CNIT Signs Follow-up Sale of Cloud-based Elevator Ad Terminals for Beijing and Shanghai...

SHENZHEN, CHINA / ACCESSWIRE / January 17, 2017 / China Information Technology, Inc. (NASDAQ: CNIT), a provider of cloud-app technologies for city IoT platforms, digital ad delivery and other internet-based information distribution systems, today announced it signed a follow-up contract with a leading elevator ad agency for the sale of 4,000 CNIT cloud-based elevator ad terminals to be installed this year in Beijing and Shanghai. This contract, signed with Haojing (Xiamen) Culture Media Co., Ltd., follows the parties’ April 2016 agreement carrying a non-binding clause for Haojing to purchase a total of 60,000 to 80,000 terminals from CNIT over the ensuing three years. The 4,000 terminals, to be installed in office buildings, hotels, shopping malls and residential communities, will provide sales revenue to CNIT of RMB 15.8 million, or about $2.3 million. CNIT will also receive recurring monthly fees derived from customers’ use of Yunfa Net (www.pubds.com), the company’s cloud-based content delivery platform enabling advertisers to design and transmit ads to terminals of their choice. “This sale really strengthens our foothold in Beijing and Shanghai – two cities with immense showcase value for our products,” said CEO and chairman, Mr. Jianghuai Lin. “Not only will this installation help us feature our terminals in the center of China’s two premier cities, it will also demonstrate to many potential advertisers and other industry clients the many advantages of our proprietary cloud-app technology and Yunfa Net, a service we anticipate will produce our highest margin revenue.” The CEO added he believed CNIT is “absolutely on track” to turning profitable in the second half of 2017, and that he intends to comment on this subject “with regularity.” 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, city 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...

TAKUNG REPORTS $1.60 BILLION IN MONTHLY ONLINE TRADING TRANSACTIONS FOR DECEMBER...

Hong Kong, January 9, 2017 — Takung Art Co., Ltd. (OTCQB:TKAT), an online platform for acquiring shared ownership units in Asian and other fine art, jewelry and precious gems, today said it processed transactions totaling US$1.60 billion in the 20-day trading month of December 2016, a 254 percent increase on total transactions of US$451.22 million recorded in the 22-day trading month of December 2015. Trading transactions on Takung’s platform for calendar/fiscal 2016 totaled US$9.37 billion, a 302 percent increase on the US$2.33 billion transacted in 2015. The platform’s average daily trading volume of 104.3 million units in December is a 419 percent increase on the average of 20.1 million units traded daily in December 2015. Average daily trading volume in the fourth quarter of 2016 exceeded 106 million units, compared with just under 20 million units trading daily in the comparable year-ago period. “The year-over-year progression in trading activity,” said CEO Di Xiao, “was fueled primarily by the strong interest in the 126 new artwork listings placed onto the company’s platform in 2016, as well as by Takung’s referral incentive program offering commission rebates to certain traders and service agents and flat monthly trading rates for VIP traders.” These measures, said Mr. Xiao, led to a “steady and significant increase” in the number of platform participants throughout 2016. “At the rate these numbers are progressing, we are optimistic that 2017 is going to be a terrific year for Takung,” said the CEO. The company’s performance, he added, would likely be further buoyed by the addition of 12 new listings in December and six more on January 3, 2017, raising the total number of artworks trading on its platform to 181. Since December 2013, Takung has provided a way for art collectors and investors to buy and sell ownership units in valuable paintings, calligraphies, jewelry and precious gems. Takung’s unique approach is to divide selected artwork into equal ownership units based on its appraised value. Traders can then buy and sell these units online via a client app available for download from the company’s commercial website. While most of the traders on the platform are currently located in mainland China, Takung announced last year an expansion of operations to increase its trader base with residents of Russia, Mongolia, Australia and New Zealand. Takung generates revenue primarily from listing fees ranging from 22.5 to 48.5 percent of the artwork’s offering price, as well as recurring revenue from trading commissions and management fees. There are two types of listings on the Takung site – an individual artwork or a portfolio of several pieces. Most of the listed artworks trade actively and have shown significant appreciation following their initial sale and introduction on the site. Each listing – with its initial offering price and current price and value – can be found on Takung’s corporate website at http://www.takungart.com/portfolio/listed-artwork. ABOUT TAKUNG ART CO., LTD: www.takungart.com Based in Hong Kong, Takung Art Co., Ltd. is an online trading platform for acquiring shared ownership in Asian and other fine art, jewelry and precious gems. This proprietary platform allows collectors and investors – including those with modest financial resources — to buy and sell units of these assets and participate in the booming Asian art market. The company’s shared-ownership business model significantly expands the number of interactions between sellers and buyers of fine art far beyond those generated by art galleries and auction houses alone. Takung operates its online trading platform via three wholly-owned subsidiaries, Hong Kong Takung...