CNIT Signs $1.5 Million Cloud-Based Ad Terminal Contract for Shanghai; Company Projects Total 2017 Cloud-Based Ad Terminal Revenue of $17.5 Million...

Shenzhen, China–(Newsfile Corp. – May 22, 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 contract with an advertising agency in Shanghai for the sale of 5,000 CNIT cloud-based elevator ad terminals to be installed in that city by the end of the year. The contract, signed with Shanghai Liangyu Communications Technology Limited, is expected to produce combined 2017 sales and service revenue to CNIT of over $1.5 million. In addition, said CNIT, the sale should help generate recurring revenue arising from customers’ use of the company’s Yunfa Net system (www.cnitiot.com), which permits an advertiser to create reduced-cost ads on a PC or mobile app, instantly 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 the company’s elevator ad terminals may also opt to subscribe to Yunti Guard, CNIT’s recently introduced IoT elevator safety solution that delivers a wide selection of state-of-the-art safety features never available together in a single elevator maintenance product. “We are very excited to have signed this sales agreement,” said CEO Mr. Jianghuai Lin. “Shanghai is one of China’s Tier-1 cities and has a very productive market demonstration effect throughout our country.” Mr. Lin said he expects CNIT to sell a minimum of 60,000 cloud-based ad terminals in 2017. Besides Shanghai, these installations are expected to cover Beijing, Guangzhou, Shenzhen, and 16 major cities in eastern and southern China, he said. Revenue on the expected sales of 60,000 ad terminals should be at least $17.5 million in 2017, said Mr. Lin. CNIT had total company revenue in 2016 of $10.2 million. “As of today, CNIT has established an innovative new-media eco-system comprised of a cloud platform, numerous apps and cloud-based terminals, all of which combine to enable internet-based ad delivery and management and exchange of available screen time,” said Mr. Lin. “We expect this eco-system to bring many advertising customers considerably more revenue while significantly cutting their costs. These advantages, we believe, will help to change the competitive landscape of the advertising market in China.” 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...

Takung Art Reports Financial Results for the First Quarter of 2017...

HONG KONG, CHINA / May 15, 2017 / Takung Art Co., Ltd. (NYSE: TKAT) (“Takung” or the “Company”), an online trading platform which facilitates art collectors and art-interested investors to gain and trade shared ownerships in Asian fine arts, today announced its unaudited financial results for the first quarter ended March 31, 2017. First Quarter 2017 Highlights Revenue increased 12.7% YoY to $4.3 million from $3.8 million. Gross profit increased by 13.7% YoY to $4.0 million from $3.5 million. Gross margin increased 77 basis points YoY to 93.9% compared to 93.1%. Net income decreased YoY to $0.9 million from $1.1 million largely due to higher G&A expenses related to business development activity. Net cash provided by operating activities was $2.1 million, a 69.4% YoY increase from $1.3 million. Mr. Di Xiao, Chairman and CEO of Takung, commented, “We are pleased to report another quarter of growth during one of our seasonally slower periods due to the Chinese New Year holiday, highlighted by increases in revenue and gross profit over the prior year first quarter period. Our gross profit margin also increased slightly to 94% of sales which is a testament to the strength of our business model. Our net income was lower largely due to infrastructure and R&D investments to support Takung’s long term growth and development. We are proud that our business consistently generates net cash, including $2.1 million in the first quarter, which represents our third consecutive quarter of net cash generation. “We have been focused on several important initiatives in recent months to further enhance our trading platform and brand visibility. First, by further developing Takung’s brand awareness, we believe more artists will be inclined to list artworks of increased value on our platform and generate greater listing fees for Takung in the future. We are optimistic that our recent transition to the New York Stock Exchange will boost our profile and help to attract more valuable artwork, antiques, gemstones and jewelry for listing on our platform. In the first quarter, we made progress increasing the value of new listings. While the total number of new listings was down by 25% compared to the fourth quarter of 2016, the average new listing value increased to approximately $352,000 per listing in the first quarter of 2017 from approximately $189,000 per listing for all of 2016. “Second, we have taken meaningful steps to further enhance the trading liquidity of our platform. As a result, transactions totaled $4.7 billion in the first quarter of 2017, a 483% increase from $813 million in the first quarter of 2016. This growth is largely due to the special commission arrangements we now offer to high volume traders. This includes capping commission fees paid by large traders once certain quotas have been met. Platform liquidity not only encourages investors to buy units since they know a market exists to sell those units, but, increased liquidity in the first quarter drove commission fee revenue to its highest level since the new commission structure was introduced in early 2016. In the future, we intend to offer additional marketing programs to our high volume traders which can help generate additional liquidity and increased revenue for Takung. “To support and expand Takung’s growth, our investment in R&D for the first quarter of 2017 increased over the first quarter of 2016. We are working on a number of exciting new R&D initiatives that can help drive sales and profits for our business in the years ahead, including Takung Online,...

TAKUNG TO ANNOUNCE Q1 2017 FINANCIAL RESULTS ON MAY 15 AT 4:30PM EDT; WILL HOST CONFERENCE CALL ON MAY 16 AT NOON EDT...

HONG KONG, May 11, 2017 – Takung Art Co., Ltd. (NYSE MKT: TKAT), an online platform for acquiring shared ownership units in Asian and other fine art, jewelry and precious gems, today announced it will release its first quarter 2017 financial results on Monday, May 15, 2017 at 4:30 p.m. EDT and host a conference call the following day at Noon EDT. To participate in this conference call, please dial (Toll Free) 877-407-8133 domestically or 201-689-8040 internationally, approximately five to ten minutes before the beginning of the call. For participants calling from China, please dial (Toll Free): 864 001 202 840. You may access the teleconference replay by dialing (Toll Free) 877-481-4010 domestically or 919-882-2331 internationally, referencing conference ID #10395. The replay will be available approximately 30 minutes after the completion of the live event, and end at 11:59 p.m. on May 23, 2017. An audio recording of the conference can also be accessed at http://ir.takungart.com/presentations within 30 minutes after the completion of the call. 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 Assets and Equity of Artworks Exchange Co. Ltd., Takung (Shanghai) Co., Ltd., and Takung Cultural Development (Tianjin) Co., Ltd. FORWARD-LOOKING STATEMENTS This press release may contain projections or other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. Contacts: Takung Art Co., Ltd. Leslie Chow +852 31580977 leslie.chow@takungae.com Asia IR-PR – Investor Relations Jimmy Caplan 512-329-9505 jimmy@asia-irpr.com Asia IR-PR – Media Relations Rick Eisenberg 212-496-6828 rick@asia-irpr.com SOURCE: Takung Art Co.,...