BEIJING, Jan. 21 /PRNewswire-Asia-FirstCall/ -- 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 the Company was ranked 11th on the 2010 Forbes China list of small-to-medium sized Chinese companies with the most potential. China TransInfo was the only transportation information technology company selected.
A total of two hundred publicly-traded and privately-held companies were recognized as possessing "the most potential" by Forbes China. The publication's sixth annual proprietary study covered more than 8,000 small- and medium-size companies in China with sales ranging from RMB 5 million (approximately USD $0.7 million) to 1 billion (approximately USD $146 million). The rankings were based on various metrics, including return on assets, return on equity, and three-year weighted average net income.
"We are truly honored to be selected as one of the companies with the most potential in China," commented Shudong Xia, Chief Executive Officer of China TransInfo. "We will continue to strengthen our product design and R&D capabilities to provide cutting-edge intelligent transportation systems and integrated solutions to meet the growing demand of China's transportation industry."
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:
China TransInfo Technology Corp.
Ms. Fan Zhou, Investor Relations Director
Email: ir@ctfo.com
Phone: +86-10-5169-1657
Investor Relations Contact:
CCG Investor Relations
Web: http://www.ccgirasia.com
Mr. Shaun Smolarz, Financial Writer
Email: shaun.smolarz@ccgir.com
Phone: +1-646-701-7444
Mr. Crocker Coulson, President
Email: crocker.coulson@ccgir.com
Phone: +1-646-213-1915
