CNIT Introduces Advanced IoT Elevator Safety Solution
SHENZHEN, China, March 28, 2017 -- China Information Technology, Inc. (Nasdaq:CNIT), a provider of cloud-app technologies for Internet-of-Things (IoT) platforms and internet-based ad and information distribution systems in China, today said it has introduced a sophisticated IoT elevator solution designed to significantly improve passenger safety.
This solution, comprised of a CNIT elevator IoT cloud platform, IoT terminal and mobile app, “Yunti Guard,” provides a comprehensive three-in-one IoT and internet-based system that automatically delivers a wide selection of state-of-the-art safety features never available together in a single elevator maintenance product. The first component of this solution is a cloud-based intelligent management platform that allows multiple elevators in a common network to exchange real-time information and safety status with the centralized cloud platform. The platform automatically generates an elevator maintenance schedule, collects and stores elevator operation data, and notifies the appropriate property management or elevator service personnel when standard maintenance functions need to be performed as well as when any elevator emergency arises.
The second component of the solution is a low-cost IoT terminal, “Cloud Box,” that can be easily installed inside the elevator. The Cloud Box, which requires no external power supply, allows the elevator to instantly communicate along a network and utilize the above mentioned features of the intelligent management platform. The Cloud Box can interact with the cloud-based platform and mobile app (described below) via bluetooth 4.0 technology, featuring an internal battery that lasts two to three years.
Thirdly, the Yunti Guard mobile app permits remote real-time monitoring of an elevator’s operational condition and maintenance needs, and is compatible with both Apple IOS and Android devices.
Used together, the three components of the elevator IoT solution can provide “unparalleled maintenance and safety protection for the great majority of China’s four million elevators,” said CNIT CEO and chairman, Mr. Jianghuai Lin.
The CEO added that he believed the new solution would benefit from the current Chinese government emphasis on improving the safety of the nation’s elevators. “With our General Administration of Quality Supervision’s repeated demands for new and advanced systems to protect elevator passengers, we are optimistic that our elevator IoT solution will soon gain rapid acceptance in the market and begin producing meaningful revenue for CNIT.”
The company’s marketing plan, he said, would establish a nationwide dealer network comprised of joint venture partners or franchisees who would act as elevator IoT operator and end user service representative in each local market. Using this strategy, said Mr. Lin, CNIT expects by the end of this year to sell the solution – including about 100,000 Cloud Box units -- in as many as ten provinces and municipalities including Beijing, Tianjin, Shenzhen, Shandong, Jiangsu, and Henan.
By 2019, he added, CNIT could achieve nationwide coverage for the solution and sell up to 500,000 Cloud Box units. By that year, he projected, the company would also be receiving substantial revenue from both recurring IoT platform service fees and from sale of elevator-related data, stored on CNIT’s network, to property management companies, government entities, elevator maintenance companies and other users.
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 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.
Media Relations: Asia IR-PR