China Information Technology, Inc.
CNIT and NDMT Enter Into Exclusive Distribution Agreement in Taiwan
CNIT and NDMT Enter Into Exclusive Distribution Agreement in Taiwan SHENZHEN, China, April 23, 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 the company has entered into an exclusive distribution agreement with NowNews Digital Media Technology Co. Ltd. (OTCQB: NDMT), a U.S. listed media holding company focusing on the global Chinese market that provides news and multimedia platform services. The new partnership is belived to be a strong strategic fit, leveraging the two leading companies’ strengths to dig into the ditigal advertising market in Taiwan. According to the agreement, NDMT will act as the exclusive partner of CNIT in Taiwan to promote CNIT’s new-media sharing business. NDMT’s majority-owned subsidiary NOWnews is the largest online self-produced news content provider in Taiwan and the only Taiwanese online news website fully accessible in Mainland China. “We are thrilled to partner with NDMT,” said Mr. Jianghua Lin, Chairman and CEO of CNIT, “NDMT has established powerful influence in its market as one of the most-visited news websites in Taiwan. We believe that this partnership will strategically enhance our expansion plans in 2018 as we are devoted to providing best-in-class service to a growing and diversified client base.” “We are excited to begin working with CNIT,” said Mr. Shang-Hong Lin, Executive Director of NDMT, “We are impressed by the innovation of Taoping new-media sharing ecosystem and its significant influence in the market. We look forward to partnering with CNIT to bring an interative advertising solution to our community and drive business growth in this niche market.” About China Information Technology, Inc. China Information Technology, Inc. (Nasdaq: 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 About NowNews Digital Media Technology Co. Ltd. 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. China Information Technology, Inc.
23/04/2018 Dissemination of a Financial Press Release, transmitted by EQS Group. |