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CNIT Entered Into Strategic Agreement with the $1.6 Billion Shenzhen Capital Group
[May 05, 2015]

CNIT Entered Into Strategic Agreement with the $1.6 Billion Shenzhen Capital Group


SHENZHEN, China, May 5, 2015 /PRNewswire/ -- China Information Technology, Inc. (the "Company" or "CNIT") (Nasdaq GS: CNIT), a leading provider of integrated cloud-based platform, exchange, and big data solutions in China, today announced that it has entered into a strategic agreement with Shenzhen Capital Group Co., Ltd ("Shenzhen Capital").

Pursuant to the agreement, Shenzhen Capital will collaborate with the Company in exploring new investment opportunities in the cloud computing technology space. It will also assist the Company on an as-needed basis with its market expansion throughout China.

As a leading venture capital firm in China, Shenzhen Capital has RMB10.0 billion (USD1.6 billion) of assets under management. Shenzhen Capital has helped over 500 portfolio companies grow in sectors ranging from information technology and telecommunication to pharmaceutical and new material. The Shenzhen Capital investment team consists of nearly 200 professionals, 40% of whom hold doctorate or dual master degrees. Its major shareholders include Shenzhen State-owned Assets Supervision and Administration Commission.

Mr. Jiang Huai Lin, Chairman and CEO of CNIT, commented, "We are excited to have Shenzhen Capital as our strategic partner. Working together, we will stay abreast of the latest development in cloud computing technology and stay on the cutting edge of innovation. Shenzhen Capital's financial prowess can help us greatly shrink our time to market and accelerate our speed of expansion. More importantly, its domain expertise and industry connections in information technology can help us quickly cross the chasm of market demand and pave our way towards steady and sustainable growth."

<>About China Information Technology, Inc.



China Information Technology, Inc. (CNIT) is on a mission to make advertising accessible and affordable for businesses of all sizes. CNIT is a leading Internet service company that provides cloud-based platform, exchange, and big data solutions enabling innovation and smart living in the education, health care, new media, finance and transportation sectors. Through continuous innovation, CNIT is leveraging 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 Technology, Inc. 
Robin Yang, CFO
Tel: +86-755-8831-9888
Email: [email protected]

Grayling
Shiwei Yin
Investor Relations
Tel: +1.646.284.9474
Email: [email protected]

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cnit-entered-into-strategic-agreement-with-the-16-billion-shenzhen-capital-group-300077527.html

SOURCE China Information Technology, Inc.


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