China Information Security Technology, Inc. Announces That its GeoGlobe Software Has Passed Appraisal by China’s National Bureau of Mapping and Surveying
Security Technology, Inc., (Nasdaq: CPBY) (”China Information Security,”
”CIST” or the ”Company”), a leading application software developer, systems
integrator and full-service Geographic Information Systems (”GIS”) solutions
provider to public security and civil-use markets in
that its GeoGlobe Software had successfully passed appraisal by
National Bureau of Mapping and Surveying (the “Bureau”).
GeoGlobe is the first domestically developed software for spatial
information sharing and service network platforms in
developed by
Sensing and Wuhan Wuda Geoinformatics Co., Ltd. (”Geo”), the majority owned
subsidiary of the Company’s variable interest entity, iASPEC Software
Engineering Company Limited (“iASPEC”). The joint R&D effort lasted four years
and received funding support from
The 973 Program, or The National Basic Research Program, is
research program that aims to organize and implement basic research relating
to sustainable development such as agriculture, energy, information, resources,
the environment, population, health and materials to meet the nation’s major
strategic needs. The 863 Program, or the State High-Tech Development Plan, is
intended to stimulate the development of advanced technologies in a wide range
of fields for the purpose of rendering
obligations for foreign technologies.
The Bureau’s appraisal committee, which is comprised of Mr.
Academician of the Chinese Academy of Sciences, Mr.
the Chinese Academy of Sciences and Academy of Engineering, Mr.
Academician of the Chinese Academy of Sciences, Mr. Xianlin Liu and Mr.
Wang
GeoGlobe had some of the most advanced and innovative technologies in the
world that could be widely applied as basic software in the public service
market for spatial information. Receiving such an award from the central
government requires a successful case study demonstration and deployment and
extensive evaluation by expert panels.
The GeoGlobe platform expands the Company’s presence in the civil-use GIS
market. It has been successfully applied in various fields including mapping
and surveying, electricity generation and national defense. For instance,
on GeoGlobe’s technology, also passed appraisal by
Technology; and
used GeoGlobe, which played a critical role in fighting Typhoon Sepat and
severe ice disasters last year. GeoGlobe had also been successfully deployed
in the National Electricity Grid Emergency Response System for the Beijing
Olympics.
On
National Geographical Information Public Service Platform (the “Geo
Platform”), which could add additional opportunities for the Company’s
GeoGlobe product. The Geo Platform aims to improve the capability and
efficiency of geographic information public service, and optimize the
utilization of national geographic information resources in
”We are pleased that GeoGlobe has passed the Bureau’s appraisal,”
commented Mr.
this as an indication that the Central government has recognized our product
quality and technological advancement and we expect that such recognition by
the central government will enhance our brand name and reputation in the
marketplace. Furthermore, the Central government has recently placed a
priority on procuring domestically developed software versus international
brands to further stimulate our economy, providing us with additional barriers
to entry.”
About China Information Security Technology, Inc.
Through its wholly-owned Chinese subsidiary, China Information Security
Technology, Inc. (”CIST” or the ”Company”) headquartered in
(”PRC”), is a leading application software developer, systems integrator and
full-service Geographic Information Systems (”GIS”) solutions provider to
the public security and civil-use markets in
technology to improve public safety and information management. Its main
business lines range from digital information security, to Geographic
Information Systems (GIS), and digital hospital information systems. The
Company provides a broad portfolio of fully integrated solutions and services,
including its First Responder Coordination Platform, Intelligent Border
Control System, Residence Card Information Management System, Police- and
Civil-use GIS products, and Digital Hospital Information System to serve the
growing demand for digital hospital and electronic medical record systems in
the Company numerous government and enterprise contracts throughout
learn more about the Company, please visit the 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 GeoGlobe’s successful appraisal by the National
Bureau of Mapping and Surveying and its effect on the Company’s ability to
increase its market share, revenues and profitability; 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 more information, please contact:
Company Contact:
Ms. Iris Yan
Investor Relations Manager
China Information Security Technology, Inc.
Tel: +86-135-1085-5460
Email: irisyan@chinacpby.com
Web: http://www.chinacpby.com
Investor Relations Contact:
Mr. Crocker Coulson, President
CCG Investor Relations
Tel: +1-646-213-1915 (NY office) or
Mr. Gary Chin
Tel: +1-646-213-1909
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
SOURCE China Information Security Technology, Inc.