Agreement Marks Step toward Standardization in China's Digital TV Industry
BEIJING, Aug. 24 /PRNewswire-Asia/ -- China Digital TV Holding Co., Ltd. (NYSE: STV) ("China Digital TV" or the "Company"), the leading provider of conditional access systems to China's expanding digital television market, today announced that the company has signed an exclusive contract with Jinzhong Broadcasting Television Network Co., Ltd (Jinzhong TV Network), a municipal cable operator in central Shanxi province, to provide proprietary cross-platform set-top box software solutions on all digital TV set-top boxes in the operator's jurisdiction covering approximately 300,000 cable subscribers.
China Digital TV's set-top box software solutions allow cable operators to offer applications such as video-on-demand, time shifting and TV gaming under a unified interface and to expand and upgrade their services across set-top boxes provided by multiple manufacturers.
"Our cooperation with Jinzhong TV Network is a key milestone in China Digital TV's long-term strategy to develop our value-added services business and represents a step toward standardization in China's digital TV industry," commented Mr. Dong Li, president of China Digital TV. "China Digital TV's set-top box software solutions will allow cable operators to build and continuously upgrade various TV applications on their existing network infrastructure. We believe our solutions will see strong demand from operators and we are excited to be a driving force behind the development of China's VAS market."
Mr, Li noted that the lack of universal standards in China's digital TV industry has been a major roadblock to providing value-added services to TV viewers.
Mr. Ning Wang, Jinzhong TV Network's General Manager commented, "We are pleased to expand our cooperation with China Digital TV from conditional access solutions to set-top box software. In the past years, China Digital TV has provided us with industry-leading conditional access solutions and demonstrated its innovative technology, strong engineering capability and high quality service. We are confident that this new cooperation will help us accelerate the launch of more services on Jinzhong TV Network's digital TV platform."
About China Digital TV
Founded in 2004, China Digital TV is the leading provider of CA systems to China's expanding digital television market. CA systems enable television network operators to manage the delivery of customized content and services to their subscribers. China Digital TV conducts substantially all of its business through its PRC subsidiary, Beijing Super TV Co., Ltd., and its affiliate, Beijing Novel-Super Digital TV Technology Co., Ltd., as well as subsidiaries of its affiliate.
For more information please visit the Investor Relations section of China Digital TV's website at http://ir.chinadtv.cn .
Safe Harbor Statements
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "may," "should" and similar expressions. Such forward-looking statements include, without limitation, statements regarding the comments by management in this announcement about trends in the CA systems, digital television, cable television and related industries in the PRC and China Digital TV's strategic and operational plans and future market positions. China Digital TV may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about China Digital TV's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from projections contained or implied in any forward-looking statement, including but not limited to the following: competition in the CA systems, digital television, cable television and related industries in the PRC and the impact of such competition on prices, our ability to implement our business strategies, changes in technology, the structure of the cable television industry or television viewer preferences, changes in PRC laws, regulations or policies with respect to the CA systems, digital television, cable television and related industries, including the extent of non-PRC companies' participation in such industries, and changes in political, economic, legal and social conditions in the PRC, including the government's policies with respect to economic growth, foreign exchange and foreign investment.
Further information regarding these and other risks and uncertainties is included in our annual report on Form 20-F and other documents filed with the U.S. Securities and Exchange Commission. China Digital TV does not assume any obligation to update any forward-looking statements, which apply only as of the date of this press release.
For investor and media inquiries, please contact:
In China:
Eric Yuan
China Digital TV
Tel: +86-10-8279-0021
Email: ir@chinadtv.cn
Cynthia He
Brunswick Group LLC
Tel: +86-10-6566-9504
Email: che@brunswickgroup.com
In the US:
Kate Tellier
Brunswick Group LLC
Tel: +1-212-706-7879
Email: ktellier@brunswickgroup.com
