SHENZHEN, China, April 17 /Xinhua-PRNewswire/ -- China Public Security Technology, Inc., (OTC Bulletin Board: CPBY) ("China Public Security" or "the Company"), a leading public security informationization and Geographic Information System (GIS) software solutions and service operator in China, today announced that iASPEC, its exclusive contracting partner, has been awarded a $3.2 million contract by Shenzhen General Station of Exit and Entry Frontier Inspection for its Border Control Close-circuit Television Monitoring and Information Management System and for its Fast Anti-stowways Monitoring and Control System, with 100% of the value of the contract subcontracted to Bo Hai Wen, a China Public Security subsidiary. This contract is one of many highlighted contracts to mark the 10th Anniversary of Hong Kong Handover to China.
China Public Security's systems will be implemented at the Shenzhen border, one of the busiest inland gateways in China, requiring high standards in terms of both system safety and system integration, in order to manage the rapidly growing volume of passenger and cross boarder vehicle traffic. The Border Control Close-circuit Television Monitoring and Information Management System will be implemented at the Futian Gateway, the largest passenger border checkpoint in China, while the Fast Anti-stowways Monitoring and Control System will be implemented at the Shenzhen Bay Gateway, the largest inland border in Asia.
"We are very pleased to announce another important contract win for our border control system solution, representing a testament to the competitiveness of the Company's public security software and system integration capabilities," said Mr. Jiang Huai Lin, the Company's CEO. "Most importantly, this successful contract win landmarks our penetration in the surveillance product market. In the future, we will consolidate our strength in software development and system integration with our accumulated hardware installation experience to enrich our product offerings to customers."
About China Public Security Technology, Inc.
Through its indirect wholly-owned Chinese subsidiary, China Public Security Technology, Inc. is a leading provider of public security informatization and real-time Geographic Information System (GIS) software solutions and operating services in China. The Company provides a broad portfolio of fully integrated products and services, including Consolidated Emergency Response or "Three-in-One" Platform, Police-use GIS, Civil-use GIS, Electronic Boarder Control System and other software sales and supporting services. The Company currently has the exclusive license of 16 patents in China, through its exclusive business turnkey agreement with Shenzhen iASPEC Software Engineering Company Limited (iASPEC). Under this agreement the Company acts as iASPEC's exclusive subcontractor to key customers, including Shenzhen City Immigration Boarder Check Station of Ministry of Public Security of PRC, Shantou City Public Security Bureau, Dongfang City Public Security Bureau of Hainan Province, Shenzhen City Traffic Police Bureau, Shenzhen City Public Security Bureau, China Unicom Shenzhen Division, Shenzhen Urban Planning Bureau and the Shenzhen Fire Department. To learn more about the Company, please visit the corporate website at http://www.chinapsh.com .
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.
