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8-K - FORM 8-K - China Information Technology, Inc. | form8-k.htm |
Exhibit 99.1
China Information Security Technology Announces
Corporate Name Change to China
Information Technology, Inc.
- New NASDAQ Ticker Symbol and Company Logo
- Enhances Corporate Brand Recognition to Further Expand Across China
Shenzhen, China, August 26, 2010 -- China
Information Security Technology, Inc. (Nasdaq: CPBY) ("China Information
Security" or the "Company"), a leading total solutions provider of Geographic
Information Systems (GIS), digital public security and hospital information
systems in China, today announced that it will change its corporate name to
China Information Technology, Inc., effective as of August 26, 2010.
In connection with the name change, the Companys ticker symbol on NASDAQ will
change to CNIT, and the Companys new corporate website will become
www.chinacnit.com. In addition, the domain name for the Companys corporate
email addresses will change to (email)@chinacnit.com and the Companys new logo
and globally registered trademark will become CNIT.
Mr. Jiang Huai Lin, Chairman and CEO of the Company, commented, We believe that
our new corporate name more appropriately reflects our expansion beyond the
information security sector to our core business operations in information
systems technology. Our goal is to establish sales office or representative in
over 30 provinces and provincial cities by the end of 2010, and in over 300
prefecture cities across the country in the next five years. We expect that our
name change will aid in and facilitate these expansion plans by unifying and
enhancing our brand as our business continues to expand.
About China Information Security Technology, Inc.
China Information Security Technology, Inc., together with its subsidiaries,
specializes in Geographic Information Systems (GIS), digital public security and
hospital information systems, with the goal of being the largest GIS software
provider in the Peoples Republic of China. Headquartered in Shenzhen, China,
the Companys total solutions include specialized software, hardware, systems
integration, and related services organized into three business segments
Geographic Information Systems, Digital Information Security Technology (DIST),
and Digital Hospital Information Systems (DHIS). To learn more about the
Company, please visit its corporate website at http://www.chinacpby.com.
Safe Harbor Statement
This press release may contain certain "forward-looking statements" relating to
the business of China Information Security Technology, Inc., and its subsidiary
companies. All statements, other than statements of historical fact included
herein are "forward-looking statements" including statements regarding: the
significance of the Company's name change and its ability to aid in and
facilitate the Companys expansion plans; the general ability of the Company to
achieve its commercial objectives, including the Companys goal to establish
sales office or representative in over 30 provinces and provincial cities by the
end of 2010, and in over 300 prefecture cities across the country in the next
five years; the business strategy, plans and objectives of the Company and its
subsidiaries; and any other statements of non-historical information. 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. Investors 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 further information, please contact:
China Information Security Technology, Inc.
Iris Yan
Tel: +86-755-8370-4767
Email: ir@chinacpby.com
http://www.chinacpby.com
Christensen Kathy Li
Tel: +1-480-614-3036
Email: kli@christensenir.com
Roger Hu
Tel: +86-158-1049-5326
Email: rhu@christensenir.com