our estimate to sell 60,000 cloud-based ad terminals for $17.5 million in 2017."

Mr. Lin added he remained "highly confident" that CNIT will produce break-even status or moderate profitability in the second half of the year.

About China Information Technology, Inc.
China Information Technology, Inc. (CNIT) is a leading Internet service company that provides integrated cloud-based solutions enabling innovation and smart living in the fields of new media, elevator safety management, education, etc. Through continuous innovation, CNIT is aiming to leverage its proprietary Cloud-Application-Terminal technology to level the competitive landscape in the new media industry and deliver value for its shareholders, employees, customers, and the community. To learn more, please visit http://www.chinacnit.com.

Safe Harbor Statement
This press release may contain certain "forward-looking statements" relating to the business of China Information Technology, Inc., and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are "forward-looking statements" in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as "believes", "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

For further information, please contact:

China Information Technology, Inc.
Iris Yan
Tel: +86-755-8370-4767
Email: IR@chinacnit.com


Eisenberg Communications
Jimmy Caplan
Tel: +512-329-9505
Email: jimmycaplan@me.com

Media Relations:
Rick Eisenberg
Tel: +212-496-6828
Email: eiscom@msn.com