CNIT Receives $3 Million Cloud-Based Ad Terminal Order for Zhejiang Province
SHENZHEN, CHINA / ACCESSWIRE / September 6, 2017 / China Information Technology, Inc. (CNIT), a provider of cloud-app-terminal technology for internet-based ad distribution and ad display terminal sharing systems in China, today said it has entered into contract for the sale of 10,000 CNIT cloud-based ad terminals to be installed in office buildings, residential communities, shopping malls and various outdoor locations throughout Zhejiang Province, the fourth largest provincial economy in China.
Signed with advertising agency Zhejiang Taoping IoT Technology Limited, the contract is expected to generate sales and service revenue to CNIT of $3 million. The agreement - CNIT's third this year for the sale of its cloud-based ad terminals in East China - follows up the $1.5 million contract for Shanghai and $1 million contract for Anhui Province.
Today's news is the tenth 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.
"This contract continues the rapid acceleration of the expansion of our cloud-based ad terminal and platform service business," said chairman and CEO Mr. Jianghuai Lin. As a result of this agreement, he said, CNIT has laid the foundation for achieving its 2018 goals of revenue of $30 to $33 million, adjusted net income of $9 to $11 million, and selling an additional 120,000 cloud-based ad terminals with market penetration in 100 cities and IoT network coverage of 200 million people throughout China.
The CEO added he expected to announce additional contracts for the company's cloud-based ad terminals "in the near future."
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.
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SOURCE: China Information Technology, Inc.
