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Last $5.53 USD
Change Today +0.32 / 6.14%
Volume 300.7K
CNIT On Other Exchanges
Symbol
Exchange
NASDAQ GS
Frankfurt
As of 8:10 PM 04/27/15 All times are local (Market data is delayed by at least 15 minutes).

china information technology (CNIT) Key Developments

China Information Technology, Inc. expected to report First-Half, 2014 results on April 28, 2015. This event was calculated by Capital IQ (Created on April 22, 2015).

China Information Technology, Inc. expected to report First-Half, 2014 results on April 28, 2015. This event was calculated by Capital IQ (Created on April 22, 2015).

China Information Technology, Inc. Signs Strategic Agreement with Luoyang Hi-Tech Zone to Establish Regional Cloud Computing Center in Luoyang City

China Information Technology, Inc. entered into a strategic agreement with the Luoyang National Hi-Tech Industrial Development Zone to establish the company's regional cloud-computing center in Luoyang City of Henan Province. CNIT will build a new regional cloud-computing center in the Luoyang Hi-Tech Zone to provide cloud-based services for customers in Luoyang City and Henan Province. In addition to preferential tax treatments from the Luoyang Hi-Tech Zone, the new facility will also enjoy free office space, supportive human resource policies and assistance in local hiring. The company will apply Internet technologies in data analytics, cloud computing, Internet-of-Things, and mobile Internet to improve work and lifestyles in Luoyang. In addition, it is expected that the CNIT cloud computing solutions will also help local companies obtain and manage operational data, help companies better understand customer needs and improve user experiences, and meet the needs of small- and medium-sized companies for new media-based marketing and promotions.

China Information Technology Signs Strategic Agreement with Luoyang Municipal Government

China Information Technology (CNIT) has signed a strategic agreement with the Luoyang municipal government to install 300 units of the CNIT cloud-based digital display terminals at Central Business District and transportation hubs of Luoyang City, as part of the preparation for the city's 2015 Annual Peony Festival, which is held from 4 April to 5 May, 2015. According to the agreement, the company will install 300 units of its large-scale, cloud-based digital displays at high-traffic venues such as the Peony Festival venues, airports, highs-speed railway stations, bus stops, hotels and department stores.

China Information Technology, Inc. Announces Unaudited Consolidated Earnings Results for the Second Half and Full Year Ended December 31, 2014

China Information Technology, Inc. announced unaudited consolidated earnings results for the second half and full year ended December 31, 2014. For the second half, the company’s revenue was $38.2 million, compared to $38.9 million in the same period of 2013, a slight decrease of $0.7 million, or 1.8%. The increase in software and systems integration sales mostly offset the decline in hardware sales during the company's transition from a hardware manufacturer to a software developer. Loss from operations was $29.5 million in the second half of 2014, considerably lower than a loss of $67.7 million in the same period of 2013. Net loss attributable to the company decreased by $39.4 million to $29.3 million in the second half of 2014, from a net loss of $68.7 million in the same period of 2013. Cash used in operating activities amounted to $8.0 million. In the same period of 2013, cash provided by operating activities amounted to $2.1 million. Adjusted net income was $1,544,793 or $0.05 per basic and diluted share compared to adjusted net loss of $650,400 or $0.02 per basic and diluted share a year ago. For the period, the company reported total revenue of $68,157,699 compared to $76,145,384 a year ago. The decrease was primarily due to the company's strategic transition from the public sector to the private sector and from hardware manufacturing to software development. Loss from operations was $29,959,364 compared to $119,376,579 a year ago. Loss before income taxes was $34,141,199 compared to $120,309,482 a year ago. Net loss attributable to the company was $29,231,347 or $0.96 per basic and diluted share compared to $119,236,823 or $4.36 per basic and diluted share a year ago. Net cash used in operating activities was $12,629,525 compared to $11,377,540 a year ago. Purchases of property and equipment were $861,673 compared to $2,041,270 a year ago. Adjusted net loss was $1,811,174 or $0.06 per basic and diluted share compared to adjusted net income of $355,273 or $0.01 per basic and diluted share a year ago.

Luoyang City Selects China Information Technology, Inc. to Promote its 2015 Annual Luoyang Peony Festival

China Information Technology, Inc. announced that the company has been selected by Luoyang City to promote its 2015 Annual Luoyang Peony Festival using the company's cloud-based new media solutions. The company also won the sole naming right to the Festival and its opening ceremony. The 33rd Annual Peony Festival will be held from April 4 to May 5, 2015 in Luoyang City of Henan Province. During the Festival, the company will deploy large-scale, cloud-based digital display terminals throughout Luoyang to broadcast festival highlights, various programs on city sightseeing, sports contests, exhibitions and tradeshows, as well as advertisements. To be installed at high-traffic venues such as the airport, department stores, hotels and residential communities, the CNIT display terminals will also display festival-related public information and local lifestyle guides.

 

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