BEIJING, July 16 /PRNewswire-Asia/ -- China TransInfo Technology Corp., (Nasdaq: 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"), today announced that it has received approval from Nasdaq Stock Market to transfer the listing of its common stock from the Nasdaq Capital Market to the Nasdaq Global Market. The trading of the Company's common stock on the Nasdaq Global Market will become effective on July 17, 2009. The trading symbol for China TransInfo's common stock will remain "CTFO."
"China TransInfo has achieved exceptional growth due to execution of our business strategy and the implementation of our capital markets strategy. As a result, we now meet the more stringent criteria required by the Nasdaq Global Market," commented Mr. Shudong Xia, Chief Executive Officer of China TransInfo. "Looking forward, we will continue our efforts to increase China TransInfo's visibility in the investment community and honor our commitment to building long-term, sustainable value for our shareholders."
About China TransInfo
China TransInfo, through its affiliate, China TransInfo Technology Group Co., Ltd., (the "Company") and the Group Company's PRC operating subsidiaries, is primarily focused on providing transportation information services and comprehensive solutions based on GIS technologies. The Company aims to become the largest transportation information products and comprehensive solutions provider, as well as the largest real time transportation information platform operator and provider in China. In addition, the Company is developing its transportation system to include Electronic Toll Collection (ETC) technology. As the co-formulator of several transportation technology national standards, the Company owns software copyrights for 75 software products and has won 5 of the 10 model cases sponsored by the PRC Ministry of Communications. The Company's affiliation with Peking University provides the Company access to the University's GeoGIS Research Laboratory, including 30 Ph.D. researchers. As a result, the Company is playing a key role in setting the standards for electronic transportation information solutions. For more information, please visit the Company's website at http://www.chinatransinfo.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.
For more information, please contact:
Company Contact:
Ms. Fan Zhou, Investor Relations Director
China TransInfo Technology Corp
Tel: +86-10-8267-1299 x8033
Email: ir@ctfo.com
Investor Relations Contact:
CCG Investor Relations
Mr. Crocker Coulson, President
Email: crocker.coulson@ccgir.com
Tel: +1-646-213-1915 (NY office)
Shaun Smolarz, Financial Writer
Email: shaun.smolarz@ccgir.com
Tel: +1-310-279-6126
Web: http://www.ccgirasia.com
