In January 2011, Shuohuang Railway commissioned the Company to contribute its sophisticated GIS systems to the Shuohuang Railway Geographic Information System (SR-GIS). On June 1, 2011, a special appraisal meeting was held in Beijing to plan the further implementation of the new SR-GIS. The project, undertaken by the Company's controlled entity Wuda Geo Informatics Co., Ltd. ("Wuda Geo"), recently acquired all necessary approvals for its use. The GIS system itself has won expert praise for its comprehensive professional equipment management capabilities, which include the simultaneous management of trains, automobiles machines, labor and electricity that are within the same geographical space.
The Shuohuang railway system is one of the main transportation channels for China's National West-to-East Coal Transfer project, and carries over 350 tons of coal annually across the country.
Mr. Jiang Huai Lin, Chairman and CEO of China Information Technology, commented, "We are very pleased by the rapid pace at which this project has progressed, and we are excited to see it finally implemented across the Shuohuang railway. We believe the SR-GIS will significantly modernize and streamline this critical rail system. Our years of experience in GIS research and design, and a long track record of successfully executed projects, made us the ideal GIS provider for this mission-critical project. With our superior R&D capabilities and first-mover status, we expect to continue expanding our market share of GIS in China through rail and other new industries."
About China Information Technology, Inc.
China Information Technology, Inc., through its subsidiaries and other consolidated entities, specializes in information technologies and display technologies. Headquartered in Shenzhen, China, the Company's integrated solutions include specialized software, hardware, systems integration, and related services. To learn more about the Company, please visit its corporate website at 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 subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the significance of the advancement of Shuohuang Railway GIS Project; the general ability of the Company to achieve its commercial objectives, including the Company's abilities to expand its market share in China's GIS industry, and its plan to sustain the growth while creating shareholder value; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology 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 or persons acting on its 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.
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SOURCE China Information Technology, Inc.
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Shuohuang Railway Development Co., Ltd.