SHENZHEN, China, April 6 /PRNewswire-Asia-FirstCall/ -- China
Information Security Technology, Inc. (Nasdaq: CPBY) ("China
Information Security," "CIST" or the "Company"), a leading total
solutions provider of digital security, GIS and digital hospital
information systems in China,
today announced that the State Grid Corporation of China ("SGCC") selected the Company's
proprietary GeoStar and GeoGlobe geographic information systems as
one of its only two suppliers for the build-out of the nationwide
Smart Grid in China. CIST is the
only domestic Chinese supplier. The other supplier is ESRI, a US
company.
The State Grid Corporation of China develops and operates the electric grid
providing electricity nationwide and is one of the most vital
state-owned enterprises in China.
Responding to the challenges and the development of the electric
utilities industry in China, the
State Grid launched a project called "SG186" to further strengthen
its information systems to support the build-out of the nationwide
Smart Grid. The major functions for CIST's geographic information
systems will be to integrate Smart Grid management functions on the
GIS platform as a portal and visualize the structure of the
grid.
"We are very pleased to be the only Chinese domestic provider of
geographic information systems to be chosen by the State Grid
Corporation of China," commented
Mr. Jiang Huai Lin, Chairman and
Chief Executive Officer of China Information Security Technology.
"This win not only demonstrates the Company's unmatched
technological leading position in Chinese GIS sector, but it is
also a testament to the quality of our proprietary GeoStar and
GeoGlobe GIS applications, and will lead to a broader use of GIS in
many provincial and municipal level grid companies throughout
China. We believe that by
leveraging our strong R&D capabilities and solid industry
reputation together with the Chinese government's support for
domestic GIS products, we will be able to capture important market
opportunities related to GIS applications in China."
About China Information Security Technology, Inc.
China Information Security Technology, Inc., together with its
subsidiaries, is a total solution provider of digital security,
geographic information, and hospital information systems in
the People's Republic of China.
Headquartered in Shenzhen, China,
the Company's total solutions include specialized software,
hardware, systems integration, and related services organized into
three business segments -- Digital Information Security Technology
("DIST"), Geographic Information Systems ("GIS"), and Digital
Hospital Information System ("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 proprietary GIS products being
selected by the State Grid Corporation of China; the expectation that the Chinese
government's will continue to support of the domestic GIS product
market; the general ability of the Company to achieve its
commercial objectives; 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
Web: 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
SOURCE China Information Security Technology, Inc.