BEIJING , Feb. 28 /Xinhua-PRNewswire-FirstCall/ -- China TransInfo Technology Corp., (OTC Bulletin Board: CTFO), (" China TransInfo" or "the Company"), a leading provider of public transportation information systems technology and comprehensive solutions in the People's Republic of China ("PRC"), announced today its in-vehicle LED GPS monitoring and coordinating terminal equipment platform (the platform) has received the Most Innovative Information Technology Product Award in the 2007 Beijing Top Ten Information Technology Innovation Competition.
Held by the Beijing Information Office and the Beijing Municipal Government on an annual basis, the event is one of the most prestigious regional competitions to evaluate and encourage the development of Beijing's information technology industry. During the 2007 competition, China TransInfo's platform outperformed over 200 competing candidates to earn an award at the event. In total, 10 winners were selected in the competition.
"We are very excited to receive this award," stated Mr. Shudong Xia , China TransInfo's CEO. "We regard this recognition by our industry peers as a confirmation of China TransInfo's superior technology and outstanding product quality. We aim to maintain these high standards as we continue to expand our operations."
China TransInfo's LED GPS monitoring and coordinating CPE equipment has received overwhelmingly positive feedback from government and public users since its inception due to its ability to effectively organize public transportation, improve taxi administration and security management, and streamline urban security surveillance systems. The platform can also be used for public announcements, real time news broadcasting, and multimedia advertisement. As of January 2008 , the platform has been successfully launched in Urumqi and Huhhot and will eventually be deployed in more cities across China .
About China TransInfo
China TransInfo, through its subsidiary Beijing PKU ChinaFront High Technology Co., Ltd. ("PKU"), is primarily focused on providing transportation information services. The Company aims to become the largest transportation information product and comprehensive solutions provider, as well as the largest integrated transportation information platform and commuter traffic media platform builder and operator in China . China TransInfo is involved in developing multiple applications in transportation, digital city, land and resource filling system based on GIS technologies which is used to serve the public sector. In addition, the Company is also developing its transportation system to include ETC technology. The Company is the co-formulator to several transportation technology national standards and has software copyrights for to 13 software products. China TransInfo has won 3 of 4 model cases sponsored by PRC Ministry of Communications. The Company's affiliation with Peking University, which currently owns 5% of PKU, provides access to the University's GeoGIS Research Laboratory, including 30 Ph.D. researchers. As a result, the Company is currently playing a key role in setting the standards for electrified transportation information solutions.
Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements". All statements other than statements of historical fact included herein are "forward-looking statements". 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. You 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.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.
For more information, please contact: China TransInfo Technology Corp. Mr. Troy Mao, CFO Tel: +86-135-2062-7195 (Beijing) Email: [email protected] CCG Elite Investor Relations Inc. Mr. Crocker Coulson, President Tel: +1-646-213-1915 (New York) Email: [email protected]SOURCE China TransInfo Technology Corp.
