The goal of the Project is to upgrade and integrate all variations of PGIS systems throughout the country, in order to provide uniformity of standards, basic data, common technology and application mode characteristics; share information among different police divisions and regions across China; and enhance quick response capabilities for public emergencies. The Company's core PGIS technology was selected last year by China's Ministry of Public Security for use in standardizing PGIS technologies under the Project.
The Project will be implemented in 660 cities across China over the next 5 years and is expected to result in the standardization and interconnection of all PGIS systems in China. A total of 18 cities and provinces have been selected to participate in the first round of roll-out of the Project.
Mr. Jiang Huai Lin, Chairman and CEO of the Company, commented, "We are excited to win contracts representing one-third of the regions covered in the initial roll-out of the Project. We believe that these wins are a nod to our technological sophistication, proven track record, and contribution to the PGIS national standards. These wins are also an indication that our key products are effectively breaking into critical markets outside of the Guangdong region, notably in Shanghai, one of the largest cities in China and an emerging global financial center. We expect that Shanghai will serve as an anchor city for our further expansion into Eastern China, and will help to fuel our long-term goal to be the largest GIS provider in China. The new PGIS contracts also represent future opportunities for follow-on projects and maintenance contracts in these new markets once initial PGIS platforms are established. We expect that such recurring opportunities will establish our reputation in these new markets, and enable us to further penetrate them in the long-term."
About China Information Security Technology, Inc.
China Information Security Technology, Inc., together with its subsidiaries, specializes in Geographic Information System ("GIS"), digital public security and hospital information systems, and aims to be the largest GIS software provider in the People's Republic of China. Headquartered in Shenzhen, China, the Company's total solutions include specialized software, hardware, systems integration, and related services organized into three business segments - Digital Public Security Technology ("DPST"), Geographic Information Systems ("GIS"), and Digital Hospital Information System ("DHIS"). To learn more about the Company, please visit its corporate website at http://www.chinacpby.com .
Safe Harbor Statement
This press release may contain certain "forward-looking statements" relating to the business of China Information Security 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 Company's PGIS contract wins and its entry into new markets, including Shanghai; the ability of the Company to successfully perform its obligations under the PGIS contracts and penetrate such new markets in the long-term; the general ability of the Company to achieve its commercial objectives; 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.
For further information, please contact:
China Information Security Technology, Inc.
Iris Yan
Phone: +86-755-8370-4767
Email: ir@chinacpby.com
Web: http://www.chinacpby.com
Christensen
Kathy Li
Phone: +1-480-614-3036
Email: kli@christensenir.com
Roger Hu
Phone: +86-158-1049-5326
Email: rhu@christensenir.com
SOURCE China Information Security Technology, Inc.
| Contact: |
| China Information Security Technology, Inc.
Iris Yan of China Information Security Technology, Inc. Phone: +86-755-8370-4767 Email Contact Kathy Li Phone: +1-480-614-3036 Email Contact Roger Hu Phone: +86-158-1049-5326 Email Contact both of Christensen, for China Information Security Technology, Inc. Web: http://www.chinacpby.com |
