BEIJING, Jan. 4 /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 the Company was awarded an RMB 26.6 million (USD $3.9 million) contract to design a comprehensive management and transportation emergency response center information system in the Minhang District of Shanghai.
China TransInfo will design a transportation emergency response command platform connecting 23 Shanghai city government agencies to Minhang District's emergency response command center. The transportation emergency response command platform will include a public transportation command and dispatch management system, hazardous chemical transportation vehicle management system, GIS application platforms, and a disaster recovery storage system. The project is expected to be completed by September 30, 2010.
"This contract signifies our market entry into Shanghai, a city of 18.9 million people and 1.3 million vehicles at year-end 2008," commented Shudong Xia, Chief Executive Officer of China TransInfo. "Since Shanghai will host the 2010 world Expo, we believe the city has the potential to be a key revenue contributor for us in 2010 as we expect to continue market expansion for our comprehensive transportation systems and solutions."
About China TransInfo
China TransInfo, through its affiliate, China TransInfo Technology Group Co., Ltd., (the "Group 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 88 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 over 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.
Email: ir@ctfo.com
Tel: +86-10-5169-1657
Investor Relations Contact:
CCG Investor Relations
Mr. Shaun Smolarz, Financial Writer
Email: shaun.smolarz@ccgir.com
Tel: +1-646-701-7444
Mr. Crocker Coulson, President
Email: crocker.coulson@ccgir.com
Tel: +1-646-213-1915
Web: http://www.ccgirasia.com
