SHENZHEN, China, April 23, 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 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.”
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.
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.
NowNews Digital Media Technology Co. Ltd. is a U.S.-listed media holding company focusing on the global Chinese market. The company's holdings in the media space include digital media, movie production and distribution, and music copyright. The digital media business engages in creating, collecting and distributing news and information through its website and applications on mobile phones or tablets. The company’s subsidiary NOWnews is the largest online self-produced news content provider of Taiwan and the only Taiwanese online news website fully accessible in Mainland China. The movie production and distribution business engages in Internet movie, Internet drama and Internet show production, foreign movie import and production, movie marketing and advertising, and Internet personality business. The company’s music copyright business owns copyright to more than 3000 hit pop songs and provides a full range of Karaoke products. In addition, the company has investments in the banking industry in Southeast Asia.
For further information, please contact: